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What is Which of the following is true for ESI act? and explain in detail?
Answer- B. The State Government's share of expenditure on medical care is 1/8; the ESI Corporation's share of expenditure on medical care is 7/8 of total costESI Act: The State Government's share of expenditure on medical care is 1/8; the ESI Corporation's share of expenditure on medical care is 7/8 of total cost.Employees State lnsurance Act (1948):Funeral benefit is up to Rs 5000The State Government's share of expenditure on medical care is 1/8 of total cost of medical care; the ESI Corporation's share of expenditure on medical care is 7/8 of total cost of medical care.Person with daily wages of less Rs.70 per day are exempted from making any paymentsThe employer contributes 4.75% of total wage bill; the employee contributes 1.75% of wages.