Goodevening every body,
let somebody tell me if we are paid monthly incentive(Production based) to their employees , will we deduct esic on same amount or whether we are paid quarterly or yearly.
Regards
Rana
From India, Lucknow
11let somebody tell me if we are paid monthly incentive(Production based) to their employees , will we deduct esic on same amount or whether we are paid quarterly or yearly.
Regards
Rana
From India, Lucknow
under ESIC Act, the definition of wages to pay esic is as per sec.22;
(22) “ wages ” means all remuneration paid or payable in cash to an employee, if the terms of the contract of employment, express or implied, were fulfilled and includes 1[any payment to an employee in respect of any period of authorised leave, lock-out, strike which is not illegal or layoff and] other additional remuneration, if any, 2[paid at intervals not exceeding two months], but
does not include —
(a) any contribution paid by the employer to any pension fund or provident fund, or under this Act ;
(b) any travelling allowance or the value of any travelling concession ;
(c) any sum paid to the person employed to defray special expenses entailed on him by the nature of his employ¬ment ; or
(d) any gratuity payable on discharge ;
Now u have understood about contribution on payments made to employees.
From India, Ahmadabad
(22) “ wages ” means all remuneration paid or payable in cash to an employee, if the terms of the contract of employment, express or implied, were fulfilled and includes 1[any payment to an employee in respect of any period of authorised leave, lock-out, strike which is not illegal or layoff and] other additional remuneration, if any, 2[paid at intervals not exceeding two months], but
does not include —
(a) any contribution paid by the employer to any pension fund or provident fund, or under this Act ;
(b) any travelling allowance or the value of any travelling concession ;
(c) any sum paid to the person employed to defray special expenses entailed on him by the nature of his employ¬ment ; or
(d) any gratuity payable on discharge ;
Now u have understood about contribution on payments made to employees.
From India, Ahmadabad
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