Employees' contribution ₹150
The Employees' State Insurance (ESI) Scheme under the Employees' State Insurance Act, 1948 is a social security system provided by the Government of India to offer financial protection to employees in case of an untimely health-related eventuality like sickness, disability, etc.
Let's solve this step-by-step to find Mr. X's contributions:
- According to the ESI rules applicable since July 1, 2019:
- The employer's contribution is 3.25% of the employee's wages.
- The employee's contribution is 0.75% of their wages.
- To calculate the employer's contribution:
- Wages = ₹20,000
- Employer’s Contribution = \(0.0325 \times 20,000 = ₹650\)
- To calculate the employee's contribution:
- Employee’s Contribution = \(0.0075 \times 20,000 = ₹150\)
Therefore, the contributions are:
- Employer’s contribution: ₹650
- Employee’s contribution: ₹150
The correct option is: Employer's contribution ₹650; Employee's contribution ₹150.
This is option 2 from the provided choices.
Important Questions from Social Security Schemes
The Government of India approved the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PM-JAY) in the year ______.
In which year was the Rural Employment Generation Programme launched?
In which of the following years was the ‘Pradhan Mantri Ujjwala Yojana’ launched?
_______ launched on 25th June 2015, intends to provide housing for all in urban areas by year 2022.
- ______ (NPS) is a voluntary, defined contribution retirement savings scheme to enable the subscribers to make optimum decisions regarding their future through systematic savings.
