Can any one advise,difference between gross wages, epf wages, eps wages and edli wages in ecr file?
if i take employee gross wages 25000 per month,Basic 50% on gross..ie 12500,...
if employee worked full days in a month 31 days what we take epf wages, eps wages and edli wages in ecr file?
and if employee worked 25 day what we take epf wages, eps wages and edli wages in ecr file?
From India, Hyderabad
if i take employee gross wages 25000 per month,Basic 50% on gross..ie 12500,...
if employee worked full days in a month 31 days what we take epf wages, eps wages and edli wages in ecr file?
and if employee worked 25 day what we take epf wages, eps wages and edli wages in ecr file?
From India, Hyderabad
Dear Varun,
# Gross Wages: The gross wages means the total emoluments for the month
# EPF Wages: Wages on which the employer is supposed to remit the dues.
-Number No decimals allowed.
-EPF wages cannot be more than the Gross wages.
-The Exempted Establishments under EPF Scheme should also fill in the EPF Wages.
-‘0’ (zero) wages can be allowed only in case the employee did not earn any wage during the month.
-If the employer is restricting the dues on wage ceiling of 15000 and the employee is contributing on his full wages above 15000/-then 15000 should be shown as EPF wages.
In case the employer is paying his dues on above wage ceiling, that wage should be entered.
# EPS Wages: The present wage ceiling is 15000/-.
-Number No decimals allowed.
-EPS wages cannot be more than EPF wages.
-It can be less if the EPF wages are above 15000/-. In such case it should be 15000/-.
-It can be 0 if the member is not a member of EPS (due to age above superannuation, or a new member after 01.09.2014 with wages above wage ceiling).
# EDLI Wages: Cannot be more than 15000/-
-Number No decimals allowed.
-The EDLI wages should be equal to EPF wages but maximum 15000/-.
-It cannot be less than EPF wages if the EPF wages are less than 15000/-.
-It can be 0 if the establishment is exempted under EDLI, and in case the member is individually exempted.
## In your case: Basic Rs.12500/ (If full month working)
Employee Contribution: 12% of 12500 in A/C -1
Employer Contribution: 3.67% in A/C-1 & 8.33% in A/C -10 of 12500, 0.5% of 12500 in A/C-21, 0.65% of A/C-1 in A/C-2
If 25 days working then Gross salary divided by 26 or 30 or 31 days whatever applicable in your organization and percentage of contribution will be same for both i.e. employee and employer.
Regards,
Amit
From India, Delhi
139# Gross Wages: The gross wages means the total emoluments for the month
# EPF Wages: Wages on which the employer is supposed to remit the dues.
-Number No decimals allowed.
-EPF wages cannot be more than the Gross wages.
-The Exempted Establishments under EPF Scheme should also fill in the EPF Wages.
-‘0’ (zero) wages can be allowed only in case the employee did not earn any wage during the month.
-If the employer is restricting the dues on wage ceiling of 15000 and the employee is contributing on his full wages above 15000/-then 15000 should be shown as EPF wages.
In case the employer is paying his dues on above wage ceiling, that wage should be entered.
# EPS Wages: The present wage ceiling is 15000/-.
-Number No decimals allowed.
-EPS wages cannot be more than EPF wages.
-It can be less if the EPF wages are above 15000/-. In such case it should be 15000/-.
-It can be 0 if the member is not a member of EPS (due to age above superannuation, or a new member after 01.09.2014 with wages above wage ceiling).
# EDLI Wages: Cannot be more than 15000/-
-Number No decimals allowed.
-The EDLI wages should be equal to EPF wages but maximum 15000/-.
-It cannot be less than EPF wages if the EPF wages are less than 15000/-.
-It can be 0 if the establishment is exempted under EDLI, and in case the member is individually exempted.
## In your case: Basic Rs.12500/ (If full month working)
Employee Contribution: 12% of 12500 in A/C -1
Employer Contribution: 3.67% in A/C-1 & 8.33% in A/C -10 of 12500, 0.5% of 12500 in A/C-21, 0.65% of A/C-1 in A/C-2
If 25 days working then Gross salary divided by 26 or 30 or 31 days whatever applicable in your organization and percentage of contribution will be same for both i.e. employee and employer.
Regards,
Amit
From India, Delhi
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