Employees’ State Insurance Corporation
The section 3 of the act, provides for establishing the Employees’ State Insurance Corporation by the Central Government. Hence, this administers the Employees’ State Insurance scheme in the Act’s provisions accordance.
What is an Employees’ State Insurance?
Section 38 of the Act makes compulsory that subject to the provisions of the Act all the employees in factories or establishments to which this Act applies shall be insured in the manner provided by this Act. Such insured persons shall pay contributions towards Insurance Fund through their employers who will also pay their own contribution. Therefore, such insured persons are entitled to get certain benefits from that fund which shall be administered by the Corporation. Any dispute will be settled by the Employees’ Insurance Court.
What it constitutes:
A chairman, a vice-chairman and all the other members representing – employers, employees, the medical profession, and state government’s interest by the Central Government. Also, there are there ex officio members of this, from the parliament and the director general of the corporation.
The powers and duties of the corporation:
The section 199 of the Act, empowers the corporation for promoting and measuring the improvement of the health and welfare of the persons who are insured. Also, it covers the rehabilitation and re-employment of the disabled or injured persons who are insured.
On the other hand, the section 29 of the Act, empowers the corporation to-
- Acquire the movable or immovable property sell or transfer the said property.
- Invest, or re-invest the money, not immediately required for the expenses or realize such investments.
- It can raise or discharge loans with central government’s sanction.
- Constituting the staff’s benefit funds such as provident or any other benefit funds as it may think fit.
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