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My Gross salary was Rs.14500.00 in the month of Apr-12,
And increment due in the month of April But somehow
increment delays from management side and it was released
in the month of May-12.
Now my revised salary was Rs.17500.00, ESIC contribution
deducts on Rs.17500.00 I.e. Rs.307.00 or it will be
applicable on statutory salary limit of ESIC Rs.15000.00
I.e. Max ESIC contribution amount of Rs.263.00/Month.
Please reply.
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Answer / mari
the total amount salary after deducting ESI 17193.00
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Sir, I request you to please solve my problem as given below- One Corporate is having Manufacturing unit and Trading unit also. That corporate prepared joint Balance sheet & Profit & Loss account. As given below - Corporate 1 2 Manufacturing Unit Trading Division Annual Profit by sale of product Annual profit by sale of Product Manufactured with the help of out sourced from open market for Fixed Assets ( Land,Building,Plant & Rs.150 Crs and sold for Rs.200Crs. Machineries of Rs.100 Crs. Net Profit – Rs. 5 Crs. Net Profit -Rs. 50 Crs. Total Income by clubbing both - Rs.55 Crs. But – that Corporate can avail depreciation Rs. 5 Crs only and rest amount of depreciation may be forwarded to next year. Because depreciation is meant for actual uses of Fixed assets. Otherwise Corporate used to increase the value of assets by over billing just to get benefit of depreciation from the income . Income from trading may be manipulated easily but not from manufacturing.
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