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 Audit interview questions  Audit Interview Questions (422)
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 Taxation interview questions  Taxation Interview Questions (1893)
 Accounting General interview questions  Accounting General Interview Questions (2782)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
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?
Answer
# 51
basic salary 
Is This Answer Correct ?    41 Yes 14 No
Stalin
 
  Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
Answer
# 52
ESI CALCULATE FROM GROSS;CONTRIBUTION OF ESI
EMPLOYEE 1.75%
EMPLOYER 4.75%

PF CACULATE FROM DA,BASIC;CONTRIBUTION OF PF
EMPLOYEE 12%
EMPLOYER 13.61%
 
Is This Answer Correct ?    52 Yes 7 No
Nagaraj.p
 
  Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
Answer
# 53
esi calculate on basic salary
ex:your basic salary-9000 per monthly
ESI-9000*1.75/100=157.50
and same way PF also basic salary-9000(per monthly)
PF-9000*12/100=1080.
9000-1080=7920
 
Is This Answer Correct ?    17 Yes 30 No
G.raveendra Reddy
 
  Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
Answer
# 54
HI FRIENDS,

ESIC - Gross salary is more then 10000/- Then the employee is not applicable for esi

Employee contribution - 1.75%
Employer Contribution - 4.75%

EPF - pf Calculate Basic + Da (Min 6500, Pension Calculation Is 6500 only
Employee contribution -12%
Employer contribution 8.33% is pension scheme,
3.67% for PF.
THANK YOU.
 
Is This Answer Correct ?    23 Yes 3 No
Iyanar V
 
  Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
Answer
# 55
Esi Calculated on gross Salary upto 15,000rs.
PF is contribution of employee 12% of basic salary.
 
Is This Answer Correct ?    23 Yes 4 No
Mohan Krishna
 
  Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
Answer
# 56
Hi friends!
After viewing the very good efforts from your side I think
I should also contribute something.
Well...

Any organization having minimum 10 employees, PF
registration is must and less than that the company will go
for a volunteer registration.

PF (Provident Fund)can be calculated on 12% of Basic+DA.
for example: If Basic+DA=6500/-
Then 12% of 6500=780/- can be deducted

Both employer and employee contribute 12% for PF.
From 12% of employer's contribution 8.33% goes for EPS
(Employee Pension Scheme) & 3.67% goes for EPF (Empoyee
Provident Fund).

And the Basic+DA should not exceed standard basic
i.e.,6500/- per month for employer's contribution of 12%.

If it exceeds then the employer can take exemption on his
whole 12% contribution.But in some cases the companies opt
to contribute but the contribution should be restricted to
12% of 6500/- (standard basic) only.

But the employee contribution of 12% is based on actual
Basic+DA.
For example: If Basic+DA=7000/- (exceeds standard basic of
6500/-)
Then, Employer's 12% contribution is
calculated on 6500/- (standard basic)
& employee's 12% calculation is calculated on
7000/- (actual basic)


And ESI (Employee State Insurance)is deducted every month
for employees, whose gross salary is not more than 10,000/-
Employee's contribution=1.75% of gross salary
Employer's contribution=4.75/% of gross salary
 
Is This Answer Correct ?    15 Yes 4 No
Madhusmita Pal
 
  Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
Answer
# 57
PF IS CALCULATED ON BASIC SALARY.
ESI IS CALCULATED ON GROSS SALARY. IF GROSS SALARY IS
EXCEEDS Rs. 10000/-, THE PERSON IS NOT COMES UNDER ESI
SCHEME AND NO NEED TO PAY ESI. OTHERWISE EMPLOYER
CONTRIBUTE 1.25% AND EMPLOYEE CONTRIBUTE 4.75% ON TOTAL
GROSS SALARY.
 
Is This Answer Correct ?    3 Yes 10 No
T Brahma Naidu
 
  Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
Answer
# 58
ESI contribution from Employee side = 1.75% of gross/month.
ESI contribution from Employer side = 4.75% of gross/month.
Total Contribution towards ESI = 6.5%

PF : PF is deducted on Basic Salary i.e. Basic + D.A.
(Dearness Allowances) is Rs. 6,500/- or less above that PF
if not deducted.

Employee - 12% (of basic + D.A. and food concession
allwances and retaining allowance, if any)
 
Is This Answer Correct ?    8 Yes 2 No
Sushil Choudhary
 
  Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
Answer
# 59
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.
 
Is This Answer Correct ?    6 Yes 1 No
Amit Kumar
 
  Re: How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
Answer
# 60
PF calculate on Basic +DA, ( Limit 6500/- ) .There is
option if Basic and DA is 11000/- P.F. calculate 12% i.e.
1320/- but pension scheme calculate on Rs. 6500/- i.e.
maximum limit Rs. 541/-
ESIC on gross salary, limit 15000/-

If you cant understand please mail me for further details,
dont worry i will help you free of cost
( pijush_halder56@yahoo.com )
 
Is This Answer Correct ?    3 Yes 0 No
Pijush Haldar
 

 
 
 
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