Dear All, I have need the chart of whole incresing ceiling date for Epf & esic. kindly provided the same. Thanks & regard Pulkit
From India, New Delhi
1From India, New Delhi
Hi,
Your query is not very clear, thats why no response.
For ESIC the ceiling is 15k Gross salary. Employee above 15k per month are not covered by ESIC scheme.
EPF scheme as started had a Limit of 6500 basic salary of which 12% is the deduction. Many organizations either deduct the PF as 12% as per the spirit of the law and thus help employees saving the money and getting 8.5 % fixed intrest.
Few organizations have adopted a policy of taking advantage of the max limit and deduct 12% of 6500 i.e 780 per month and not 12% of the basic.
Thus there lies the difference either you just fullfill the law or you apply the law in the spirit.
Regards,
Shridhar
From India, Mumbai
Your query is not very clear, thats why no response.
For ESIC the ceiling is 15k Gross salary. Employee above 15k per month are not covered by ESIC scheme.
EPF scheme as started had a Limit of 6500 basic salary of which 12% is the deduction. Many organizations either deduct the PF as 12% as per the spirit of the law and thus help employees saving the money and getting 8.5 % fixed intrest.
Few organizations have adopted a policy of taking advantage of the max limit and deduct 12% of 6500 i.e 780 per month and not 12% of the basic.
Thus there lies the difference either you just fullfill the law or you apply the law in the spirit.
Regards,
Shridhar
From India, Mumbai
I shall provide the details on salary ceiling of PF prevailed from time to time as under :
------ Period--------- Amount (Rs)
1.3.71 to 31.3.83----- 1000
1.4.83 to 31.8.85----- 1600
1.9.85 to 31.10.90---- 2500
1.11.90 to 30.9.94---- 3500
1.10.94 to 31.5.01---- 5000
1.6.01 onwards-------- 6500
Abbas.P.S
From India, Bangalore
------ Period--------- Amount (Rs)
1.3.71 to 31.3.83----- 1000
1.4.83 to 31.8.85----- 1600
1.9.85 to 31.10.90---- 2500
1.11.90 to 30.9.94---- 3500
1.10.94 to 31.5.01---- 5000
1.6.01 onwards-------- 6500
Abbas.P.S
From India, Bangalore
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