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 Categories  >>  Accounting  >>  Taxation

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Question
`How to Calculate the ESI,PF?it is basic Salary or Gross Salary?`
Question Submitted By :: Mahesh
I also faced this Question!!     Rank Answer Posted By

Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
# 11
Dear Friends,
PF is calculated on basic salary and it's 12% of basic.And
if basic is more than 6500 then also it is deducted 780 is
the maximum limit.
It's due to ceiling of 6500/-.
But in some firms 780/- is not limit there is deduction of
exact 12% of basic if my basic salary is 11500 then there
is deduction of 1380/-.
And in PF there is contribution from emloyer also.
If my PF is deducted 780/-then Employer will also
contribute 780/-.But whole this 780 is not going to PF
account.Out of 12% of employer contribution 8.33% is
contributed for pension scheme and 3.67% for PF.

And ESIC is calculated on gross salary.
If gross salary is more then 10000/- then the employee is
not applicable for ESIC.ESIC is deducted as 1.75% of gross
salary of employee.In ESIC also there is Employer's
contribution and it is 4.75% of gross salary.

 Is This Answer Correct ? 242 Yes 27 No
Neeta Pandey

Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
# 12
Epf Calculate Basic + Da (Min 6500, Pension Calculation Is
6500 only
ESI Calculate Gross (Washing Allowance Exempted) Min 10000/-

 Is This Answer Correct ? 91 Yes 16 No
Sumesh

Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
# 13
my basic salary is 6900
pf=12%
=828
Basic salary=6900
HRA=20%
=1380
Basic salary=6900
DA=20%
=1380
Gross salary=9660
CTC=9660

 Is This Answer Correct ? 92 Yes 63 No
Sneh Khera

Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
# 14
ESI is calculated on the basis of Gross Salary i.e. maximum
10,000/- and PF is calculated on the basis of Basic salary

 Is This Answer Correct ? 89 Yes 19 No
Atasi

Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
# 15
HI FRIENDS...

ESI CAN BE CALCULATED ON THE BASIS OF BASIS SALARY WHICH IS
MORE THEN 10000

 Is This Answer Correct ? 31 Yes 97 No
Kasturi

Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
# 16
a
 Is This Answer Correct ? 24 Yes 39 No
A

Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
# 17
How to calculate Basic+DA+conveyance+medical exps+LTA. Is
there any percentage to calculate these? if yes. specify.

 Is This Answer Correct ? 69 Yes 14 No
Savithri

Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
# 18
PF CALCULATE BASIC SALARY AND ESIC CALCULATE GROSS SALARY.
 Is This Answer Correct ? 71 Yes 5 No
Sanat Kumar Bid

Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
# 19
ESI calculate the Gross Salary and PF Calculate the Basic
Salary

 Is This Answer Correct ? 49 Yes 8 No
Subhash Chand

Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
# 20
ESI Calculate on Gross Salary if your Gross Salary within
10000/ pm & PF Calculate on Basic Salary.
Exp ESI: If your Gross Salary is Rs. 7500 then ESI Deducted
1.75% on Rs. 7500 = 132/-

Exp PF:If Your Basic Salary is Rs. 5000/- then PF Deducted
12% on Rs. 5000 =600/- (Both Emplyer & Emplyee 12%
contribution as per PF Scheme 1995)

 Is This Answer Correct ? 58 Yes 9 No
Satyajeet Dey