Central
ESICircular regarding verification of ESI Funds collected through SBI and certification regarding non-retention of ESIC monies
Central published this gazette notification (Gazette ID: central-circular-regarding-verification-of-esi-funds-collected-through-sbi-and-certification-regarding-non-retention-of-esic-monie) on 2026-06-04, filed under ESI. The purpose of this circular is to ensure transparency and accountability in the collection and management of ESI funds, and to prevent any misuse or retention of ESIC monies by employers.
| Issue Date | |
| Published | |
| Gazette ID | central-circular-regarding-verification-of-esi-funds-collected-through-sbi-and-certification-regarding-non-retention-of-esic-monie |
| Category | ESI |
Action Required
Employers must verify the ESI funds collected through SBI and provide certification regarding non-retention of ESIC monies to the appropriate authorities. They must also ensure that all ESI contributions are deposited in a timely manner and that accurate records are maintained.
Statutes & Rules Amended
- ESI Act
- ESIC Regulations
Compliance Impact
| Action Required | Employers must verify the ESI funds collected through SBI and provide certification regarding non-retention of ESIC monies to the appropriate authorities. They must also ensure that all ESI contributions are deposited in a timely manner and that accurate records are maintained. |
Purpose
The purpose of this circular is to ensure transparency and accountability in the collection and management of ESI funds, and to prevent any misuse or retention of ESIC monies by employers.
Summary
The Central Government has issued a circular regarding the verification of ESI funds collected through the State Bank of India (SBI) to ensure accurate accounting and compliance with ESIC regulations. Employers are required to verify the funds collected and provide certification regarding non-retention of ESIC monies to avoid any potential penalties or fines.