hello sir,
i am altaf sayyed, i have completed MPM. Plaz tell me about ESIC, EPF form no. what is the procedure feeling these form n actual contribution made for all these...
Thanking you
Altaf sayyed
From India, Pune
i am altaf sayyed, i have completed MPM. Plaz tell me about ESIC, EPF form no. what is the procedure feeling these form n actual contribution made for all these...
Thanking you
Altaf sayyed
From India, Pune
Hi Altaf..
ESI is contributed from both the sides Employee as well as Employer.
It is been calculated on the basis of Gross salary per month and the maximum ceiling is 10000 Rs./Month.
The contribution from both the sides is as below-
Employee Side- 1.75% of gross/month
So if gross of an employee is 8000/month then
ESI contribution would be 8000*1.75% = 140 Rupees
Employer side- 4.75% of gross/month
ESI contribution would be 8000* 4.75% = 380 Rupees.
Employees have to fill up a declaration form FORM 1, written clearly Male or Female. All the declaration forms should be counter signed by the employer.
Then prepare a return of declaration in form 3 separate for Male & Female within 10 days of filling of declaration form.
Then every employee shall be alloted an temporary identification number.
Whereas, PF is contributed @ 12% of basic salary from both the sides employee as well as employer.. Out of this 12+12 = 24%, 8.33% goes to Pension Fund and rest 15.67% goes to Provident Fund ..
The ceiling for being a member of Provident Fund is 6500/- basic per month. Even one may remain a member after crossing this ceiling amount, but the amount of contribution would remain same @ 12 % of 6500/- basic only..
In Some cases.. it remain contributed on more than ceiling amount also but it requires the approval from the employer..
Hope it must have helped you to get it understand..
Regards,
Amit Seth.
From India, Ahmadabad
ESI is contributed from both the sides Employee as well as Employer.
It is been calculated on the basis of Gross salary per month and the maximum ceiling is 10000 Rs./Month.
The contribution from both the sides is as below-
Employee Side- 1.75% of gross/month
So if gross of an employee is 8000/month then
ESI contribution would be 8000*1.75% = 140 Rupees
Employer side- 4.75% of gross/month
ESI contribution would be 8000* 4.75% = 380 Rupees.
Employees have to fill up a declaration form FORM 1, written clearly Male or Female. All the declaration forms should be counter signed by the employer.
Then prepare a return of declaration in form 3 separate for Male & Female within 10 days of filling of declaration form.
Then every employee shall be alloted an temporary identification number.
Whereas, PF is contributed @ 12% of basic salary from both the sides employee as well as employer.. Out of this 12+12 = 24%, 8.33% goes to Pension Fund and rest 15.67% goes to Provident Fund ..
The ceiling for being a member of Provident Fund is 6500/- basic per month. Even one may remain a member after crossing this ceiling amount, but the amount of contribution would remain same @ 12 % of 6500/- basic only..
In Some cases.. it remain contributed on more than ceiling amount also but it requires the approval from the employer..
Hope it must have helped you to get it understand..
Regards,
Amit Seth.
From India, Ahmadabad
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
From India, Pune
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
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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