Hello sir,
I am Altaf Sayyed. I have completed MPM. Please tell me about ESIC and EPF form numbers. What is the procedure for filling out these forms and what are the actual contributions made for all these?
Thank you,
Altaf Sayyed
From India, Pune
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I am Altaf Sayyed. I have completed MPM. Please tell me about ESIC and EPF form numbers. What is the procedure for filling out these forms and what are the actual contributions made for all these?
Thank you,
Altaf Sayyed
From India, Pune
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Hi Altaf,
ESI is contributed from both sides, by the employee as well as the employer. It is calculated based on the gross salary per month, with a maximum ceiling of Rs. 10,000 per month.
The contribution from both sides is as follows:
Employee Side - 1.75% of gross per month. For example, if an employee's gross salary is Rs. 8000 per month, the ESI contribution would be 8000 * 1.75% = Rs. 140.
Employer Side - 4.75% of gross per month. In the same example, the ESI contribution from the employer would be 8000 * 4.75% = Rs. 380.
Employees are required to fill out a declaration form, Form 1, clearly stating their gender as male or female. All declaration forms must be countersigned by the employer.
Subsequently, a return of declaration in Form 3 needs to be prepared separately for male and female employees within 10 days of filling out the declaration form.
Each employee will then be allocated a temporary identification number.
Regarding PF, it is contributed at a rate of 12% of the basic salary from both the employee and the employer. Out of the total 24% contribution, 8.33% goes to the Pension Fund, and the remaining 15.67% goes to the Provident Fund.
The ceiling for Provident Fund membership is Rs. 6500 basic per month. Even if an individual exceeds this ceiling, the contribution amount remains the same at 12% of Rs. 6500 basic.
In certain cases, contributions may be made on amounts exceeding the ceiling, but approval from the employer is required.
I hope this information helps you understand the details.
Regards,
Amit Seth
From India, Ahmadabad
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508ESI is contributed from both sides, by the employee as well as the employer. It is calculated based on the gross salary per month, with a maximum ceiling of Rs. 10,000 per month.
The contribution from both sides is as follows:
Employee Side - 1.75% of gross per month. For example, if an employee's gross salary is Rs. 8000 per month, the ESI contribution would be 8000 * 1.75% = Rs. 140.
Employer Side - 4.75% of gross per month. In the same example, the ESI contribution from the employer would be 8000 * 4.75% = Rs. 380.
Employees are required to fill out a declaration form, Form 1, clearly stating their gender as male or female. All declaration forms must be countersigned by the employer.
Subsequently, a return of declaration in Form 3 needs to be prepared separately for male and female employees within 10 days of filling out the declaration form.
Each employee will then be allocated a temporary identification number.
Regarding PF, it is contributed at a rate of 12% of the basic salary from both the employee and the employer. Out of the total 24% contribution, 8.33% goes to the Pension Fund, and the remaining 15.67% goes to the Provident Fund.
The ceiling for Provident Fund membership is Rs. 6500 basic per month. Even if an individual exceeds this ceiling, the contribution amount remains the same at 12% of Rs. 6500 basic.
In certain cases, contributions may be made on amounts exceeding the ceiling, but approval from the employer is required.
I hope this information helps you understand the details.
Regards,
Amit Seth
From India, Ahmadabad
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Dear sir, My boss say EPF actual contribution is 61% n it is divided 26%(for employee) + 35%(for employer) =61% how it is calculated... Plez tell me briefly ... Thanking you, Altaf Sayyed
From India, Pune
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From India, Pune
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Dear Altaf, For More Clearification go through this sheet. Regards ANVESH
From India, Mumbai
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From India, Mumbai
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Hi Sir,
I am Dinesh, and I am working in Nagpur with a real estate company. When I joined, there were only a few people in the company. Now we have reached a number of 20, so the company is deducting PF from our salary. Initially, we were given the CCA. Now the company is requiring us to pay for both the employee and employer contributions. This poses a significant problem for me as I do not wish to have a PF account, but the company insists that I do so. Sir, please advise me on how I can avoid this PF deduction or if there are any other means to stop or disagree with having a PF account. I am planning to construct my house on a plot I purchased last year, and I need a loan for it. However, this PF deduction is disrupting my estimated planning.
Please help me out, sir.
Thanks and regards,
Dinesh
From India, Mumbai
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I am Dinesh, and I am working in Nagpur with a real estate company. When I joined, there were only a few people in the company. Now we have reached a number of 20, so the company is deducting PF from our salary. Initially, we were given the CCA. Now the company is requiring us to pay for both the employee and employer contributions. This poses a significant problem for me as I do not wish to have a PF account, but the company insists that I do so. Sir, please advise me on how I can avoid this PF deduction or if there are any other means to stop or disagree with having a PF account. I am planning to construct my house on a plot I purchased last year, and I need a loan for it. However, this PF deduction is disrupting my estimated planning.
Please help me out, sir.
Thanks and regards,
Dinesh
From India, Mumbai
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This is Surinder, and I am working as an Executive. I received an increment in May 2017, and my salary has exceeded the coverage limit for ESIC. Could you please clarify if my ESI contributions will continue to be deducted from my salary until September 2017?
From India, Baddi
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From India, Baddi
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