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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1905)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4369)
Question
How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
 
Answer
# 41
EPF is calculated on Basic+DA.
ESI is calculated on Gross Salary.
In both the cases Employer's and Employees' contribution
will be there.

Limits and rates may change from year to year or remain the
same for many years. E.g. In the Central Govt. budget has
proposed to increase salary limit for ESI applicability from
Rs. 10,000/- to Rs. 15,000/- w.e.f April, 2010.

For more information read 'Employees Provident Fund &
Miscellaneous Act" to know about "Employees Provident Fund"
and 'ESI Act' to know about "Employees' State insurance".
Provisions / Rules in any Statutory Act may be amended by
the government/s and this needs to be updated continuously
by reading or consulting the concerned department or
experts/consultants.
 
Is This Answer Correct ?    6 Yes 0 No
H.r. Sreepada Bhagi
 
Answer
# 42
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.
 
Is This Answer Correct ?    8 Yes 2 No
Tilak.m
 
Answer
# 43
calculate ESI on GROSS SALARY (1.75 %) & PF (Providend
Fund) calculate on
basic salary (12%)
 
Is This Answer Correct ?    8 Yes 2 No
Burugu Srikanth Goud
 
Answer
# 44
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%
 
Is This Answer Correct ?    5 Yes 0 No
Nagaraju Arruri
 
Answer
# 45
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
 
Is This Answer Correct ?    5 Yes 0 No
Sunil Swami
 
Answer
# 46
1.75% ON GROSS SALARY
12% ON BASIC SALARY
 
Is This Answer Correct ?    12 Yes 7 No
Harsh
 
Answer
# 47
ESI Calculate on gross Salary or PF calculate on Basic
Salary.
 
Is This Answer Correct ?    4 Yes 0 No
Mohd Ahar
 
Answer
# 48
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)
 
Is This Answer Correct ?    6 Yes 2 No
Pratap Rao
 
Answer
# 49
PF IS CALCULATED ON BASIC - 12% on Basic & ESI IS
CALCULATED ON GROSS SALARY.
 
Is This Answer Correct ?    4 Yes 0 No
Ujwala
 
Answer
# 50
ESI CALCULATED IN GROSS SALARY & PF IS BASIC SALARY 
Is This Answer Correct ?    5 Yes 1 No
Amit Mathur
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
I want to now that if we have excises of input of Excise duty but not cess due the add duty on capital good can be adjusted agst 10 % excises so can we pay only cess amount.   1
WHICH CACULATION NEED FOR EXCISE DUTY FILLING & RETURN SUBITTED TO GOVERMENT?   1
what is the last date of TDS retur filling   2
Is TDS is applicable for subscription/membership fee paid to registered council?   2
What are the benefits to an Employee to deduct TDS from his Salary ?   3
what is the Last date of Yearly VAT Return in Haryana Sale Tax ?   11
what is the latest percentage of work contract service Tax with Edu cess   2
what is 'H' form & when it's issu?   4
Anybody tell me What is Credit Availed, Credit Utilized & Credit Balance In service tax.   1
How the FBT is calculated ? what is FBT ?   2
WE ARE THE DEALER WE PURCHASE MATERIAL WITH VAT & USE THE SAME FOR LABOUR CHARGES + FINISHED GOODS BUSINESS & BUSINESS SHARE OF THE SAME IS 85:15, CLEAR ME CAN I TAKE FULL ADVANTAGE OF VAT CREDIT AGAINST MY VAT LIABILITY   3
HOW MANY TIPE OF BALANSHEET   5
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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