Summary
The Indian social security system only covers employees in the organized sector, which accounts for less than 10% of the country’s workforce. As the unorganized sector is continuously growing the Government of India has launched several social security measures related to healthcare, pension and direct cash transfer schemes to people who do not have access to any formal scheme.
The report provides in-depth industry analysis, information and insights of the employee benefits in India, including: overview of the state and compulsory benefits in India, detailed information about the private benefits in India, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in India.
Key Highlights
- The social security system of India covers people belonging to different sections, including the labor force and unemployed people.
- Concession cards are additional assistance provided to people who receive income support and other people receiving a low income.
- All social security benefits are regulated by the Ministry of Labour & Employment of India.
Scope
This report provides a detailed analysis of employee benefits in India -
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in India
Reasons to Buy
- Make strategic decisions using in-depth information related to employee benefits in India.
- Assess Indian employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in India.
- Gain insights into key organizations governing Indian employee benefits, and their impact on companies.
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Table of Contents
1. EXECUTIVE SUMMARY
2. INTRODUCTION
2.1 What is this Report About?
2.2 Definitions
3. COUNTRY STATISTICS
4. OVERVIEW OF EMPLOYEE BENEFITS IN INDIA
5. REGULATIONS
6. STATE AND COMPULSORY BENEFITS
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Eligibility
6.1.3 Benefits
6.1.4 Payment Options
6.1.5 Contributions
6.2 Death Benefits
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment Options
6.2.5 Contributions
6.3 Long-Term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment Options
6.3.5 Contributions
6.4 Short-Term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment Options
6.4.5 Contributions
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment Options
6.5.5 Contributions
6.6 Workmen’s Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment Options
6.6.5 Contributions
6.7 Maternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment Options
6.7.5 Contributions
6.8 Other Benefits
6.8.1 Unemployment Benefit
6.8.2 Leaves and Holidays
6.9 Private Benefits
6.9.1 Retirement Benefits
6.9.2 Disability Benefits
6.9.3 Death Benefits
6.9.4 Medical Benefits
6.9.5 Accidental Death & Dismemberment
7. APPENDIX
7.1 Methodology
7.2 Contact GlobalData
7.3 About GlobalData
7.4 GlobalData’s Services
7.5 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: India - Country Statistics
Table 3: Indian Retirement Benefits - Chronological Order of the Change of Wage Ceiling for EPF
Table 4: India - Indian Death in Service Benefits - Qualifying Service and Death Gratuity
Table 5: Indian Retirement Benefits (Private Employees) - Contribution Rates (% of Wages) to Benefit Schemes
List of Figures
Figure 1:India- Main Institutions of Social Security System
