What is the full form of ESIC ?whatproportion of
PF,ESIC,EDLi,TDS,BONUS,GRATUITY etc are been decucted from
salary?
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Answer Posted / manoj modi
ESIC(EMPLOYEES’ STATE INSURANCE SCHEME OF INDIA)
TYPE CONTRIBUTION SHARE
PF 12% OF BASIC +DA Employee
PF 12% OF BASIC +DA Employer
8.33% or max. 541 for pension fund
EDLI 0.5% Basic +DA or max Rs. 32.50 Employer
"ESIC(EMPLOYEES’ STATE INSURANCE SCHEME OF INDIA
" 1.75% OF WAGES Employee
ESIC 4.75% of wages Employee
Administration charges
PF 1.1% Basic + DA Employer
EDLI 0.01% of basic + DA or max Rs. 0.65 Employer
e-TDS form 24Q filling dates
Quarter 1 JUNE 15-Jul
Quarter 2 SEP 15-Oct
Quarter 3 DEC 15-Jan
Quarter 4 MAECH 15-May
Important dates
21 st Payment of ESIC
25 th PF Form 12A
12th may ESIC Form 5
11th nov ESIC Form 5
25th july MLWF for JUNE
25th jan MLWF for Dec.
Section Transaction TDS rate in (%)
193 Interest on Debentures & Securities 10
194 Deemed Dividend 10
194 A Other Interest 10
194 B Lottery > Rs. 5000 30
194BB Win from Horse Race>2500 30
194C Contract of Transport if PAN Provided 0
Contract to Individual/HUF 1
Contract to Others 2
194 D Insurance Commission>5000 10
194EE Withdrawl from NSS>2500 20
194F Repurchase of units MF/UTI 20
194G Commission on sale of lottries>1000 10
194H Commission/Brokerage>2500 10
194I Rent>120000 p.a on Plant & Machinery 2
Rent on Land,Building etc. 10
194J Professional Fees>20000 10
194LA Compensation on Compulsory Acquisition of immovable
property >Rs.1,00,000 during the financial year 10
Surcharge 0
Cess 0
Income tax slabs 2011-2012 for General,Women,Senior
citizen,very senior citizen tax payers
Income tax slab (in Rs.) Tax Income tax
slab (in Rs.) Tax Income tax slab (in Rs.)
Tax Income tax slab (in Rs.) Tax
0 to 1,80,000 No tax 0 to 1,90,000 No tax
0 to 2,50,000 No tax 0 to 5,00,000 0%
1,80,001 to 5,00,000 10% 1,90,001 to 5,00,000
10% 2,50,001 to 5,00,000 10%
5,00,001 to 8,00,000 20%
5,00,001 to 8,00,000 20% 5,00,001 to 8,00,000
20% 5,00,001 to 8,00,000 20%
Above 8,00,000 30
Above 8,00,000 30% Above 8,00,000 30%
Above 8,00,000 30%
1. It depends upon the percentage on which your company
wants to give bonus to its employees. Minimum bonus is
8.33% of basic salary earned during the accounting year and
Maximum is 20% under the payment of Bonus Act,1965.
Any employee working in an organisation for more than equal
to 5 yrs is eligible for gratuity which is paid only on
retirement or separation by means of resignation or
termination, paid with his full n final account. it is
calculated as (Basic)/26*15* no . of completed yrs of
service , ie the employee is paid for 15days extra for
every completed yr . if the part duration is more than 6
months it is taken as one full yr and if it is less thenit
is treated null
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