About Employees’ State Insurance Corporation:
- It is a statutory body formed under the ESI Act 1948.
- It is functioning under the aegis of Ministry of Labour and Employment, Government of India.
- It manages the ESI scheme, which provides medical, maternity, and financial benefits to employees.
- Functions: ESIC provides various social security benefits like Medical Benefit, Monetary benefits to the workmen and their family working in the private and public sector.
- Composition of ESIC:
- The Union Minister of Labour heads the ESIC as its Chairman.
- The Central Government appoints a Director General as the Chief Executive Officerof ESIC.
- The ESIC comprises members representing crucial interest groups, including employers, employees, the Central and State Governments, representatives of the Parliament and the medical profession.
