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.
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.
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,
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
scrap material value 5000/- vat rate is 5%+tcs. now my
1.how much value of tcs & vat.
2.after taxable value add vat or add tcs (before vat or tcs)
& how much value of vat & tcs. Plz reply me