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,
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Ya here you see that salary is included with Basic+Dearness
Allowances.so for every one PF is 12% and ESI is 1.75%.
I would like to give you a better example.
Example is 5500/-
Gross salary is 5500*40%=2200-5500 = 3300
PF:- 3300*12% = 396
ESI:- 3300*1.75 = 57.75
According to PF slab
so finally 5500-396-57.75-60 = 5043 so the salary we get
after deductions is 5043.
ESI will be deducts the salary is <or= 15000, 1.75% from
employee, 4.75% from employer from gross. PF is 12% from
employee at the same employer from basic salary is maximum
6500 & valuntary deductions also accepts.
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,
My BASIC Salary is 18,000 & My GROSS Salary is 40,000
My LIC Saving Policy 1,50,000 PER Year & My House Rent Paid
on Monthly 7,500.
How much TAX PAYABLE IN THE FINANCIAL YEAR ( 2010-2011).
Please Tell me.
PF WILL BE CALCULATE ON 6500 @ 12% IF EMPLOYEE SALARY IS
MORE THAN 6500 WE NOT CHARGE ON MORE AMOUNT. ESI IS
CALCULATED ON 1.75% ON GROSS SALARY WE CAN SAY OTHER WORDS
AS 6500 + DA AND OTHER ALLOWANCE PAID BY EMPLOYER.
PF Salary few companies take basic+Da or on basic 12%
For Ex. My salary is 8000/- employee PF 960/- and employer
also will pay 960/-.but it is two ways.Employer pension
salary take maximium 6500/-(8.33%) that mean pension
maximum amount Rs. 541/- rest of amount will goes to PF
ESI salary is on gross 1.75% from employee side and
employer will pay on gross 4.75% that mean total 6.5%(OT
hours and Night shift allown,exmpted)
When a company sold the material to is customer which is at
another state under Form-C his bill was pertaining to first
quarter but the customer received in second quarter. The
customer will issue Form-C as per Invoice date or Material