Hello, Can anyone tell me What is Employer’s contributions in ESI,PF,Gratuity,Bonus/Ex-Gratia etc.? Regards, Priyanka
From India, Delhi
2From India, Delhi
Hi Priyanka,
Find below the details of the same-
1. Employer's contribution in E.S.I is 4.75%/month of Gross/Month whereas of employee it is 1.75% of gross/Month.
2. PF contribution from both employee's as well as employer's side is 12% of Basic salary, out of this 12% amount 8.33% goes to the pension fund and the remaining 3.67% goes to provident fund only.
Apart from this the employer has to pay .5% more as Administrative charges.
3. Where as Bonus is paid as 8.33% of annual wages or basic salary paid.
Hope now it will be very much clear with you.
Regards,
Amit Seth.
From India, Ahmadabad
Find below the details of the same-
1. Employer's contribution in E.S.I is 4.75%/month of Gross/Month whereas of employee it is 1.75% of gross/Month.
2. PF contribution from both employee's as well as employer's side is 12% of Basic salary, out of this 12% amount 8.33% goes to the pension fund and the remaining 3.67% goes to provident fund only.
Apart from this the employer has to pay .5% more as Administrative charges.
3. Where as Bonus is paid as 8.33% of annual wages or basic salary paid.
Hope now it will be very much clear with you.
Regards,
Amit Seth.
From India, Ahmadabad
Dear Ncks,
Addition to the above points:-
A/c No - 02 - 1.1 % of Total Wages {Administrative Charges}
A/c No - 21 - 0.5 % of Total Wages {Employees Deposit-Linked Insurance Fund}
A/c No - 22 - 0.01 % of Total Wages {Administrative Charges for Employees Deposit-Linked Insurance Fund}
Gratuity Calculation:-
As per the act if any employees completes 5 yrs of continue services, he/she may eligible for the gratuity. The calculations are:-
Last basic pay*No of years in service* (15/26)
From India, Delhi
Addition to the above points:-
A/c No - 02 - 1.1 % of Total Wages {Administrative Charges}
A/c No - 21 - 0.5 % of Total Wages {Employees Deposit-Linked Insurance Fund}
A/c No - 22 - 0.01 % of Total Wages {Administrative Charges for Employees Deposit-Linked Insurance Fund}
Gratuity Calculation:-
As per the act if any employees completes 5 yrs of continue services, he/she may eligible for the gratuity. The calculations are:-
Last basic pay*No of years in service* (15/26)
From India, Delhi
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Employer-PF-res trict to wages of Rs 6500.pdf