ESI amount for Employee on Gross Salary @ 1.75% on Rs.15000
W.E.F 01.05.2010 and Employer @ 4.75%.
PF 12% on Basic + DA for Employee and Employer Will also pay
12%, But Employer's contribution goes two ways .In this
employer contribution 3.67%
will goes to PF account rest of amount 8.33% will goes to
pension fund.EPS salary was maximum 6500/-.

ESI is calculated on gross salary ie 1.75% of gross salary -
employee's share.
P.F is calculated on basic salary ie 12% of basic salary-
Employee's share.

ESIC will be calculate on gross salary employee share is
1.75% & employer share is 4.75% upto 10,000 Rs. but from 01-
may-2010 the esic deduction limit is 15,000.

Pf will be calculate on Basic+D.A. employee share is 12%
and employer share is also 12% but the total administ.chgs
is 1.61% which is bear by the company so now the employer
share of pf is 13.61 %, But the pf deduction limit is
complusory on 6500 wages. If any employee's wages is 8000
and he want to deduct his pf so it is opional.

PF is calculated on basic salary and it's 12% of basic. 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 basic salary is 11500 then there
is deduction of 1380/-.

And in PF there is contribution from emloyer also.
If PF is deducted 780/- from employee 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.

Gross salary for ESI calculation is BASIC+DA+HRA+OTHER
FIXED ALLOWANCE LIKE OT OR INCENTIVE. My question is after
adding OT OR INCENTIVE gross salary crosses 10,000/- should
we deduct ESI or OT OR INCENTIVE does it include in salary.

PF will be calculated on Basic salary which should be 6500
or less then it.
and esi will be calculated on gross salary , limit of esi
from 01/05/2010 is Rs.15000
thanks

Provident Fund is calculated 12 percent of Basic Salary up to 6500 by the employer and also 12 percent added by the P.F. Dept.So finally calculation is for the P.F. 12%+12% of Basic Salary.

ESI is calculated at the rate of 1.75% on the gross Salary up to 10000 salary of the employee and employers contribution is 4.75% and its aggregate is remitted to the ESI dept.
That's all i have friends,
Thanks

PF WILL BE CALCULATE ON BASIC SALARY UP TO 6500/- (i.e
EMPLOYEE 12% & EMPLOYER 3.67% PROVIDENT FUND A/C,8.33%
PENSION A/C,1.01% ADMIN CHARGES,.05% DLI CHARGES & .001
ADMN DLI CHARGES.) AND ESI WILL BE CALCULATE GROSS SALARY
15000/- i.e(1.75% EMPLOYEE & 4.75% EMPLOYER)

ANY BODY GIVE JOURNAL ENTRY FOR THIS
PURCHASEA/C DR 500
S.TAX 50.0
SUNDRY CREDITOR 450.00
AND
WHICH AMOUNT I TAKEN IN PURCHASE LEDGER
AND WHICH AMOUNT I TAKEN IN S.TAX LEDGER
AND WHICH AMOUNT I TAKEN IN SUNDRY CREDITORS LEDGER
WAT ARE THE DETAILS I REQUIRE TO MAINTAIN WITH REGARD TO
SUBMITTING OF S.TAX RETURN

Hi..My Question is related to TDS Claim.
I have got the TDS certificate for F.Y 2009-10.TDS amount is
2200.00 Looking in 26AS( F.Y 09-10 ) I can not see any
credit of 2200.00. This credit is available in 26AS of F.Y
2010-11. What shall I do avail credit of same in F.Y 09-10.

scrap material value 5000/- vat rate is 5%+tcs. now my
question is
1.how much value of tcs & vat.
2.after taxable value add vat or add tcs (before vat or tcs)
& how much value of vat & tcs. Plz reply me