Hi all,
on behalf of my company iam promoting this query ...
How to apply and what are the formalities should a company do for the following:
1. Labor License Certificate
2. VAT & Sales Tax Registrations for supporting Hardware requirements.
3. Import Export License Registration
Plz Plz Plz let me know ASAP.....Very URGENT for me to know Plz.........
Thanks & Regards,
Uma.......
From India, Hyderabad
on behalf of my company iam promoting this query ...
How to apply and what are the formalities should a company do for the following:
1. Labor License Certificate
2. VAT & Sales Tax Registrations for supporting Hardware requirements.
3. Import Export License Registration
Plz Plz Plz let me know ASAP.....Very URGENT for me to know Plz.........
Thanks & Regards,
Uma.......
From India, Hyderabad
Hi Manjula,
I do agree with Ganesh about the 'Apprentice ITI institutes'.
Also PF will not be applicable incase Basic wage goes above Rs. 6, 500/- Also if their Gross salary is raised to above 15, 000/pm PF and ESIC is not applicable. However, not so sure if your existing salary matrix can adjust with any off shot hike for such recruits.
Anways wish you all the best!
From India, Madras
1I do agree with Ganesh about the 'Apprentice ITI institutes'.
Also PF will not be applicable incase Basic wage goes above Rs. 6, 500/- Also if their Gross salary is raised to above 15, 000/pm PF and ESIC is not applicable. However, not so sure if your existing salary matrix can adjust with any off shot hike for such recruits.
Anways wish you all the best!
From India, Madras
Hi Pratixa,
PF is deducted on Basic salary i.e Basic + DA is Rs. 6500/- or less above that PF is not deducted.
1) Employee – 12 % (of Basic + DA & Food concession allowance & retaining allowance, if any)
2) Employer – 13.61 % (of Basic + DA & Food concession allowance & retaining allowance, if any)
[ 13.61 % = 3.67 % PF + 8.33 % Pension Scheme + 1.10 % Admin. Charges of PF + 0.5 % EDLI + 0.01 % Admin Charges of EDLI ]
EDLI - Employee deposit link insurance
EPF:
Here this PF is normally deducted from the basic & DA ( dearness allowance )
Such that Basic salary - 35%
DA - 15% outof gross salary.
For (e.g) - If the gross salary of a person is Rs.9000/-p.m
Basic- 35% @ 9000 - 3150
DA - 15% @ 9000 - 1350
Total -------
4500
--------
Such that the total amount would be deducted @ 12% (i.e) PF - 540/-
The maximum ceiling limit of PF - Rs.6500/-
If the basic + DA exceeds 6500/- than the contributions is optional. Some company may have their own company policies.
Provident fund is calculated towards the employers is 13.61%
1. Employers Contribution
2.EPF A/c No.1 - 3.67%
3.EPF - Admn Charges - 1.1%
4.Pension Fund A/c No.10 - 8.33%
5.EDLI A/c No.21 - 0.5%
6.EDLI - Admn Charges - 0.01%
ESIC calculation:
-------------------
In this ESIC, it includes the medical benefit both for the employee and employer.
It has been calculated on the basic of gross pay per month and maximum limit is upto Rs.10000/- p.m
Employee side - 1.75% and Employer side - 4.75%.
So if the gross of an employee is 8000/- p.m his contribution would be 8000*1.75% = 140/-
Employer 8000*4.75% = 380/-
Therefore Net pay = Gross pay - Total deductions
1. Those who are getting 10000/- gross per month will not be applicable under ESIC act.
2. 20 eligible employees to get registered in ESIC
3. Eligible employees means those who are getting gross pay upto 10000/- or less per month.
Apart from that there is a tax deduction., it includes the Income & professional tax.
CTC means cost to the company.i.e .what are all the expenses incurred by the Company for any of its employee for a particular period(monthly/yearly)
gross pay + employers pf+employers ESI + bonus = CTC
i.e THE SALARY PAYABLE AND OTHER STATUTORY BENIFTS PAYABLE BY COMPANY.
I think this calculation will be helpfull to you.....
Regards,
uma.....
From India, Hyderabad
PF is deducted on Basic salary i.e Basic + DA is Rs. 6500/- or less above that PF is not deducted.
1) Employee – 12 % (of Basic + DA & Food concession allowance & retaining allowance, if any)
2) Employer – 13.61 % (of Basic + DA & Food concession allowance & retaining allowance, if any)
[ 13.61 % = 3.67 % PF + 8.33 % Pension Scheme + 1.10 % Admin. Charges of PF + 0.5 % EDLI + 0.01 % Admin Charges of EDLI ]
EDLI - Employee deposit link insurance
EPF:
Here this PF is normally deducted from the basic & DA ( dearness allowance )
Such that Basic salary - 35%
DA - 15% outof gross salary.
For (e.g) - If the gross salary of a person is Rs.9000/-p.m
Basic- 35% @ 9000 - 3150
DA - 15% @ 9000 - 1350
Total -------
4500
--------
Such that the total amount would be deducted @ 12% (i.e) PF - 540/-
The maximum ceiling limit of PF - Rs.6500/-
If the basic + DA exceeds 6500/- than the contributions is optional. Some company may have their own company policies.
Provident fund is calculated towards the employers is 13.61%
1. Employers Contribution
2.EPF A/c No.1 - 3.67%
3.EPF - Admn Charges - 1.1%
4.Pension Fund A/c No.10 - 8.33%
5.EDLI A/c No.21 - 0.5%
6.EDLI - Admn Charges - 0.01%
ESIC calculation:
-------------------
In this ESIC, it includes the medical benefit both for the employee and employer.
It has been calculated on the basic of gross pay per month and maximum limit is upto Rs.10000/- p.m
Employee side - 1.75% and Employer side - 4.75%.
So if the gross of an employee is 8000/- p.m his contribution would be 8000*1.75% = 140/-
Employer 8000*4.75% = 380/-
Therefore Net pay = Gross pay - Total deductions
1. Those who are getting 10000/- gross per month will not be applicable under ESIC act.
2. 20 eligible employees to get registered in ESIC
3. Eligible employees means those who are getting gross pay upto 10000/- or less per month.
Apart from that there is a tax deduction., it includes the Income & professional tax.
CTC means cost to the company.i.e .what are all the expenses incurred by the Company for any of its employee for a particular period(monthly/yearly)
gross pay + employers pf+employers ESI + bonus = CTC
i.e THE SALARY PAYABLE AND OTHER STATUTORY BENIFTS PAYABLE BY COMPANY.
I think this calculation will be helpfull to you.....
Regards,
uma.....
From India, Hyderabad
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PF & ESI.zip
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