Hi Jayshri, As far as i know ESIC contribution of Employee is 1.75% & Employer’s contribution is 4.75%. Regards,
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3From India
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Hi All This is Devendra I Want to know that for caluclation of salary how many days shall be counted per month i.e 26, 27, or 30 and 31. Dev
From India, Surat
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From India, Surat
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(Fact Check Failed/Partial)-The user's reply is incomplete. The number of days to be counted for salary calculation is typically 30 or 31, based on the company's policy or the labor laws.
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Hi,
Everybody.I am a HR Executive in a private concern. I would like to learn the entire Payroll process that has been handled in a corporate and would like to know about PF,ESI...Kindly send me the related information so that it would clear all my quries...
Thanks & Regards
Deepa.K
From India, Madras
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Everybody.I am a HR Executive in a private concern. I would like to learn the entire Payroll process that has been handled in a corporate and would like to know about PF,ESI...Kindly send me the related information so that it would clear all my quries...
Thanks & Regards
Deepa.K
From India, Madras
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(Fact Check Failed/Partial)-The user's reply contains an incorrect spelling of "queries." The correct spelling is "queries." Additionally, it is advisable to provide more specific details regarding PF and ESI processes. Thank you for your input!
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Hi Jeyell,
If i am right,
PF Employee Contribution Calculation - 12% on Basic + DA
PF Employer contribution also 12% on Basic + DA
Among that 12%(Employer Contribution), 8.33% goes to PF Scheme and remaining 3.67 goes to Pension Scheme.
Thanks and Regards,
Jai
From India, Madras
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If i am right,
PF Employee Contribution Calculation - 12% on Basic + DA
PF Employer contribution also 12% on Basic + DA
Among that 12%(Employer Contribution), 8.33% goes to PF Scheme and remaining 3.67 goes to Pension Scheme.
Thanks and Regards,
Jai
From India, Madras
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(Fact Check Failed/Partial)-The information provided is partially correct. However, the Employee Provident Fund (EPF) contribution is based on the employee's Basic wages + Dearness Allowance, but the employer's contribution is divided as follows: 3.67% to the Employee Pension Scheme (EPS) and the remainder to the EPF account. This distinction is important for accurate payroll calculations. Thank you for your input.
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Hi Friends,
If I am right,
PF:
Employee Contribution 12% on Basic+DA
Employer Contribution 12% on Basic+DA(Among this 12%, 8.33% will go to PF Scheme and remaining 3.67% will go to Pension Scheme)
ESI
Employee Contribution 1.75% on Gross Salary
Employer Contribution 4.25% on Gross Salary.
If i committed the mistake anywhere just let me know.
Thanks and Regards
Jai
From India, Madras
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If I am right,
PF:
Employee Contribution 12% on Basic+DA
Employer Contribution 12% on Basic+DA(Among this 12%, 8.33% will go to PF Scheme and remaining 3.67% will go to Pension Scheme)
ESI
Employee Contribution 1.75% on Gross Salary
Employer Contribution 4.25% on Gross Salary.
If i committed the mistake anywhere just let me know.
Thanks and Regards
Jai
From India, Madras
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(Fact Check Failed/Partial)-The information provided is mostly correct, but the employer contribution to ESI is outdated. The current employer contribution rate for ESI is 3.25% instead of 4.25%. Thank you for sharing your insights.
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HI,
please find the breakup of PF for employee and employer side. The employer amount goes into five accounts , account No 1,2,10,21,22.
PF Challan --------
Following challans duly filled in should be submitted -
P.F. Cont. (Employee's+Employer's Share) A/c No. - 01 - 12% + 3.67%
Pension Fund Contribution A/c No. - 10 - 8.33%
Administrative Charges A/c No. - 02 - 1.10%
E. D. L. I. F. A/c No. - 21 - 0.50%
Administrative Charges A/c No. -22 - 0.01%
I believe it will be usefull for you. :)
Thanks,
Shuchi
From India, Gurgaon
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please find the breakup of PF for employee and employer side. The employer amount goes into five accounts , account No 1,2,10,21,22.
PF Challan --------
Following challans duly filled in should be submitted -
P.F. Cont. (Employee's+Employer's Share) A/c No. - 01 - 12% + 3.67%
Pension Fund Contribution A/c No. - 10 - 8.33%
Administrative Charges A/c No. - 02 - 1.10%
E. D. L. I. F. A/c No. - 21 - 0.50%
Administrative Charges A/c No. -22 - 0.01%
I believe it will be usefull for you. :)
Thanks,
Shuchi
From India, Gurgaon
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(Fact Check Failed/Partial)-The information provided regarding the breakup of PF for employee and employer side is inaccurate. PF contributions are calculated differently. Please refer to the latest PF rules for accurate details. Thank you for your input.
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Hello sir, I am searching for the job in HR.I have completed M.P.M in 07 and having 1 yr exp. in Consultancy. please Guide me. Nidhi Saxena
From India, Pune
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From India, Pune
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(Fact Checked)-The information provided about processing payroll and calculating leave without pay is accurate based on standard HR practices and norms. (1 Acknowledge point)
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Hi all,
Employee ESI contribution = 1.75% on ESI earning gross
Employer ESI contribution = 4.75% on ESI earning gross
Note: Washing allowance is exempted from ESI earning.
And the cutoff limit for ESI is Rs.10,000/- PM, if an employee's gross is above the mentioned cutoff after the First half or before, then he will not be covered under ESI act. But in between 1st and 2nd half ESI gross will cross the cutoff limit then he has to contribute till 1st or 2ns half will not over.
1st half: Apr to Sep
and 2nd half means : Oct to Mar
And also if employee is drawing average daily wages less than 70 Rs. per day then, employee need not to pay ESI, only employer will be paying 4.75% on ESI earned gross.
Employee PF contribution = 12% on BASIC+DA
Employer PF contribution = 12% on BASIC+DA
PF Cutoff limit is Rs.6500/- , over and above which no need to pay PF, i.e. maximum contribution is Rs.780/- (12% of 6500)
Actually all the employees must be covered under PF even though their Basic+DA is above 6500. However, there is an exception for this, an employee with the prior consent of the employer can exempt himself from PF contribution.
plz do let me know if u have any more doubts or if u dont understand something
warm regards
Hansraj Pawar
From India, Bangalore
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Employee ESI contribution = 1.75% on ESI earning gross
Employer ESI contribution = 4.75% on ESI earning gross
Note: Washing allowance is exempted from ESI earning.
And the cutoff limit for ESI is Rs.10,000/- PM, if an employee's gross is above the mentioned cutoff after the First half or before, then he will not be covered under ESI act. But in between 1st and 2nd half ESI gross will cross the cutoff limit then he has to contribute till 1st or 2ns half will not over.
1st half: Apr to Sep
and 2nd half means : Oct to Mar
And also if employee is drawing average daily wages less than 70 Rs. per day then, employee need not to pay ESI, only employer will be paying 4.75% on ESI earned gross.
Employee PF contribution = 12% on BASIC+DA
Employer PF contribution = 12% on BASIC+DA
PF Cutoff limit is Rs.6500/- , over and above which no need to pay PF, i.e. maximum contribution is Rs.780/- (12% of 6500)
Actually all the employees must be covered under PF even though their Basic+DA is above 6500. However, there is an exception for this, an employee with the prior consent of the employer can exempt himself from PF contribution.
plz do let me know if u have any more doubts or if u dont understand something
warm regards
Hansraj Pawar
From India, Bangalore
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(Fact Checked)-The user's reply contains accurate information regarding the contributions for ESI and PF, including the cutoff limits and exemptions. The details provided align with the current laws and regulations. (1 Acknowledge point)
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Hi all, There are many payroll vendor who provide the software/solution to process our payroll... why to worry!!!, they will provide the solution. We can make use of them.
From India, Bangalore
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From India, Bangalore
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(Fact Check Failed/Partial)-The user's reply is partially correct. It is true that there are payroll vendors who provide software solutions, but it's not mandatory. Payroll can be done manually as well, depending on the company's size and needs.
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Dear jayshri, Little correction in ur post employer’s contribution towards ESIC is 4.75 % and employee contribution is 1.75%. Regards Jai
From India, Pune
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From India, Pune
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(Fact Checked)-[The employee contribution towards ESIC is 1.75%, and the employer's contribution is 4.75%.] (1 Acknowledge point)
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(Fact Check Failed/Partial)-The user reply is incorrect. The current ESIC contribution for employees is 0.75% and for employers is 3.25%.