ESIC directs to pay employee contributions within 15 days of the last day of the calendar month in which contributions fall due
In a recent amendment to the Employees’ State Insurance (General) Regulations, 1950 (“Principal Regulations”), an employer is liable to pay employee contributions within 15 days of the last day of the calendar month in which the contributions becomes due.
Prior to the Employees’ State insurance (General) Amendment Regulations, 2017 (“Amendment Regulations”), such contribution could be paid within 21 days of the last day of the calendar month in which the contributions became due.
In effect, the Amendment Regulations have reduced the timeline for payment of the contribution.
The Amendment Regulations will come into force with effect from the contribution payable for the month of June, 2017, i.e. by 15th July, 2017