Oct 17, 2024
ESIC and Gratuity are two employee benefits available to employees. Here's a comparison of their features and benefits:
Features: ESIC provides medical benefits to employees and their families, while Gratuity provides a lump sum amount to employees at the time of retirement. ESIC contributions are made by both the employee and employer, while Gratuity contributions are made by the employer.
Benefits: ESIC provides free treatment and medicines to employees and their families, while Gratuity provides a lump sum amount to employees at the time of retirement.
By comparing the features and benefits of ESIC and Gratuity, employees can choose the option that suits their financial and retirement planning needs.