A factory of 30 persons has monthly wage bill of Rs 30000. According to ESI act they will pay for insurance every month ?
Ans. is 'a' i.e., 1425 Rs Finance of ESI scheme The scheme is run by contribution by employees and employers and grants from central and state governments? Employers contribution - 4.75% of total wages bills Employee contribution - 1.75% of total wages bills The state government's share of expenditure on medical care is '/8 of total cost of medical care. Factory will give 4.75% of 30000 (1425 Rs).
1425 Rs
525 Rs
2000 Rs
5000 Rs