Centre reduces ESI contribution rate from 6.5% to 4%
New Delhi: The Central Government has reduced the rate of contribution under the ESI Act from 6.5% to 4%. Reduced rates will be effective from July 1. This would benefit 3.6 crore employees and 12.85 lakh employers. Employers’ contribution was reduced from 4.75% to 3.25% and employees’ contribution was reduced from 1.75% to 0.75%, respectively. […]
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