Please give me a suggession to calculate the T.D.S,E.S.I,P.F,
From salary which is in gross Rs. 15000/.
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Answer Posted / Monark Chawla
Calculating Tax Deduction at Source (TDS), Employee's Provident Fund (EPF), and Employees' State Insurance (ESI) can be complex due to various factors such as your location, income tax slab, PF/ESI thresholds, etc. Here is a general guide for the given salary:
1. TDS: As of FY 2023-24, if you are an individual earning more than INR 2.5 lakhs per annum, TDS will be deducted at a rate of 5%. Use Form 16 to calculate the TDS amount for each month and subtract it from your monthly salary.
2. EPF: Under the current rules, both employee and employer contribute 12% of the basic salary plus dearness allowance (DA) up to a maximum limit of INR 700 per month. For a salary of INR 15,000, the total EPF contribution would be INR 675 (INR 348 by employee and INR 327 by employer).
3. ESI: Employees earning less than INR 27,000 per month are eligible for ESI contributions. The rate is 4.75% each for employee and employer on the first INR 15,000 of the salary. For a salary of INR 15,000, the total ESI contribution would be INR 238 (INR 120 by employee and INR 118 by employer).
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