Parliamentary Committee Urges Stringent Oversight of ESIC

• 26 Sep 2023

Recently, the Parliamentary Standing Committee on Labour has called for enhanced monitoring of the Employees State Insurance Corporation (ESIC) to ensure broader social security coverage for workers.

Key Points

• Reviewing ESIS Provisions for Better Coverage: The committee has advocated a review of Employees State Insurance Scheme (ESIS) provisions concerning coverage, contributions, wage entitlements, and wage limits.
• Concerns about Implementation of Social Security Plan: It called for proactive measures, including extensive surveys, data collection, and the use of Aadhaar for identification, to be taken urgently.
• Addressing Manpower and Infrastructure Shortages: Considering manpower shortages and inadequate infrastructure in ESIC facilities, the panel urges the government to fill vacancies in hospitals and dispensaries.
• Optimizing ESIC Investments: The ESIC had approved an initial investment starting at 5%, gradually increasing to 15% in Exchange Traded Funds (ETFs).