Full form for ESIC stands for Employees’ State Insurance Scheme of India.
ESIC is a multi-faceted scheme designed to provide socio-economic protection for the employees of organized sector. Contribution in ESI scheme is done by both the employers and employee at a fixed percentage of salaries received.
In this scheme state government contribute 1/8th of the cost of medical benefits, the company contributes 3.25 percent and 0.75 is the employees contribution.
ESIC is applicable only for the employees whose monthly salary does not exceed 21,000. You can get more details and recent development in ESI on www.esic.nic.in