Interested to Buy Any Domain ? << Click Here >> for more details...
How to calculate pf, esi, vat, sales tax etc.,
- 61 Answers
- 728584 Views
- Aparna Enterprises, Cap Gemini, Genpact, Gurcharan International, HCL, Pushp Steel, Shriram, TCS, I also Faced
- E-Mail Answers
Answer Posted / nitin kumar (ghaziabad (iijt))
(A)EPF:
Now a days all the companies who emplyees 10 or more
employees should be covered under EPF ACT.
(B)Employee Contribution:
If Employee Basic (Basic means Basic + DA/VDA) is
Lesser than 6500
1) 12% on Employee Basic Salary is Mandatory
(If Employee Basic (Basic means Basic + DA/VDA) is more
than 6500)
1) There is option of exemption from PF & If
management wishes to cover
then employee shall be coverd under EPF Benefit
2) Employee contribution shall be limited upto the
basic of 6500 that is Rs 780/-
(Rs 780/- is 12% on 6500) OR
3) Employee contribution shall be coverd on full basic
no ceiling limit
(Eg. If employee basic is 10,000/- then 12% on the
basic is 1200/-)
(Employer Contribution ( Company Contribution))
If Employee Basic (Basic means Basic + DA/VDA) is
Lesser than 6500
1) 12% on Basic Salary is Mandatory ( Equal
Contribution of employee)
(If Employee Basic (Basic means Basic + DA/VDA) is more
than 6500
1) If employer decides to cover employee under EPF act
then even employer
shall contribute
2) Employer contribution shall be limited upto the
basic of 6500 that is Rs 780/-
Same contrbution as of Employee (Rs 780/- is 12% on
6500) OR
3) Employer contribution shall be coverd on full basic
no ceiling limit
(Eg. If employee basic is 10,000/- then 12% on the
basic is 1200/-)
Employer contribution shall be splitted into EPF
(8.33%) and PF (3.67%)
(if Employer contribtuion is above 780/- then 541 will go
for Pension fund &
balance for EPF)
Apart from the contribution there are additional charges
from employes
A) 1.10% as Admin charges on total wages of Employee
(Ac. No. 2)
B) 0.5% as EDLI Charges on the contribution wages (Ac.
No. 21)
C) 0.01% as EDLI Admin Charges on the contribution
wages (Ac. No. 22) or
Minimum of 5Rs
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
what is the detail procedure to filling ITR-I,ITR-II AND ITR- 1V V1 IE e-filling procedure
WHAT IS TDS?SHOULD WE FILE TDS TO PURCHASE A THING .SHOULD WE PAY BOTH TDS &TCS FOR THE SAME THING
What is the %age of T.A.,D.A.,H.R.A.,BASIC
If we taken TIN No.for sale in intra & interstate , CST No.also required to take? ?
What is total income?
Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
What items fall under the category of ‘securities’?
Hai iam a VAT Registered dealer am a manufacturer and am going to sell my products to unregistered dealers i can pay d 4% vat.. how can i make my bill format for this sgrc.gy@gmail.com. anybdy kno means pls mail me.
How can company withdraw the amount of Group Superannuation of the employee who has left the job before completion of one year ?
how to calculate of FBT with example & what is Rate
What is the difference between Indian and us taxation
1. Defination of Contractor & sub contractor 2. In cash method of accounting can we claim TDS deducted on Advance Recevied from contractee.
Why TDS is not deducted on JSTF Contribution of Hinjewadi Industries Association?
Whether We can Get the Refund of Service Tax Paid Wrongly to the department.We are not suppose to pay the tax and we knew after that we can adjust that servies tax what we have collected from our client aganst services received from our suppliers.
What is the different between Excise Invoice and Invoice
