i am working for a contractor in steel plant in karnataka, i am an engineer and i have to carry out all labor activities. i don\'t know the PF and ESIC rule, i want to know how much we have deduct amount from the labors.?
From India, Bangalore
From India, Bangalore
Dear
If your establishment is covered under the provisions of the ESI Act, 1948, then you are required to deduct 1.75% from the salary of the employees/workers upon their gross salary and apart from this you are further required to pay @ 4.75% towards your own share, total comes out 6.50% towards contribution for all those workers/employees getting gross wages upto Rs. 15000/- PM.
As far as question of Provident Fund belongs, if your establishment is covered under the provisions of section 1 (3), 1(4) and 2A of the EPF and MP Act, 1952, you have to deduct @ 12% contribution on Basic Salary of the employees getting upto Rs. 6500/- PM and the person those are getting more than 6500/- as basic salary will be counted as an exempted employee if from the very first day of their appointment or on the day of applicability of the Act, their B Basic salary were more than Rs. 6500/- PM. You have in addition to the deduction madeout from the employees further required to pay 12% towards your own share and 1.61% towards administration charges.
Now a days, the amount of the contribution is required to be paid online through online creating ECR file and thereafter uploading that file on e-portal of EPFO.
Regards
R B Yadav
From India, Gurugram
114If your establishment is covered under the provisions of the ESI Act, 1948, then you are required to deduct 1.75% from the salary of the employees/workers upon their gross salary and apart from this you are further required to pay @ 4.75% towards your own share, total comes out 6.50% towards contribution for all those workers/employees getting gross wages upto Rs. 15000/- PM.
As far as question of Provident Fund belongs, if your establishment is covered under the provisions of section 1 (3), 1(4) and 2A of the EPF and MP Act, 1952, you have to deduct @ 12% contribution on Basic Salary of the employees getting upto Rs. 6500/- PM and the person those are getting more than 6500/- as basic salary will be counted as an exempted employee if from the very first day of their appointment or on the day of applicability of the Act, their B Basic salary were more than Rs. 6500/- PM. You have in addition to the deduction madeout from the employees further required to pay 12% towards your own share and 1.61% towards administration charges.
Now a days, the amount of the contribution is required to be paid online through online creating ECR file and thereafter uploading that file on e-portal of EPFO.
Regards
R B Yadav
From India, Gurugram
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