Hi All,
Good morning
am from Coimbatore(TN)
Can anyone tell me the PF and ESI calculation, both employee and employer.
If the employee gets 3000 gross salary what will be the ESI & PF calculation
Is it employee PF = basic*12/100
Please send me the reply as soon as possible.
"Our greatest glory is not in never failing but in rising up every time we fail"
Thanks
Riya
From India, Coimbatore
7Good morning
am from Coimbatore(TN)
Can anyone tell me the PF and ESI calculation, both employee and employer.
If the employee gets 3000 gross salary what will be the ESI & PF calculation
Is it employee PF = basic*12/100
Please send me the reply as soon as possible.
"Our greatest glory is not in never failing but in rising up every time we fail"
Thanks
Riya
From India, Coimbatore
Hi Riya,
How R You,
Please note that:
1. The ESI has to be deducted at the gross Salary.
2. Rate of ESI Contribution is 1.75% from Employee Gross Salary & 4.75% of gross is to be deposited by the Employer.
3. Washing Allowance is not covered in EISC.
4. Contribution is to be taken in roundup of one Rupee.
5. according to your question:
Employee Share of Cont.- 3000*1.75/100 = 52.50 Say Rs. 53.00
Employer Share of Cont - 3000*4.75/100= 142.50 Say Rs. 143.00
Total ESI Contribution Rs. 196.00
PF.
1. PF has to be deposited as per follows:
Employeee Share of Cont.: 12 % of Basic, DA and Retaining Allownces
Employers Share of Cont : 12 % of Basic, DA and Retaining Allownces
(8.33% upto Rs. 541) for pension and
balance balance for EPF)
Others Charges paid by Employer 1.10 % for Admin Charges, 0.50 % Ins.
Charges and 0.01 % for EDLI)
Challan is to be prepared as under:
EPF A/c - 1 Employees Share = 12 %
EPF A/c - 1 Employers Share = 12% - 8.33 = 3.67 %.
EPS A/c - 10 Employers Share = 8.33 % upto Rs. 541.00.
A/c - 2 Admin Charges = 1.1 %
A/c - 21 Ins. charges = 0.50 %
A/c - 22 EDLI cHARGES = 0.01 %.
2. PF is to be paid at Basic + DA + Retaining Allowances.
3. Basic Should be arround 50% to 60 % of Gross Salary.
4. Basic Should not be less than Minimum wages of the concerned state.
5. Contribution is to be calculated in the rounded form.
6. Slab for coverage in Pf is Rs. 6500.00
7. In pension 8.33 % of Basic+DA+RA or Rs. 541.00 which ever is low is to be deposited. Rest amount is to be deposited in EPF.
Please Revert Back for any query.
Regards.
U.C. Kaushik
From India, Delhi
How R You,
Please note that:
1. The ESI has to be deducted at the gross Salary.
2. Rate of ESI Contribution is 1.75% from Employee Gross Salary & 4.75% of gross is to be deposited by the Employer.
3. Washing Allowance is not covered in EISC.
4. Contribution is to be taken in roundup of one Rupee.
5. according to your question:
Employee Share of Cont.- 3000*1.75/100 = 52.50 Say Rs. 53.00
Employer Share of Cont - 3000*4.75/100= 142.50 Say Rs. 143.00
Total ESI Contribution Rs. 196.00
PF.
1. PF has to be deposited as per follows:
Employeee Share of Cont.: 12 % of Basic, DA and Retaining Allownces
Employers Share of Cont : 12 % of Basic, DA and Retaining Allownces
(8.33% upto Rs. 541) for pension and
balance balance for EPF)
Others Charges paid by Employer 1.10 % for Admin Charges, 0.50 % Ins.
Charges and 0.01 % for EDLI)
Challan is to be prepared as under:
EPF A/c - 1 Employees Share = 12 %
EPF A/c - 1 Employers Share = 12% - 8.33 = 3.67 %.
EPS A/c - 10 Employers Share = 8.33 % upto Rs. 541.00.
A/c - 2 Admin Charges = 1.1 %
A/c - 21 Ins. charges = 0.50 %
A/c - 22 EDLI cHARGES = 0.01 %.
2. PF is to be paid at Basic + DA + Retaining Allowances.
3. Basic Should be arround 50% to 60 % of Gross Salary.
4. Basic Should not be less than Minimum wages of the concerned state.
5. Contribution is to be calculated in the rounded form.
6. Slab for coverage in Pf is Rs. 6500.00
7. In pension 8.33 % of Basic+DA+RA or Rs. 541.00 which ever is low is to be deposited. Rest amount is to be deposited in EPF.
Please Revert Back for any query.
Regards.
U.C. Kaushik
From India, Delhi
HI, THANKS FOR THE INFORMATIVE POST , I WUD LIKE U TO CLARIFY ON IS THE ADMN CHARGES AND INSURANECE CHARGES PAYABLE ON THE GROSS SALARY OR 6500 OR (BASIS+ DA+RA)
AMARDEEP
Hi Riya,
How R You,
Please note that:
1. The ESI has to be deducted at the gross Salary.
2. Rate of ESI Contribution is 1.75% from Employee Gross Salary & 4.75% of gross is to be deposited by the Employer.
3. Washing Allowance is not covered in EISC.
4. Contribution is to be taken in roundup of one Rupee.
5. according to your question:
Employee Share of Cont.- 3000*1.75/100 = 52.50 Say Rs. 53.00
Employer Share of Cont - 3000*4.75/100= 142.50 Say Rs. 143.00
Total ESI Contribution Rs. 196.00
PF.
1. PF has to be deposited as per follows:
Employeee Share of Cont.: 12 % of Basic, DA and Retaining Allownces
Employers Share of Cont : 12 % of Basic, DA and Retaining Allownces
(8.33% upto Rs. 541) for pension and
balance balance for EPF)
Others Charges paid by Employer 1.10 % for Admin Charges, 0.50 % Ins.
Charges and 0.01 % for EDLI)
Challan is to be prepared as under:
EPF A/c - 1 Employees Share = 12 %
EPF A/c - 1 Employers Share = 12% - 8.33 = 3.67 %.
EPS A/c - 10 Employers Share = 8.33 % upto Rs. 541.00.
A/c - 2 Admin Charges = 1.1 %
A/c - 21 Ins. charges = 0.50 %
A/c - 22 EDLI cHARGES = 0.01 %.
2. PF is to be paid at Basic + DA + Retaining Allowances.
3. Basic Should be arround 50% to 60 % of Gross Salary.
4. Basic Should not be less than Minimum wages of the concerned state.
5. Contribution is to be calculated in the rounded form.
6. Slab for coverage in Pf is Rs. 6500.00
7. In pension 8.33 % of Basic+DA+RA or Rs. 541.00 which ever is low is to be deposited. Rest amount is to be deposited in EPF.
Please Revert Back for any query.
Regards.
U.C. Kaushik[/quote]
From India, Chandigarh
AMARDEEP
Hi Riya,
How R You,
Please note that:
1. The ESI has to be deducted at the gross Salary.
2. Rate of ESI Contribution is 1.75% from Employee Gross Salary & 4.75% of gross is to be deposited by the Employer.
3. Washing Allowance is not covered in EISC.
4. Contribution is to be taken in roundup of one Rupee.
5. according to your question:
Employee Share of Cont.- 3000*1.75/100 = 52.50 Say Rs. 53.00
Employer Share of Cont - 3000*4.75/100= 142.50 Say Rs. 143.00
Total ESI Contribution Rs. 196.00
PF.
1. PF has to be deposited as per follows:
Employeee Share of Cont.: 12 % of Basic, DA and Retaining Allownces
Employers Share of Cont : 12 % of Basic, DA and Retaining Allownces
(8.33% upto Rs. 541) for pension and
balance balance for EPF)
Others Charges paid by Employer 1.10 % for Admin Charges, 0.50 % Ins.
Charges and 0.01 % for EDLI)
Challan is to be prepared as under:
EPF A/c - 1 Employees Share = 12 %
EPF A/c - 1 Employers Share = 12% - 8.33 = 3.67 %.
EPS A/c - 10 Employers Share = 8.33 % upto Rs. 541.00.
A/c - 2 Admin Charges = 1.1 %
A/c - 21 Ins. charges = 0.50 %
A/c - 22 EDLI cHARGES = 0.01 %.
2. PF is to be paid at Basic + DA + Retaining Allowances.
3. Basic Should be arround 50% to 60 % of Gross Salary.
4. Basic Should not be less than Minimum wages of the concerned state.
5. Contribution is to be calculated in the rounded form.
6. Slab for coverage in Pf is Rs. 6500.00
7. In pension 8.33 % of Basic+DA+RA or Rs. 541.00 which ever is low is to be deposited. Rest amount is to be deposited in EPF.
Please Revert Back for any query.
Regards.
U.C. Kaushik[/quote]
From India, Chandigarh
Dear kaushik,
thank you for ur valuable information that basic should not be below the minimum wages of the state. But kaushik, does the basic component includes the DA or the basic alone should not be below minimum wages?
Because i have seen companies whose basic is below minimum wages but they have Da which while adding crosses the minimum wages..
thanks & regards
subramanian
From India, Madras
thank you for ur valuable information that basic should not be below the minimum wages of the state. But kaushik, does the basic component includes the DA or the basic alone should not be below minimum wages?
Because i have seen companies whose basic is below minimum wages but they have Da which while adding crosses the minimum wages..
thanks & regards
subramanian
From India, Madras
Dear riya, yours calculation is correct. if the company has other components such as DA they you have to add DA along with Basic for the calculation (basic + DA)*12% regards subramanian
From India, Madras
From India, Madras
Dear Kaushik,
Thanks for sharing such nice information to all.
A small correction on ESI - Contribution is to be taken in roundup of one Rupee
It is always the higher rounding off. i.e., even if it is 52.01, it should be 53.00 and cannot be rounded off to 52.00 like in many cases.
Murali.
From India, Hyderabad
Thanks for sharing such nice information to all.
A small correction on ESI - Contribution is to be taken in roundup of one Rupee
It is always the higher rounding off. i.e., even if it is 52.01, it should be 53.00 and cannot be rounded off to 52.00 like in many cases.
Murali.
From India, Hyderabad
Dear Riya,
If you have questions or doubts about pf & esi calculation, you can use very easy software for this .
I am giving link to download the demo.
http://www.nextechss.com/EPF30Installer.exe
the password for staff user is staff (in small letter)
Best Regards
From India, Nagpur
If you have questions or doubts about pf & esi calculation, you can use very easy software for this .
I am giving link to download the demo.
http://www.nextechss.com/EPF30Installer.exe
the password for staff user is staff (in small letter)
Best Regards
From India, Nagpur
Dear Friends,
Thanks for your valuable suggestion on the topic of PF & ESIC. I would like to have an opinion on ESIC issue "whether the seasonal industry are covered under ESIC Act and what are the basic requirements to comply the ESIC provisions. Is there is any specific limitation on no. of employees or their salary ..and also confirm what penal provisions are defined if we will not comply the ESIC rules... Kindly advise me
From India, Pune
Thanks for your valuable suggestion on the topic of PF & ESIC. I would like to have an opinion on ESIC issue "whether the seasonal industry are covered under ESIC Act and what are the basic requirements to comply the ESIC provisions. Is there is any specific limitation on no. of employees or their salary ..and also confirm what penal provisions are defined if we will not comply the ESIC rules... Kindly advise me
From India, Pune
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