Which of the following is true for ESI act?
Funeral benefit is up to Rs 50,000
The State Government's share of expenditure on medical care is 1/8; the ESI Corporation's share of expenditure on medical care is 7/8 of total cost
Person with daily wages of Rs 70 has to contribute Rs 300 towards ESI
Employee has to contribute 4.75% and employer contributes 8.75%
Answer- B. The State Government's share of expenditure on medical care is 1/8; the ESI Corporation's share of expenditure on medical care is 7/8 of total costESI Act: The State Government's share of expenditure on medical care is 1/8; the ESI Corporation's share of expenditure on medical care is 7/8 of total cost.Employees State lnsurance Act (1948):Funeral benefit is up to Rs 5000The State Government's share of expenditure on medical care is 1/8 of total cost of medical care; the ESI Corporation's share of expenditure on medical care is 7/8 of total cost of medical care.Person with daily wages of less Rs.70 per day are exempted from making any paymentsThe employer contributes 4.75% of total wage bill; the employee contributes 1.75% of wages.