dear, Esi always deduct on total in hand salary including OT. PF always deduct on basic+DA Neeraj Uflex ltd noida 9718485060
From India, Madras
1From India, Madras
Dear Lakshika,
I'll confuse little more, U invited more trouble, see the attachment. Don't blame me.
Rgds.
Kumar
Bg.
How to Calculate ESI:
For PF: Wages means Basic + DA+ Food subsidy+leave encashment(if paid).
On PF wages, employee will subscribe 12% and employer also contributed 12%.
The employer's contribution split into PF 3.67% and Pension Fund 8.33%.
For the purpose of PF wages ceiling is or even if salary/wages is more than Rs.6500/- it will be restricted upto Rs.6,500/-.
For ESI: Salary or Wages (both one and the same) means basic+DA+allowances+overtime.
But Conveyance allw.should not be considered.
For ESI revised limit Rs.15,000/-maximum once exceeded they will not be eligible.
The employee will be recoverd @ 1.75% of gross salary/wage and employer contribute @ 4.75% on employee's gross.
Any minimum wages, no minimum limit, also attract to ESI deduction.
From India, Bangalore
I'll confuse little more, U invited more trouble, see the attachment. Don't blame me.
Rgds.
Kumar
Bg.
How to Calculate ESI:
For PF: Wages means Basic + DA+ Food subsidy+leave encashment(if paid).
On PF wages, employee will subscribe 12% and employer also contributed 12%.
The employer's contribution split into PF 3.67% and Pension Fund 8.33%.
For the purpose of PF wages ceiling is or even if salary/wages is more than Rs.6500/- it will be restricted upto Rs.6,500/-.
For ESI: Salary or Wages (both one and the same) means basic+DA+allowances+overtime.
But Conveyance allw.should not be considered.
For ESI revised limit Rs.15,000/-maximum once exceeded they will not be eligible.
The employee will be recoverd @ 1.75% of gross salary/wage and employer contribute @ 4.75% on employee's gross.
Any minimum wages, no minimum limit, also attract to ESI deduction.
From India, Bangalore
Dear Lakshika,
I'm sorry I think I didn't attach the text portion which will explain little more about ESI. However I sent it to yr.mail. If U have any more doubt don't hesitate. All the best.
Rgds,
Kumar
Bg.
From India, Bangalore
I'm sorry I think I didn't attach the text portion which will explain little more about ESI. However I sent it to yr.mail. If U have any more doubt don't hesitate. All the best.
Rgds,
Kumar
Bg.
From India, Bangalore
ESI is the benefit, which is applicable to an employee, who has the CTC upto 1.8 Lacs annual (15 K per month) This benefit need to deposit in ESIC department.
Employee Contribution: 1.75% Gross
Employer Contribution: 4.75% of Gross
From India, Gurgaon
Employee Contribution: 1.75% Gross
Employer Contribution: 4.75% of Gross
From India, Gurgaon
Dear Lakshika,
PF is calculated on Basic + DA.
ESI is calculated on Basic+ DA+ HRA+Conveyance+ Performance allowance+ General allowance+bonus +fixed Traveling allowance+ fixed Incentives= Gross
Note: For ESI Calculation Washing Allowance+ Hill allowance will not be taken for calculation.
If you have any doubts means let us know.
From India, Madras
PF is calculated on Basic + DA.
ESI is calculated on Basic+ DA+ HRA+Conveyance+ Performance allowance+ General allowance+bonus +fixed Traveling allowance+ fixed Incentives= Gross
Note: For ESI Calculation Washing Allowance+ Hill allowance will not be taken for calculation.
If you have any doubts means let us know.
From India, Madras
Comeon yaar, what next ? What is salary?
OK.
Basic pay = A remuneration offered to an employee depending on nature/qualification/exp./responsibilities etc attached to a job. DA= Dearness Allw. Meaning an allowance to meet increase in prices of your day to day needs, an allw. to partially help U to buy things which have become dearer to you. In Govt. & Indl.sector this will vary depending on the movement of whole sale/consumer price indices, periodically announced by the Govt.
HRA= House Rent Allw, meaning an allw. meant to meet an employees housing exp.
Normally these allw. are expressed in terms of % on basic pay, saying DA @ 50%, HRA @ 20% on basic etc.
CCA = City compensatory allw. this is provided mostly by govt. sector @ 10 or 20% on basic pay.This not necessarily fixed as such. An employer can fix total remuneration as package all put together without splitting into basic pay, DA, HRA etc.
These terms are generally in vogue in govt.sector & corporate/big co. but not so much in small firms in private sector where they offer CTC (means cost to co.)which normally include meant to compensate other benefits like PF,Bonus, incentives, LTA, medical, conveyance, equivalent of food coupons etc. However,this is not uniform in all employers.
Right ?
TKS
Kumar
Bg.
From India, Bangalore
OK.
Basic pay = A remuneration offered to an employee depending on nature/qualification/exp./responsibilities etc attached to a job. DA= Dearness Allw. Meaning an allowance to meet increase in prices of your day to day needs, an allw. to partially help U to buy things which have become dearer to you. In Govt. & Indl.sector this will vary depending on the movement of whole sale/consumer price indices, periodically announced by the Govt.
HRA= House Rent Allw, meaning an allw. meant to meet an employees housing exp.
Normally these allw. are expressed in terms of % on basic pay, saying DA @ 50%, HRA @ 20% on basic etc.
CCA = City compensatory allw. this is provided mostly by govt. sector @ 10 or 20% on basic pay.This not necessarily fixed as such. An employer can fix total remuneration as package all put together without splitting into basic pay, DA, HRA etc.
These terms are generally in vogue in govt.sector & corporate/big co. but not so much in small firms in private sector where they offer CTC (means cost to co.)which normally include meant to compensate other benefits like PF,Bonus, incentives, LTA, medical, conveyance, equivalent of food coupons etc. However,this is not uniform in all employers.
Right ?
TKS
Kumar
Bg.
From India, Bangalore
Dear Sir, We are a civil contractor co. with the turnover of 130cr. we do provide bonus apart from CTC & providing CCA . shall we provide??
From India, Gurgaon
From India, Gurgaon
company is new and only 4 people are working if 1 person salary is 30000 want to know salary breakup and pf is not deducted, what all allowances should we add.
From India, Mumbai
From India, Mumbai
Dear Abhiyog,
Salary breakup would be
Basic - 12000 (40%)
HRA - 6000 (50% of basic)
CCA - 3600 (35% of basic)
Conveyance - 3000 (25%of basic)
Medical - 1800 (15% of basic)
Special Allowances- 3600
The % & heads for bifurcation can be changed
From India, Gurgaon
Salary breakup would be
Basic - 12000 (40%)
HRA - 6000 (50% of basic)
CCA - 3600 (35% of basic)
Conveyance - 3000 (25%of basic)
Medical - 1800 (15% of basic)
Special Allowances- 3600
The % & heads for bifurcation can be changed
From India, Gurgaon
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