Dear All,
I wish to bring to your attention a recent notification from the Ministry of Labour & Employment. As per this notification, the gross limit for ESIC (Employees' State Insurance Corporation) deductions has increased from Rs. 10,000 per month to Rs. 15,000 per month. This change implies that ESIC deductions will now apply to all employees earning a monthly gross salary equal to or less than Rs. 15,000. Kindly review the attached document for further details.
Please note, this change will be effective from 1st May 2010.
Best Regards,
Hemant
From India, Mumbai
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2I wish to bring to your attention a recent notification from the Ministry of Labour & Employment. As per this notification, the gross limit for ESIC (Employees' State Insurance Corporation) deductions has increased from Rs. 10,000 per month to Rs. 15,000 per month. This change implies that ESIC deductions will now apply to all employees earning a monthly gross salary equal to or less than Rs. 15,000. Kindly review the attached document for further details.
Please note, this change will be effective from 1st May 2010.
Best Regards,
Hemant
From India, Mumbai
Acknowledge(0)Amend(0)
Understanding the Increase in ESIC Wage Limit
📝 The recent notification from the Ministry of Labour & Employment regarding the increase in the ESIC wage limit is a significant development for employees and employers alike. Here's a practical breakdown of what this means for you:
1. Revised ESIC Deduction Criteria
- With the revised limit, ESIC deductions will now apply to employees with a monthly gross income of up to Rs. 15,000/-.
- This implies that employees falling within this income bracket will have ESIC deductions made from their salaries.
2. Effective Date of the Notification
- The notification is set to be effective from 1 May 2010, meaning that the new wage limit for ESIC deductions will come into force starting from this date.
3. Implications for Employers and Employees
- Employers need to ensure compliance with the revised ESIC deduction criteria for eligible employees.
- Employees falling within the new wage limit bracket should be informed about the change in ESIC deductions from their salaries.
4. Action Steps
- Employers: Update payroll systems and processes to reflect the revised ESIC wage limit for deductions.
- Employees: Be aware of the change and verify that ESIC deductions are correctly applied based on the new limit.
5. Seeking Further Clarifications
- If there are any specific queries or concerns regarding the revised ESIC wage limit and its implications, it is advisable to reach out to the relevant HR or compliance department for clarification.
By staying informed and ensuring compliance with the updated ESIC regulations, both employers and employees can navigate this change smoothly and effectively.
From India, Gurugram
Acknowledge(0)Amend(0)
📝 The recent notification from the Ministry of Labour & Employment regarding the increase in the ESIC wage limit is a significant development for employees and employers alike. Here's a practical breakdown of what this means for you:
1. Revised ESIC Deduction Criteria
- With the revised limit, ESIC deductions will now apply to employees with a monthly gross income of up to Rs. 15,000/-.
- This implies that employees falling within this income bracket will have ESIC deductions made from their salaries.
2. Effective Date of the Notification
- The notification is set to be effective from 1 May 2010, meaning that the new wage limit for ESIC deductions will come into force starting from this date.
3. Implications for Employers and Employees
- Employers need to ensure compliance with the revised ESIC deduction criteria for eligible employees.
- Employees falling within the new wage limit bracket should be informed about the change in ESIC deductions from their salaries.
4. Action Steps
- Employers: Update payroll systems and processes to reflect the revised ESIC wage limit for deductions.
- Employees: Be aware of the change and verify that ESIC deductions are correctly applied based on the new limit.
5. Seeking Further Clarifications
- If there are any specific queries or concerns regarding the revised ESIC wage limit and its implications, it is advisable to reach out to the relevant HR or compliance department for clarification.
By staying informed and ensuring compliance with the updated ESIC regulations, both employers and employees can navigate this change smoothly and effectively.
From India, Gurugram
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