Answer / rameshbabu

HI Frinds,

PF amount will calculate on basic+DA @12% and e,ployer also
pay the same amount.In this employer contribution 3.67%
will goes to PF account rest of amount 8.33% will goes to
pension fund.EPS salary was maximum 6500/-.

ESI calculate on gross salary .ESI amount will deducted
from employee side 1.75% and employer will pay 4.75%.

Answer / nagaraju arruri

THERE ARE SOME ORGANIZATIONS WHO ALLOW THEIR EMPLOYEES TO
SAVE THE MONEY BY INCREASING THE PF CONTRIBUTION OF EMPLOYEE
INTO 12% TO 15%.HERE THE EMPLOYER CONTRIBUTION IS FIXED IN
ALL CASES ie 12%

Answer / tejaswani.m.g

Dear Friends,

PF is calculated on basic salary and it's 12% of basic. If
basic is more than 6500 then also it is deducted 780 is
the maximum limit. It's due to ceiling of 6500/-.

But in some firms 780/- is not limit there is deduction of
exact 12% of basic if basic salary is 11500 then there
is deduction of 1380/-.

And in PF there is contribution from emloyer also.
If PF is deducted 780/- from employee then Employer will
also contribute 780/-. But whole this 780 is not going to
PF account. Out of 12% of employer contribution 8.33% is
contributed for pension scheme and 3.67% for PF.

And ESIC is calculated on gross salary.
If gross salary is more then 10000/- then the employee is
not applicable for ESIC.ESIC is deducted as 1.75% of gross
salary of employee.In ESIC also there is Employer's
contribution and it is 4.75% of gross salary.

Answer / sunil swami

PF will be calculated on Basic salary which should be 6500
or less then it.
and esi will be calculated on gross salary , limit of esi
from 01/05/2010 is Rs.15000
thanks

Answer / sushil choudhary

ESI contribution from Employee side = 1.75% of gross/month.
ESI contribution from Employer side = 4.75% of gross/month.
Total Contribution towards ESI = 6.5%

PF : PF is deducted on Basic Salary i.e. Basic + D.A.
(Dearness Allowances) is Rs. 6,500/- or less above that PF
if not deducted.

Employee - 12% (of basic + D.A. and food concession
allwances and retaining allowance, if any)

Answer / amit kumar

Dear Friends,
PF is calculated on basic salary and it's 12% of basic.And
if basic is more than 6500 then also it is deducted 780 is
the maximum limit.

It's due to ceiling of 6500/-.
But in some firms 780/- is not limit there is deduction of
exact 12% of basic if my basic salary is 11500 then there
is deduction of 1380/- if an employee wants to deduct his
pf more than 780. he can do this.while basic is 11500,but
employer's contribution 8.33 % calculate on 6500.

And in PF there is contribution from emloyer also.
If my PF is deducted 780/-then Employer will also
contribute 780/-.But whole this 780 is not going to PF
account.Out of 12% of employer contribution 8.33% is
contributed for pension scheme and 3.67% for PF.

And ESIC is calculated on gross salary.
If gross salary is more then 10000/- then the employee is
not applicable for ESIC.ESIC is deducted as 1.75% of gross
salary of employee.In ESIC also there is Employer's
contribution and it is 4.75% of gross salary. but now esi
gross limit increase 10000 to 15000 so esi is calculated on
gross limit 15000.

Answer / harsh

1.75% ON GROSS SALARY
12% ON BASIC SALARY

Answer / sk.nasimuddin

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.

Answer / ujwala

PF IS CALCULATED ON BASIC - 12% on Basic & ESI IS
CALCULATED ON GROSS SALARY.

Answer / bharat singh negi

for esic calculation, its always gross salary including all
remunerations / allowance / perks. The employees whose
Gross salary is less than and equal to Rs 15000/- is liable
for ESIC deduction.... The employee part is Rs 1.75% of
gross and employer part is Rs 4.75% of gross salary....

Hi, I am working in MNC, I Want to Know about TDS. What is Deposit date of TDS for all categaries & Which challan or Form What is date of Submit tds return quarterly for in a Company & Which form fill up

0 Answers  

Is t.d.s deducted on Freight including Service Tax ?

8 Answers   ABC,

I received TDS Certificate (Form No 16A) from one company, they diduct the amount from our bills. how can i refund that amount. pl tell me.

10 Answers  

Hellow this is ravindra wanted to know about excise duty rates pls suggest

0 Answers  

what is document require for vat registration?

4 Answers  

what is extra at actuals in excise duty. how 2 calculate them on basic price?

1 Answers  

IF WE ARE WORKING IN PHARMA COMPANY & I SEND THE MEDICINE SAMPLE TO THE SALSMAN IN VARIOUS PLASE OF INDIA THAT TIME MADE INVOICE OR ANY OTHER CHALLN OR RECIEPT WHAT AS PER LAW ANY TAX APPLIED IN THE INVOICE & WHICH FORM WILL BE REQUIRED HOW TO GET IT, PLEASE GIVE ME DETAIL ALL INFORMATION WITH EXAMPLE & WHAT ENTEY OF THIS TRANSATION IN BOOKS OF ACCOUNT

0 Answers  

serice tax can be exempted in calculation of tds on contract wages as exempted like rent on service tax

2 Answers  

ie it possible to charge WHT and VAT on one trancaction? if yes,kindly explain the dynamics/working of both taxes

0 Answers   Microsoft,

WHO IS SEND C FORM & WHATS MENTIONED THERE

1 Answers  

What is the Difference between VAT and Sales Tax ?

2 Answers  

please Clarify between TR-6 and gar-7 challan.

26 Answers   Alps, Simran International,