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Categories >> Accounting >> Audit
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1905)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
Question
What is Esi ,Pf,and Payroll?
 Question Submitted By :: Audit
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
SI and PF are statutory requirement. Every company or
institution should contribute 12% on the basic wages of the
employees as the employer contribution apart from deducting
the same amount from the employees salary. At the same time
an additional 1.61% is to be contributed by the employer
towards Administration charges, inspection charges and DLI
charges.
Regarding ESI employer has to contribute 4.75% of the gross
salary and 1.75% to be deducted from the employees on the
gross salary.
Payroll is nothing but the salary details of the employees
 
Is This Answer Correct ?    21 Yes 0 No
S.koteeswaran
 
Answer
# 2
ESI:Employees State Insurance
PF:Provident Fund
PAYROLL:Range of Salary
ESI,PF are the savings by employees as well as these are
contributed by employers to some extent.
 
Is This Answer Correct ?    22 Yes 2 No
Lalitha
 
 
 

 
 
 
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