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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 (1913)
 Accounting General interview questions  Accounting General Interview Questions (2841)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4372)
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
# 51
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 ?    4 Yes 0 No
Pijush Haldar
 
Answer
# 52
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.
 
Is This Answer Correct ?    4 Yes 0 No
Jagdish Singh
 
Answer
# 53
HI Frinds,

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
Rs.419/-

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)
 
Is This Answer Correct ?    7 Yes 4 No
Rameshbabu
 
Answer
# 54
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
5001-6001=60
so finally 5500-396-57.75-60 = 5043 so the salary we get
after deductions is 5043.
 
Is This Answer Correct ?    14 Yes 11 No
Swetha
 
Answer
# 55
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.
 
Is This Answer Correct ?    5 Yes 2 No
Sk.nasimuddin
 
Answer
# 56
PF WILL BE CALCULATE @12% ON GROSS SALARY (BASIC + DA) IF
SALARY IS MORE THEN 6500 THEN WE CALCUKATE 12% ON 6500 =780
AND ESI WILL CALCULATE ON GROSS SALARY THE RATE OF ESI IS
1.75% BY EMPLOYEE AND 4.75% BY THE SIDE OF EMPLOYER
AND PF RATE IS 12% BY EMPLOYEE AND 13.61% BY EMPLOYEER
INCLUDING EMPLOYEE INSURANCE PLAN AND MPLOYEE PANSION PLAN
 
Is This Answer Correct ?    4 Yes 1 No
Manish 7737865822
 
Answer
# 57
Now the ESI gross limit is Rs.15,000 and for this gross
purpose we need to eliminate only OT portion
 
Is This Answer Correct ?    4 Yes 1 No
Mohan Koduri
 
Answer
# 58
ESI CALCULATED IN GROSS SALARY & PF IS BASIC SALARY 
Is This Answer Correct ?    5 Yes 2 No
Amit Mathur
 
Answer
# 59
for esic calculation, its always gross salary including all
remunerations / allowance / perks. The employees whose
Gross salary is less than and equal to Rs 15000/- is liable
for ESIC deduction.... The employee part is Rs 1.75% of
gross and employer part is Rs 4.75% of gross salary....
 
Is This Answer Correct ?    4 Yes 1 No
Bharat Singh Negi
 
Answer
# 60
ESI is calculted on gross salary i.e maximum salary rs 15000.00@ 1.75% 
Is This Answer Correct ?    3 Yes 0 No
Sonu
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
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what mean of withholdingtax ?   1
My company liable to paid Service tax for GTA (Goods Transport Agency) in Jan,Feb & March month. our Transport made on 15.02.09 and Transport bill accounted on 02.03.09. on 25.02.09 Service tax reduced 12.36% to 10.30%. So my quastion is what rate should i caluculate to paid the tax. while transport date (12.36%) or Bill accounted date (10.30%) pl tell me.   4
is the company liable to deduct and pay professional tax for directors?   5
what is the last date for payment of tds for the month of March - for the last three assessment years?   1
Dear sir, Please explain, Suppose I am not adjusted entire year the Input Tax Credit for sales tax related. Sales tax authority will return back the ITC Amount suppose not claiming not adjusted, it is possible or other wise that amount shall I carry forward next year?   1
What is the QIS Report? what is the use of QIS Report in brief? Capital-IQ 3
DEAR ALL WE RECENTLY GET TIN .CAN WE SALE CENTRAL ON THIS TIN ? HOW TO FILE DVAT RETURN?   1
Is Service Tax Applicable on Hospitals?   3
Labour charges for Assembly and Calibration is liable for service tax, & whats the limit   1
When the C-Form should be issued, Whether it is from the date of Invoice OR from the date of material received (Goods Receipt Date)   5
Is the Cess to be charged on the TDS made on Proffessional Charges?   1
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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