ESI is deductible from salary of employee @1.75% and
Employer contributes @ 4.75%
The threshold limit is Rs.10000/- i.e. if the salary is
equal to ir more than Rs.10000/- than no ESI is deductible
from particular employee salary and also employer will not
contribute for the same.
The ESI Scheme is mainly financed by contributions raised from employees covered under the scheme and their employers, as a fixed percentage of wages. As of now, the rates of contribution are:-
( i )
1.75 percent of wages
4.75 percent of wages
Employees’ earning upto Rs.50/- a day as wages are exempted from payment of their part of contribution.
The State Govts bear one-eighth share of expenditure on Medical Benefit within the per capita ceiling of Rs.900/- per annum and any additional expenditure beyond the ceilin
The ESI deduction is always on the complete salary, who are drawing Rs. 15,000/- or less. It is not necessary for the management to deduct and pay the esi contribution for the employee who are drawing more than Rs. 15,000/- per month as wages/ salary. The employee share of contribution of ESI is @ 1.75% and employer share of contribution of ESI is @ 4.75%
I AM WORKING IN THE CORPORATE (HEAD OFFICE)OF A FINANCE
COMPANY. I CO-ORDINATE FOURTEEN BRANCHES IN DELHI. AND MY
JOB PROFILES ARE BANK RECONCILIATION,CASH RECONCILIATION,
MIS,TRAINING TO THE JR.EXECUTIVES,BRANCH VISIT,SUPPORTING
TO BRANCH,ETC. THE QUESTION WAS WHAT U DO FOR UR BRANCH? I
TOLD MY ALL JOB PROFILE BUT IT WAS NOT A GOOD ANSWER. WHAT
TO SAY FOR THE NEXT TIME?