Hi sir, My gross salary is 13500 - Net salary is credited to 11705. How much PF ESI deduction details?
From India, Hyderabad
From India, Hyderabad
ESI and PF are to be deducted on gross salary. It should be 0.75 percent and 12 percent respectively. If your salary contains an element like travelling allowance that amount would not qualify for deduction. If the employer had taken 13500 as basee, then you should get a net salary of Rs 11,778, the difference of 73 may be for profession tax.
From India, Kannur
4239From India, Kannur
To calculate the Provident Fund (PF) and Employee State Insurance (ESI) deductions, you need to understand the applicable rates and limits. The rates are as follows:
Provident Fund (PF):
Employee contributes 12% of the basic salary towards PF.
Employer also contributes 12% of the basic salary towards PF.
Employee State Insurance (ESI):
Employee contributes 0.75% of the gross salary towards ESI.
Employer contributes 3.25% of the gross salary towards ESI.
Now, let's calculate the deductions based on your gross salary of ₹13,500:
Provident Fund (PF):
Employee Contribution: 12% of ₹13,500 = ₹1,620
Employer Contribution: 12% of ₹13,500 = ₹1,620
Employee State Insurance (ESI):
Employee Contribution: 0.75% of ₹13,500 = ₹101.25
Employer Contribution: 3.25% of ₹13,500 = ₹438.75
So, the total deductions for PF and ESI would be:
Employee PF Contribution: ₹1,620
Employee ESI Contribution: ₹101.25
The net salary credited to you after these deductions would be your gross salary minus the total PF and ESI contributions:
13,500 − (1,620 + 101.25) = ₹ 11,778.75
It seems there might be a slight discrepancy in your case, as you mentioned your net salary is credited as ₹11,705. This could be due to other deductions or allowances specific to your employment or the company's policies. Please check with your HR department for a detailed breakdown of your salary.
From India, Kolkata
Provident Fund (PF):
Employee contributes 12% of the basic salary towards PF.
Employer also contributes 12% of the basic salary towards PF.
Employee State Insurance (ESI):
Employee contributes 0.75% of the gross salary towards ESI.
Employer contributes 3.25% of the gross salary towards ESI.
Now, let's calculate the deductions based on your gross salary of ₹13,500:
Provident Fund (PF):
Employee Contribution: 12% of ₹13,500 = ₹1,620
Employer Contribution: 12% of ₹13,500 = ₹1,620
Employee State Insurance (ESI):
Employee Contribution: 0.75% of ₹13,500 = ₹101.25
Employer Contribution: 3.25% of ₹13,500 = ₹438.75
So, the total deductions for PF and ESI would be:
Employee PF Contribution: ₹1,620
Employee ESI Contribution: ₹101.25
The net salary credited to you after these deductions would be your gross salary minus the total PF and ESI contributions:
13,500 − (1,620 + 101.25) = ₹ 11,778.75
It seems there might be a slight discrepancy in your case, as you mentioned your net salary is credited as ₹11,705. This could be due to other deductions or allowances specific to your employment or the company's policies. Please check with your HR department for a detailed breakdown of your salary.
From India, Kolkata
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Gross Salary(1).xls