THERE ARE SOME ORGANIZATIONS WHO ALLOW THEIR EMPLOYEES TO
SAVE THE MONEY BY INCREASING THE PF CONTRIBUTION OF EMPLOYEE
INTO 12% TO 15%.HERE THE EMPLOYER CONTRIBUTION IS FIXED IN
ALL CASES ie 12%

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/- if an employee wants to deduct his
pf more than 780. he can do this.while basic is 11500,but
employer's contribution 8.33 % calculate on 6500.

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. but now esi
gross limit increase 10000 to 15000 so esi is calculated on
gross limit 15000.

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.

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

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)

cash transaction in a year up to Rs.20,000/- that rule under
sec.40-A. It may be any revised rule updated. Please inform me
anybody, and also suppose giving cash/cheque it is possible.

Till the Discounted bill is paid by acceptor it remains.
1) A contigent liabilities for the acceptor.
2) A contigent Liabilities for the Drawer.
3) A contigent Liabilities for the bank
4) A contigent Liabilites for drawer