EIBPL provides below social security benefits and insurances to its employees under this policy.
Employees contribute 12% of the monthly basic salary.
Employer contributes 12% of the basic monthly deposited in various accounts.
TM can nominate close relatives for benefits to be extended after death.
As per the Act, the employees are required to contribute 1.75% of Gross wages and the employer contributes 4.75% of Gross wages every month to the ESI Corporation.
Gratuity shall be payable on termination of employment to an employee only after he/she has rendered continuous service for a minimum period of five years.
An employee shall be paid Gratuity @ 30 days Consolidated pay for every completed year of service or part thereof in excess of 6 months, subject to the rules and regulations of the Gratuity Act.
Group Medi-claim Policy: The eligible employees who are not covered under The Employees State Insurance Act, 1948, shall be covered under Group Medi-claim Policy along with his/her dependents.
Group Personal Accident Policy: Covers the employees in case of Accidental Death, Permanent Total Disability, Partial Permanent Disability, Total Temporary Disablity, etc. as a result of accident.