What is Employee State Insurance (ESI)?
Employee State Insurance (ESI) is a social security and health insurance scheme implemented by the government to provide financial and medical benefits to employees in case of sickness, maternity, disability, or death due to employment-related reasons. It is a mandatory program for organizations with a certain number of employees, where both the employer and the employee contribute to the fund. The scheme aims to ensure the welfare of workers by covering medical expenses and offering income protection during times of need.