How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
Answer Posted / neeta pandey
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/-.
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.
Is This Answer Correct ? | 282 Yes | 35 No |
Post New Answer View All Answers
how to calculate tax for the income earners
wct amount deducted by main company .that amount will be returned Subcontractor?If yes,how process is given me.
How We know we are liable for Profession Tax liability. I have an optics shop & I want PT Number so what should i do?
why is service tax set off is consider while calculating wct tds
At what rate firms are required to pay tax on their income?
How to calculate sales tax ?
Can any One Plz Help Me with TDS Charts & Filling? Plz Send Me All Details to My email Id: satish.0483@gmail.com Plz Its Asked to Me In My Interview Held In Coming 2 Or 3 Days
on earth moving road work which type of tax is applicable?
How to Prepare Balance Sheet for Annual Tax Assessment. Do You Have any Format, Please send on (Pankajica15@gmail.com)
We had paid TDS against rent in assessment year 2009-2010. But by mistake one of the pan no of the landlord was wrongly entered. Now the demand has been raised. Please advise how to correct the situation.
procedure of service tax
If we taken TIN No.for sale in intra & interstate , CST No.also required to take? ?
is there any necessity to file TDS to purchase a thing even ater paying vat
if i am running a tank lorry and the income of the tank lorry comes under haryana VAT 2003?
Define Amortization & Impairment?