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How to calculate pf, esi, vat, sales tax etc.,
- 61 Answers
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Answer / aloysius suresh
PF : Provident fund is calculated @ 12% on the basic
salary, which indeed is deducted from Employee's salary and
the same plus 12% on the basic is contributed by the
employer. So the aggreate 12% + 12% is remitted to the
Provident fund Department
ESI : Employee State Insurance is calculated at 1.75% on
the gross salary of the employees whose salary is below Rs.
10000/-permonth (w.e.f 2008) and Employer contributes 4.75%
on the gross salary of the employee and the agreegate 1.75%
+ 4.75% is remitted to the ESI Department
VAT : VAT percentage is 1, 4, 12.5%. It is a tax which is
charged on the basic value of the product by the seller
from the buyer and the same is remitted to the Sales Tax
Departement. for eg if the product value is Rs. 100 and the
tax applicable is 4%, in such case a bill is raised for Rs.
104.
SALES TAX : Same as VAT
| Is This Answer Correct ? | 1244 Yes | 143 No |
Answer / divakaran
PF : Provident fund is calculated @ 12% on the basic
salary, which indeed is deducted from Employee's salary and
the same plus 12% on the basic is contributed by the
employer. So the aggreate 12% + 12% is remitted to the
Provident fund Department
ESI : Employee State Insurance is calculated at 1.75% on
the gross salary of the employees whose salary is below Rs.
10000/-permonth (w.e.f 2008) and Employer contributes 4.75%
on the gross salary of the employee and the agreegate 1.75%
+ 4.75% is remitted to the ESI Department
VAT : VAT percentage is 1, 4, 12.5%. It is a tax which is
charged on the basic value of the product by the seller
from the buyer and the same is remitted to the Sales Tax
Departement. for eg if the product value is Rs. 100 and the
tax applicable is 4%, in such case a bill is raised for Rs.
104.
SALES TAX : Same as VAT
| Is This Answer Correct ? | 572 Yes | 97 No |
Answer / sreedhar
Sir/Madam
i have to request to you I want full Information for all
Ie., Calculate Provident fund , ESI, Vat, TDs, Service Tax.
| Is This Answer Correct ? | 327 Yes | 63 No |
Answer / hareesh bhatt
PF : Provident fund is calculated @ 12% on the basic
salary+DA+Food Allowence+Cash Allowence (Upto Rs.6,500/-and
above of the limit, Company can decide), which indeed is
deducted from Employee's salary and deposit in PF A/c No.1
and the same plus 12% on the basic is contributed by the
employer and deposit 3.67% in the A/c No.1 and remaining
8.33% in A/c No.10 of Pension fund (which is calculated on
the maximum limit of PF Rs.6500/-). So the aggreate 12% +
12% is remitted to the Provident fund Department
ESI : Employee State Insurance is calculated at 1.75% on
the gross salary of the employees whose salary is below Rs.
10000/-permonth (w.e.f 2008) and Employer contributes 4.75%
on the gross salary of the employee and the agreegate 1.75%
+ 4.75% is remitted to the ESI Department
VAT : VAT percentage is 1, 4, 12.5%. It is a tax which is
charged on the basic value of the product by the seller
from the buyer and the same is remitted to the Sales Tax
Departement. for eg if the product value is Rs. 100 and the
tax applicable is 4%, in such case a bill is raised for Rs.
104.
SALES TAX : Same as VAT
| Is This Answer Correct ? | 291 Yes | 67 No |
Answer / raju
ESI is calculated @1.75% on gross salary & 4.75% on gross
salary for the employee & employer share respectively.
| Is This Answer Correct ? | 187 Yes | 34 No |
Answer / suchit
PF : Provident fund is calculated @ 12% on the basic
salary+DA+Food Allowence+Cash Allowence (Upto Rs.6,500/-and
above of the limit, Company can decide), which indeed is
deducted from Employee's salary and deposit in PF A/c No.1
and the same plus 12% on the basic is contributed by the
employer and deposit 3.67% in the A/c No.1 and remaining
8.33% in A/c No.10 of Pension fund (which is calculated on
the maximum limit of PF Rs.6500/-). So the aggreate 12% +
12% is remitted to the Provident fund Department
ESI : Employee State Insurance is calculated at 1.75% on
the gross salary of the employees whose salary is below Rs.
10000/-permonth (w.e.f 2008) and Employer contributes 4.75%
on the gross salary of the employee and the agreegate 1.75%
+ 4.75% is remitted to the ESI Department
VAT : VAT percentage is 1, 4, 12.5%. It is a tax which is
charged on the basic value of the product by the seller
from the buyer and the same is remitted to the Sales Tax
Departement. for eg if the product value is Rs. 100 and the
tax applicable is 4%, in such case a bill is raised for Rs.
104.
SALES TAX : Same as VAT
| Is This Answer Correct ? | 143 Yes | 28 No |
Answer / venkat
i dont know how to calclute based on that vat ps esi vat
sales tax i need to know
| Is This Answer Correct ? | 132 Yes | 65 No |
Answer / rajesh diwan
VAT : VAT percentage has been changed in terms of
VAT+Additional VAT. ie. Vat 4%+Additional Vat1%=5%,
Vat12.50%+Additional Vat 2.5%=15%,Vat 15%+Additional
Vat2.5%. And the product Value is MRP, that meanse the rate
is inclussive of all taxes. If the product Value is 100 MRP
and Vat Rate is 5%, then the nit rate will be 95.24 + 5%
Vat.
If the Product value is not MRP, you can raise the bill for
Rs.105. is 100+5% vat
And Vat is applicable only in Inter State Sales and for
Sale to Outside States CST (Central Sales Tax ie. @%) is
applicable.
| Is This Answer Correct ? | 103 Yes | 38 No |
Answer / sathis
PF : Provident fund is calculated @ 12% on the basic
salary, which indeed is deducted from Employee's salary and
the same plus 12% on the basic is contributed by the
employer. So the aggreate 12% + 12% is remitted to the
Provident fund Department
ESI : Employee State Insurance is calculated at 1.75% on
the gross salary of the employees whose salary is below Rs.
10000/-permonth (w.e.f 2008) and Employer contributes 4.75%
on the gross salary of the employee and the agreegate 1.75%
+ 4.75% is remitted to the ESI Department
VAT : VAT percentage is 1, 4, 12.5%. It is a tax which is
charged on the basic value of the product by the seller
from the buyer and the same is remitted to the Sales Tax
Departement. for eg if the product value is Rs. 100 and the
tax applicable is 4%, in such case a bill is raised for Rs.
104.
SALES TAX : Same as VAT
| Is This Answer Correct ? | 54 Yes | 12 No |
If my Basic Salary is Rs.23000/- than what is the tax impact on it ie PF,ESIC,PT & TDS with calculation. and also if i had received only 9mth salary.
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