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How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
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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%.
| Is This Answer Correct ? | 12 Yes | 0 No |
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%
| Is This Answer Correct ? | 12 Yes | 0 No |
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.
| Is This Answer Correct ? | 18 Yes | 6 No |
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
| Is This Answer Correct ? | 12 Yes | 0 No |
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)
| Is This Answer Correct ? | 14 Yes | 2 No |
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.
| Is This Answer Correct ? | 14 Yes | 2 No |
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.
| Is This Answer Correct ? | 18 Yes | 6 No |
Answer / ujwala
PF IS CALCULATED ON BASIC - 12% on Basic & ESI IS
CALCULATED ON GROSS SALARY.
| Is This Answer Correct ? | 15 Yes | 3 No |
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....
| Is This Answer Correct ? | 13 Yes | 1 No |
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