Hi All, Could you please check and confirm on email draft which we plan to share it with our employees.
This is to bring to notice that Govt of India (Ministry of Labour and Employment) has reduced the ESIC contribution with effective from 01-Jul-19 and changes in contribution mentioned below.
Particulars Current percentage of ESI Contribution Reduced rate of ESI Contribution w.e.f. 1st July, 2019
Employee share of ESI contribution 1.75% 0.75%
Employer share of ESI contribution 4.75% 3.25%
Total 6.50% 4.00%
It will impact on your salary since there is a change in employer and employee ESIC contribution, your CTC will come down meanwhile your net take home will get increased. We will implement this changes in upcoming payroll and the same will be reflected in your payslip as well.
From India, Chennai
6This is to bring to notice that Govt of India (Ministry of Labour and Employment) has reduced the ESIC contribution with effective from 01-Jul-19 and changes in contribution mentioned below.
Particulars Current percentage of ESI Contribution Reduced rate of ESI Contribution w.e.f. 1st July, 2019
Employee share of ESI contribution 1.75% 0.75%
Employer share of ESI contribution 4.75% 3.25%
Total 6.50% 4.00%
It will impact on your salary since there is a change in employer and employee ESIC contribution, your CTC will come down meanwhile your net take home will get increased. We will implement this changes in upcoming payroll and the same will be reflected in your payslip as well.
From India, Chennai
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ESI Gazette Notification-Co ntribution Rate Reduced From 4.75 to 3.15 Percentage.pdf