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What are the PF, EPF, ESI, PPF and how these can be
calculated ?
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Answer Posted / bishnu prasad dash
EPF/PF :Employee Provident Fund( provident fund ) is a
retirement benefit scheme that is available to salaried
employees.Stipulated amount (currently 12%) is deducted
from the employee's salary and contributed towards the fund.
The employer also contributes an equal amount to the fund.
PPF :The Public Provident Fund has been established by the
central government. You can voluntarily decide to open
one.The minimum amount to be deposited in this account is
Rs 500 per year. The maximum amount you can deposit every
year is Rs 70,000.
ESI: Is calculated on employees GROSS salary its also
includes Incentives & NFH (National Festival Holidays &
other Allowanes.Both Employer ( 4.75%) & Employee (1.75%)
Must contribute ESI Pay on Employee Gross Salary
| Is This Answer Correct ? | 23 Yes | 9 No |
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