It has to be deduct ESIC because OT is variable component and for ESIC deduction OT will not consider. So you have to deduct ESIC on 20K.
From India, Mumbai
4From India, Mumbai
Dear All, Apart from Fix component of salary, every amount which paying as extract under any component shall attract ESIC. only statutory bonus shall not applicable for ESIC. Regards, Tushar Swar
From India, Mumbai
From India, Mumbai
Hi Rakesh,
First of all I would like to inform you that all emoluments which are paying on monthly basis, will be considered for ESIC contribution upto Rs. 15000/-.
In case of bonus all types of bonus apart from statutory bonus will be consider for esic contribution if company is paying bonus on monthly basis.
Regards
Sunil Sharma
From India, New Delhi
First of all I would like to inform you that all emoluments which are paying on monthly basis, will be considered for ESIC contribution upto Rs. 15000/-.
In case of bonus all types of bonus apart from statutory bonus will be consider for esic contribution if company is paying bonus on monthly basis.
Regards
Sunil Sharma
From India, New Delhi
Here I am sharing a blog regarding a income tax perspective of employee rewards and recognition (including bonuses) in India.
A Taxation Perspective of Employee Rewards and Supporting Payroll Softwares
Regards,
Arti
From India, Faridabad
A Taxation Perspective of Employee Rewards and Supporting Payroll Softwares
Regards,
Arti
From India, Faridabad
Sir have monthly fixed salary or rupees 13700 but apart of that I have receiving 25-30 thousand rupees as sales incentive..sir my question is that should I am eligible to be member of esi or not
From India, Kumbh
From India, Kumbh
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BONUS TO BE PAID BY CHEQUE 7-10-2010 Forwarded message.doc
Amendment to Payment of Bonus Act 2015.jpg