Hi
Provident Fund:- Calculated on basic sal. which is 12% from employee and 12% of employer, and it is part of your CTC.
There are conditions for Provident fund:
1) 12% of basic contributed by employee
12% of basic contributed by employer
2) If Basic > 6500, there is a catch of 6500
12% of basic contributed by employee, but
12% of 6500 contributed by employer
3) If Basic > 6500, both
12% of 6500 contributed by employee
12% of 6500 contributed by employer
4) If Basic < 6500, then there is a catch of 5500
12% of 5500 contributed by employee
12% of 5500 contributed by employer
Note: any one condition could be followed in a organization, and employee could contribute voluntary i.e more than 12%
ESI
The ceiling coverage in ESI is gross salary<=15000, then eligible for esi benefits.
The contribution of ESI
Employee contribution is 1.75% of gross
Employer share is 4.75% of gross
Thnaks..
From India, Delhi
5Provident Fund:- Calculated on basic sal. which is 12% from employee and 12% of employer, and it is part of your CTC.
There are conditions for Provident fund:
1) 12% of basic contributed by employee
12% of basic contributed by employer
2) If Basic > 6500, there is a catch of 6500
12% of basic contributed by employee, but
12% of 6500 contributed by employer
3) If Basic > 6500, both
12% of 6500 contributed by employee
12% of 6500 contributed by employer
4) If Basic < 6500, then there is a catch of 5500
12% of 5500 contributed by employee
12% of 5500 contributed by employer
Note: any one condition could be followed in a organization, and employee could contribute voluntary i.e more than 12%
ESI
The ceiling coverage in ESI is gross salary<=15000, then eligible for esi benefits.
The contribution of ESI
Employee contribution is 1.75% of gross
Employer share is 4.75% of gross
Thnaks..
From India, Delhi
Dear PF is calculated on both Basic +DA and not HRA. HRA is calculated on basic +DA. The employees whose basic salary is less than 6500 Rs does not get the facility of PF. Regards Pooja Khanna
From United Kingdom, Leeds
From United Kingdom, Leeds
My office deduct 10% from Basic+DA and also contribute 10% by office, we are 12 employees, how we move to Contribution rate 12%, is it possible? any rule regarding this. Pl. reply/help.
From India, Kolkata
From India, Kolkata
Hi, Is it mandatory to show ESI deduction in the appointment / offer letter of a new joiner. Regards, Pramila
From India, Chennai
From India, Chennai
Hi, I want to know whether is it necessary to have a DA component in Salary structure especially for shipping company?
From India
From India
if employee not cover in esi after increment then employer part of esic will be add in his ctc ?
From India, Pune
From India, Pune
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