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Question
What is the full form of ESIC ?whatproportion of
PF,ESIC,EDLi,TDS,BONUS,GRATUITY etc are been decucted from
salary?
 Question Submitted By :: CAT
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
The abbreviation ESIC stands for "Employee's State Insurance
Scheme".
check this link for more
information:http://esic.nic.in/citizen_charter.htm
The deduction in salary against various heads are as given
below:

PF: 12% of Basic+DA (Employee Share)
12% of Basic+DA (Employer Share)

ESIC : 1.75% of Gross Salary (Employee Share)
4.75% of Gross Salary (Employer Share)

EDLI : 0.5%
 
Is This Answer Correct ?    208 Yes 14 No
Naresh
 
Answer
# 2
The abbreviation ESIC stands for "Employee's State Insurance
Scheme".
check this link for more
information:http://esic.nic.in/citizen_charter.htm
The deduction in salary against various heads are as given
below:

PF: 12% of Basic+DA (Employee Share)
12% of Basic+DA (Employer Share)

ESIC : 1.75% of Gross Salary (Employee Share)
4.75% of Gross Salary (Employer Share)

EDLI : 0.5%
 
Is This Answer Correct ?    105 Yes 20 No
Aniket
 
 
 
Answer
# 3
The abbreviation ESIC stands for "Employee's State Insurance
Scheme".
check this link for more
information:http://esic.nic.in/citizen_charter.htm
The deduction in salary against various heads are as given
below:

PF: 12% of Basic+DA (Employee Share)
12% of Basic+DA (Employer Share)

ESIC : 1.75% of Gross Salary (Employee Share)
4.75% of Gross Salary (Employer Share)

EDLI : 0.05%
 
Is This Answer Correct ?    48 Yes 12 No
Aravindan S
 
Answer
# 4
What are the Rules For ESIC Dedudtion and PF Deductions? 
Is This Answer Correct ?    43 Yes 13 No
Sunil Kasana
 
Answer
# 5
The abbreviation ESIC stands for "Employee's State Insurance
Scheme".
check this link for more
information:http://esic.nic.in/citizen_charter.htm
The deduction in salary against various heads are as given
below:

PF: 12% of Basic+DA (Employee Share)
12% of Basic+DA (Employer Share)

ESIC : 1.75% of Gross Salary (Employee Share)
4.75% of Gross Salary (Employer Share)

EDLI : 0.5%
 
Is This Answer Correct ?    47 Yes 18 No
Aravindan S
 
Answer
# 6
full form of ESIC is Employee State Insurance Corporation.
percentage of conatribution is as below:-
(a) PF - 12% of Basic +DA+VDA from employee and 13.61% from
employer i.e. 8.88% in a/c No 10, 3.67% in a/c No 1, 1.1%
in a/c No 2, .5% in a/c No 21 and 0.01% in a/c No 22
(b) 1.75% of Gross salary from employer and 4.75% from
employees.
(c) EDLI - 0.5% as deducted with EPF as a/c No 21
deducation.
(d) Minimum 8.33% or Maximum 20%
(e)Gratuity is applicabale after 5 year service and
calculate the same as per formula,
Gratuity - Present salary(Basic +DA+VDA)*15*No of year
served/26
 
Is This Answer Correct ?    36 Yes 14 No
Ankit
 
Answer
# 7
The full form of ESIC is EMPLOYEES’ STATE INSURANCE SCHEME
OF INDIA.
ESIC : 1.75% of Gross Salary (Employee Share)
4.75% of Gross Salary (Employer Share) .

PF: 12% of Basic+DA (Employee Share)
12% of Basic+DA (Employer Share).

EDLI - 0.5% as deducted with EPF as a/c No 21
deducation.

(e)Gratuity is applicabale after 5 year service and
calculate the same as per formula,
Gratuity - Present salary(Basic +DA+VDA)*15*No of year
served/26.

TDS means Tax dedcuted at sourece,
Total income less deduction U/s 16 and Deduction u/s 80c,
cc and 80D equal taxable income
 
Is This Answer Correct ?    26 Yes 10 No
Shoaib Khan
 
Answer
# 8
E.s.i.c 
Is This Answer Correct ?    26 Yes 11 No
Dipika
 
Answer
# 9
this post was real good help.. thanks 
Is This Answer Correct ?    6 Yes 1 No
Tejaswita
 
Answer
# 10
ESIC(EMPLOYEES’ STATE INSURANCE SCHEME OF INDIA)
TYPE CONTRIBUTION SHARE
PF 12% OF BASIC +DA Employee
PF 12% OF BASIC +DA Employer
8.33% or max. 541 for pension fund
EDLI 0.5% Basic +DA or max Rs. 32.50 Employer
"ESIC(EMPLOYEES’ STATE INSURANCE SCHEME OF INDIA


" 1.75% OF WAGES Employee
ESIC 4.75% of wages Employee
Administration charges
PF 1.1% Basic + DA Employer
EDLI 0.01% of basic + DA or max Rs. 0.65 Employer
e-TDS form 24Q filling dates
Quarter 1 JUNE 15-Jul
Quarter 2 SEP 15-Oct
Quarter 3 DEC 15-Jan
Quarter 4 MAECH 15-May
Important dates
21 st Payment of ESIC
25 th PF Form 12A
12th may ESIC Form 5
11th nov ESIC Form 5
25th july MLWF for JUNE
25th jan MLWF for Dec.
Section Transaction TDS rate in (%)
193 Interest on Debentures & Securities 10
194 Deemed Dividend 10
194 A Other Interest 10
194 B Lottery > Rs. 5000 30
194BB Win from Horse Race>2500 30
194C Contract of Transport if PAN Provided 0
Contract to Individual/HUF 1
Contract to Others 2
194 D Insurance Commission>5000 10
194EE Withdrawl from NSS>2500 20
194F Repurchase of units MF/UTI 20
194G Commission on sale of lottries>1000 10
194H Commission/Brokerage>2500 10
194I Rent>120000 p.a on Plant & Machinery 2
Rent on Land,Building etc. 10
194J Professional Fees>20000 10
194LA Compensation on Compulsory Acquisition of immovable
property >Rs.1,00,000 during the financial year 10
Surcharge 0
Cess 0
Income tax slabs 2011-2012 for General,Women,Senior
citizen,very senior citizen tax payers


Income tax slab (in Rs.) Tax Income tax
slab (in Rs.) Tax Income tax slab (in Rs.)
Tax Income tax slab (in Rs.) Tax
0 to 1,80,000 No tax 0 to 1,90,000 No tax
0 to 2,50,000 No tax 0 to 5,00,000 0%
1,80,001 to 5,00,000 10% 1,90,001 to 5,00,000
10% 2,50,001 to 5,00,000 10%
5,00,001 to 8,00,000 20%
5,00,001 to 8,00,000 20% 5,00,001 to 8,00,000
20% 5,00,001 to 8,00,000 20%
Above 8,00,000 30
Above 8,00,000 30% Above 8,00,000 30%
Above 8,00,000 30%
1. It depends upon the percentage on which your company
wants to give bonus to its employees. Minimum bonus is
8.33% of basic salary earned during the accounting year and
Maximum is 20% under the payment of Bonus Act,1965.
Any employee working in an organisation for more than equal
to 5 yrs is eligible for gratuity which is paid only on
retirement or separation by means of resignation or
termination, paid with his full n final account. it is
calculated as (Basic)/26*15* no . of completed yrs of
service , ie the employee is paid for 15days extra for
every completed yr . if the part duration is more than 6
months it is taken as one full yr and if it is less thenit
is treated null
 
Is This Answer Correct ?    2 Yes 0 No
Manoj Modi
 

 
 
 
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