Definition
ESIC runs the Employees' State Insurance scheme, which gives medical and cash benefits to covered employees up to a wage ceiling notified by the government. Employers and employees both contribute a percentage of wages. In manpower tenders, the employer's ESI contribution is part of the statutory cost, and proof of payment is typically checked with each bill.
In simple words
ESIC = staff ka sarkari health insurance. Iska employer wala hissa bhi rate mein judta hai.
Related terms
Guides on this topic
This is a general explanation. Confirm exact limits, percentages and timelines in the bid document and on gem.gov.in.
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