hi friends please give some more information about ESI and PF also if an employee is getting 6500/- salary what amount he will be able to take home after contributing to ESI and PF. friends send me the answer with calculation
From India, Bangalore
1From India, Bangalore
Hi. It is quite justified article :- under the rule about EPF / EPS. You may go through with this article without any hesitation. Regard’s, Phaiboon
From India, Jaipur
From India, Jaipur
Hi, Please direct or guide me in detail with rules; how to RETRENCH a group of workers & Staffs after finishing construction of Project work. Regard’s PHAIBOON
From India, Jaipur
From India, Jaipur
Dear Shri Abhi-rumana, I stand corrected. The employees drawing pay more than 6500 have an option to be out of PF. Such employees are called exempted employees. Shyam Agrawal
From India, Pune
From India, Pune
I am giving astracts of mr.p.c.a in this regards, go through the contents, the answer is always available on citehr you people do not effort for answer, please do some exercises.
Workmen's Compensation (Amendment) Bill 2009
Dear friends,
Yesterday Parliament has passed Workmen's Compensation (Amendment) Bill 2009 which mainly provides for the following:
a) Change of name of the Act to Employees Compensation Act 1923
b) Enhancement in minimum compensation payable from Rs.80,000 to Rs.1,20,000 (in case of death) and from Rs.90,000 to Rs.1,40,000 (in case of permanent disability) and funeral expenses from Rs.2,500 to Rs.5,000.
c) Reimbursement of actual medical expenses incurred during treatment of injury caused during course of employment.
d) Increase in coverage by omission of restrictive clause in Schedule-II and inclusion of additional hazardous activities
e) Disposal of cases of compensation by Commissioner within 3 months
f) Empower Central Govt. to specify monthly wages for the purpose of compensation and enhance minimum rates of compensation from time to time.
Copy of the Bill is attached for your ready reference. It will become Act after getting the assent of the President and will come into force on such date as may be specified in the notification to be issued by the Govt.
From India, New Delhi
Workmen's Compensation (Amendment) Bill 2009
Dear friends,
Yesterday Parliament has passed Workmen's Compensation (Amendment) Bill 2009 which mainly provides for the following:
a) Change of name of the Act to Employees Compensation Act 1923
b) Enhancement in minimum compensation payable from Rs.80,000 to Rs.1,20,000 (in case of death) and from Rs.90,000 to Rs.1,40,000 (in case of permanent disability) and funeral expenses from Rs.2,500 to Rs.5,000.
c) Reimbursement of actual medical expenses incurred during treatment of injury caused during course of employment.
d) Increase in coverage by omission of restrictive clause in Schedule-II and inclusion of additional hazardous activities
e) Disposal of cases of compensation by Commissioner within 3 months
f) Empower Central Govt. to specify monthly wages for the purpose of compensation and enhance minimum rates of compensation from time to time.
Copy of the Bill is attached for your ready reference. It will become Act after getting the assent of the President and will come into force on such date as may be specified in the notification to be issued by the Govt.
From India, New Delhi
Dear Shri Ramkrishna Singhji, Shri Alex Anthony & others,
At the outset, I correct myself. The PF is not compulsory to all. An employee drawing salary more than Rs.6500 may opt out of the PF if he so desires. Such employee is called exempted employee. In one's own interest, one should not opt out of the PF. However, we are now discussing legal provisions. So, one thing is now clear. PF is compulsory for employees drawing salary up to Rs.6500 per month and optional for those drawing more than Rs.6501. Shri R. B. Narwade of Pune has further clarified that once an employee opts for PF, he cannot opt out afterwards. Those interested, may please see the posting of Shri R B Narwade in this discussion.
I appreciate the posting of Shri Alex Anthony of Chennai. He has summed the subject very nicely. Thanks Mr Alex Anthony.
The assertion of Shri Ramkrishna Singhji is perfectly all right. The employees do not contribute to the EPS or the EDLI schemes. Their entire constribution goes to PF account only.
Thanks to all.
Shyam Agrawal of Pune
From India, Pune
At the outset, I correct myself. The PF is not compulsory to all. An employee drawing salary more than Rs.6500 may opt out of the PF if he so desires. Such employee is called exempted employee. In one's own interest, one should not opt out of the PF. However, we are now discussing legal provisions. So, one thing is now clear. PF is compulsory for employees drawing salary up to Rs.6500 per month and optional for those drawing more than Rs.6501. Shri R. B. Narwade of Pune has further clarified that once an employee opts for PF, he cannot opt out afterwards. Those interested, may please see the posting of Shri R B Narwade in this discussion.
I appreciate the posting of Shri Alex Anthony of Chennai. He has summed the subject very nicely. Thanks Mr Alex Anthony.
The assertion of Shri Ramkrishna Singhji is perfectly all right. The employees do not contribute to the EPS or the EDLI schemes. Their entire constribution goes to PF account only.
Thanks to all.
Shyam Agrawal of Pune
From India, Pune
There are five kind of accounts for social securities
Rates are on basic allowance plus dearness allowances (BA+DA) of particular wages month
1) AC 1 (PF)
Employee share 12 %
Employer share 3.67 %
2) AC 2 10 (Pension)
Employee share 0.0 %
Employer share 8.33 %
3) AC 2 (Administration Charges)
Employee share 0.0 %
Employer share 1.1 %
4) AC 21 (EDLI -Employees Deposit Link Insurance)
Employee share 00 %
Employer share 0.5 %
5) AC 22 (EDLI Administration charges)
Employee share 00 %
Employer share 0.01 %
The above rates are for wages less than equals to 6500
common for all salary, which is above 6500.
Employee share 12 %
Employer share
6500 * 3.67 % i.e. 239
6500 * 8.33% i.e. 541
We will discuss About the forms tomorrow
From India, Jaipur
Rates are on basic allowance plus dearness allowances (BA+DA) of particular wages month
1) AC 1 (PF)
Employee share 12 %
Employer share 3.67 %
2) AC 2 10 (Pension)
Employee share 0.0 %
Employer share 8.33 %
3) AC 2 (Administration Charges)
Employee share 0.0 %
Employer share 1.1 %
4) AC 21 (EDLI -Employees Deposit Link Insurance)
Employee share 00 %
Employer share 0.5 %
5) AC 22 (EDLI Administration charges)
Employee share 00 %
Employer share 0.01 %
The above rates are for wages less than equals to 6500
common for all salary, which is above 6500.
Employee share 12 %
Employer share
6500 * 3.67 % i.e. 239
6500 * 8.33% i.e. 541
We will discuss About the forms tomorrow
From India, Jaipur
hi friends i do no whether this is right or wrong but i had a doubt on this in some companies instead of contributing to EDLI they are following the group insurance schemes of LIC will anyone send me information on that
From India, Bangalore
From India, Bangalore
It's not the employees compensation act, its an workmen compensation act. Yes it is applicable to all the company workem as well employees who are not covered under ESI for wt ever the reason, either due to wages over and above Rs.10000/- or due to applicability of ESI act to region.
Regards / Pavan
From Australia
Regards / Pavan
From Australia
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