Dear Sir/Madam,
I have gone through several postings and understood that ESI should be calculated on Gross salary.
If i am not wrong..Gross salary=CTC-Employer PF Contribution-Employer ESI contribution.
If we want to calculate Gross salary we need to know ESI Percentage and for ESI calculation we need to know Gross salary. So how can we arrive at conclusion in calculation.
kindly help me out on this.
From India, Hyderabad
I have gone through several postings and understood that ESI should be calculated on Gross salary.
If i am not wrong..Gross salary=CTC-Employer PF Contribution-Employer ESI contribution.
If we want to calculate Gross salary we need to know ESI Percentage and for ESI calculation we need to know Gross salary. So how can we arrive at conclusion in calculation.
kindly help me out on this.
From India, Hyderabad
The ESI Contribution for Employer is 4.75% and that of Employee it is 1.75% of Gross Salary. You have to make reverse calculation i.e. CTC-Employer PF Contribution = sum arrived to be divided with 1.0475 whatever you get is the gross salary.
Hope that you got your query resolved
From India, Ahmadabad
734Hope that you got your query resolved
From India, Ahmadabad
It is gross salary.But not CTC which consist of employers share of PF,ESI,Gratuity,and other cost incurred by employer for transport,food etc. Varghese Mathew
From India, Thiruvananthapuram
From India, Thiruvananthapuram
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PF & ESI CALCULATION SHEET EXAMPLE.xls