Explanation:

The Employees State Insurance Act of 1948 was instituted with the target of getting monetary help in instances of infection, maternity, and disablement and for giving health advantages to workers of processing plants and foundations and their wards. Employees state insurance act 1948 is also abbreviated as an ESIC. 

Employees state insurance act 1948 comes into consideration for providing the compensation benefits to the employees. Along with this, it also has several benefits, which are catalogued below:

• Medical Benefit: Along with this, the salary of those employees does not get deducted during the period of their treatment. They also get a certain percentage of compensation if any of their family members get any severe medical illness. 
• Maternity Benefit: It is the best benefit provided to the women by the employee’s state insurance act 1948. Women who are pregnant get extra leave before and after their delivery. It means pregnant women are not required to join the office for some months before and after their delivery. They will receive their full salary during their maternity leave. 
• Disablement Benefit: Employees state insurance act 1948 also provides extra benefits to those who are differently abled. It provides extra reservations to disabled individuals of various categories. 
• Unemployment Benefits: Employees state insurance act 1948 also provides some monthly compensation to those unemployed and eligible to perform jobs. Along with this, it also provides loans to the persons who want to launch their startups. They can take the loans at lower interest under this act. 
• Insurance Benefits: Employees state insurance act 1948 provides insurance benefits to both government and private employees. 

Hence option 2nd is correct.