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How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
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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 |
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