On 26-2-2024, the Ministry of Labour and Employment notified the Employees’ State Insurance (Central) Amendment Rules, 2024 to amend the Employees’ State Insurance (Central) Rules, 1950. The provisions came into force on 26-2-2024.
The amendment modifies Rule 29 relating to “Procedure for Execution of Contracts” providing that every contract made under or for any purpose of the Act will be made on behalf of the Corporation by the Director General.
Earlier, the contracts exceeding an expenditure of Rs. 5 crores were supposed to be sanctioned previously by the Standing Committee.
Now, the expenditure limit has been increased to Rs 25 crores.
