Dear All,
It is very clear in the ESIC rules, if any employee's gross wages cross the ceiling limit of ESIC during the contribution period i.e. April to September OR October to March you have to continue his contribution till the end of the contribution period. He will also entitle for benefits as per rules for the next 9 months though his contribution is discontinued.
Thanks,
Amit Kumar Tawar
From India, Mundra
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5It is very clear in the ESIC rules, if any employee's gross wages cross the ceiling limit of ESIC during the contribution period i.e. April to September OR October to March you have to continue his contribution till the end of the contribution period. He will also entitle for benefits as per rules for the next 9 months though his contribution is discontinued.
Thanks,
Amit Kumar Tawar
From India, Mundra
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Hi Lavleen,
I feel your question is not clear, are u trying to know the total contribution after 5 years or is it that you want to know what will be the PF amount deductable after 5 years?
I think if u can reframe your question, you will be the required answer from any one from the group & it will be useful for others as well.
Regards,
Bajirao
From India, Mumbai
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I feel your question is not clear, are u trying to know the total contribution after 5 years or is it that you want to know what will be the PF amount deductable after 5 years?
I think if u can reframe your question, you will be the required answer from any one from the group & it will be useful for others as well.
Regards,
Bajirao
From India, Mumbai
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(Fact Check Failed/Partial)-[B]Response[/B]: The user's reply is not relevant to the original query about calculating ESIC based on basic salary or gross amount. It discusses PF contributions and lacks clarity.
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Hi HR Peoples,
Can you please provide me some clarification regarding the annual submiision of ESI writtens.
If we fails to give a temporary ESI card to the new joinee, What will be the implication to the employer.
What will be the use of temporary ESI card?
Regards,
V.Arunkumar.
From India, Madras
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Can you please provide me some clarification regarding the annual submiision of ESI writtens.
If we fails to give a temporary ESI card to the new joinee, What will be the implication to the employer.
What will be the use of temporary ESI card?
Regards,
V.Arunkumar.
From India, Madras
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(Fact Checked)-The ESI card is mandatory for employees covered under the ESI Act. Employers failing to provide it can face penalties. Temporary ESI cards are for immediate health coverage. (1 Acknowledge point)
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Hi, Smply Esi calculations are Employer Contri = 4.75% * (Basic +HRA+Special Allowance) Employee Contri = 1.75% * (Basic +HRA+Special Allowance) Regards Barada
From India, Madras
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From India, Madras
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(Fact Checked)-The user's reply is [B]incorrect[/B]. (1 Acknowledge point)
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PF is calculated as follows
basic salary-4000
PF deduction Employee Side for one month-4000*12/100=480
PF deduction Employeer Side for one month-4000*3.67%= 146.8
yearly-480*12(from employee side)= 5760
yearly-146.8*12(from employee side)= 1761.6
Total Contribution = +5760+1761.6+ = 7521.6
for 5yers--- 7521*5 + 9.5 % (compound interest of 5 years) =
From India, New Delhi
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basic salary-4000
PF deduction Employee Side for one month-4000*12/100=480
PF deduction Employeer Side for one month-4000*3.67%= 146.8
yearly-480*12(from employee side)= 5760
yearly-146.8*12(from employee side)= 1761.6
Total Contribution = +5760+1761.6+ = 7521.6
for 5yers--- 7521*5 + 9.5 % (compound interest of 5 years) =
From India, New Delhi
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(Fact Check Failed/Partial)-The user's reply contains errors in the calculation of PF deductions and total contribution. PF is typically calculated on Basic Salary, not Gross Amount. Please refer to the latest PF rules for accurate calculations. Thank you for sharing your input.
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Hi All, Pls. make a note of it that as per the new policy. the min limit of ESIC has been revised to 15000/-
From India, Delhi
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From India, Delhi
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(Fact Check Failed/Partial)-The user reply is incorrect. ESIC is calculated on the gross amount, not the basic salary. The minimum limit for ESIC remains Rs. 21,000, not Rs. 15,000.
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Dear Amit,
From 1.5.2010, ESIC is calculated up to a limit of 15000. ESI is contributed from both sides, by the employee as well as the employer. It is calculated based on the gross salary per month, and the maximum ceiling is 10000 Rs./Month. The contribution from both sides is as follows:
Employee Side - 1.75% of gross/month. So, if the gross of an employee is 8000/month, then the ESI contribution would be 8000 * 1.75% = 140 Rupees.
Employer Side - 4.75% of gross/month. The ESI contribution would be 8000 * 4.75% = 380 Rupees.
I hope this information helps you understand the calculation.
Regards,
Amit Seth
From India, Mumbai
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From 1.5.2010, ESIC is calculated up to a limit of 15000. ESI is contributed from both sides, by the employee as well as the employer. It is calculated based on the gross salary per month, and the maximum ceiling is 10000 Rs./Month. The contribution from both sides is as follows:
Employee Side - 1.75% of gross/month. So, if the gross of an employee is 8000/month, then the ESI contribution would be 8000 * 1.75% = 140 Rupees.
Employer Side - 4.75% of gross/month. The ESI contribution would be 8000 * 4.75% = 380 Rupees.
I hope this information helps you understand the calculation.
Regards,
Amit Seth
From India, Mumbai
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(Fact Check Failed/Partial)-The user reply contains inaccuracies. ESIC is calculated on the gross salary, not the basic salary. The current ceiling for ESIC is Rs. 21,000, and the employee's contribution rate is 1.75%, while the employer's contribution rate is 4.75%. Please ensure compliance with the latest regulations.
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Dear Friend, While giving the sickness benifit to the employees, the ESI officials are not paying SUNDAYs . Is there is any rule ? Regards, PBS KUMAR
From India, Kakinada
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From India, Kakinada
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(Fact Check Failed/Partial)-The reply provided is incorrect. According to ESIC rules, sickness benefits are payable for all days including Sundays. There is no exclusion for Sundays in the calculation of sickness benefits.
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Dear all, I have one queri,my baby born on 19 July 2015 and I got the form 18 on 18 august 2015 please tell its count 30 days or 31 day.
From India, Delhi
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From India, Delhi
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(Fact Check Failed/Partial)-The user reply is not relevant to the original post about ESIC calculation. The query is about counting days for Form 18, not related to ESIC calculation.
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(Fact Check Failed/Partial)-The user's reply is partially correct. ESIC contributions are calculated on the employee's gross salary, not just when it crosses the ceiling limit. The employee's contribution stops once the gross salary exceeds the limit. Benefits continue for the next 9 months. Please verify the ESIC rules for accurate details. Thank you for sharing your insights.