can anyone plz tell me how what is the % of contribution of pf by the employer and employee and what are the edli and admin charges..??
and only of basic and da pf is charged..
also plz tel me the calculation of esic and on what % esic are charged
thanks and regards,
sugandh
09470354113
From India, Jamshedpur
and only of basic and da pf is charged..
also plz tel me the calculation of esic and on what % esic are charged
thanks and regards,
sugandh
09470354113
From India, Jamshedpur
Rates of Contribution:
a) The Employees' Provident Fund Scheme
In respect of establishments employing 20 or more persons and engaged in industry notified under Section 6 of Act ( other than the Establishments. declared as sick ) 12% of the basic pay ,DA , Cash value of food concession and retaining allowance , if any, subject to a maximum of Rs.6500/- per month. Voluntary higher contributions are also acceptable at the joint request of the member and the employer .
b) The Employees' Pension Scheme
From and out of employer's share of Provident Fund contributions 8.33% of the total wages limited to Rs. 6500/- per month is segregated and credited to the Employees' Pension Fund in A/C No. 10 ( w.e.f. 1-06-2001 ).
The Central Government also would contribute at the rate of 1.1 / 6% of total wages.
c) Employees' Deposit Linked Insurance Scheme:
No amount is recovered from employee's wages . Employer should pay 0.5% of total wages subject to a ceiling of Rs. 6500/- per month ( w.e.f. 1-06-2001 ).
d) What is the voluntary rate of Provident Fund contribution by the member?
As per the Act, the member has to contribute at the rate of 12% of his basic pay, D.A. & retaining allowance if any. In case the member wants to contribute more than this, voluntarily he can do so at any rate he desires. i.e. upto 100% of basic and D.A. But the employer is not bound to contribute at the enhanced rate.
Like most of the social security schemes, the world over, ESI scheme is a self-financing health
insurance scheme. Contributions are raised from covered employees and their employers as a fixed
percentage of wages. As of now, covered employees contribute 1.75% of the wages, whereas as the
employers contribute 4.75% of the wages, payable to the insured persons. Employers earning less
than Rs 40 a day as daily wage are exempted from payment of their share of contribution. The state
government as per the provision of the act contributes 1/8 of the expenditure on medical benefit
within a per capita ceiling of Rs.600 per insured person per annum. Any additional expenditure
incurred by the state government, over and above the ceiling, and not falling within the shareable
pool, is borne by the state governments concerned.
The contribution is deposited by the employer in cash or by cheaque at the designated branches of some nationalised banks. The responsibility for
payment of all contributions is that if the employer with a right to deduct the employees share of
contribution from employees wages relating to the period in respect of which the contribution is
payable.
From India, Mumbai
8a) The Employees' Provident Fund Scheme
In respect of establishments employing 20 or more persons and engaged in industry notified under Section 6 of Act ( other than the Establishments. declared as sick ) 12% of the basic pay ,DA , Cash value of food concession and retaining allowance , if any, subject to a maximum of Rs.6500/- per month. Voluntary higher contributions are also acceptable at the joint request of the member and the employer .
b) The Employees' Pension Scheme
From and out of employer's share of Provident Fund contributions 8.33% of the total wages limited to Rs. 6500/- per month is segregated and credited to the Employees' Pension Fund in A/C No. 10 ( w.e.f. 1-06-2001 ).
The Central Government also would contribute at the rate of 1.1 / 6% of total wages.
c) Employees' Deposit Linked Insurance Scheme:
No amount is recovered from employee's wages . Employer should pay 0.5% of total wages subject to a ceiling of Rs. 6500/- per month ( w.e.f. 1-06-2001 ).
d) What is the voluntary rate of Provident Fund contribution by the member?
As per the Act, the member has to contribute at the rate of 12% of his basic pay, D.A. & retaining allowance if any. In case the member wants to contribute more than this, voluntarily he can do so at any rate he desires. i.e. upto 100% of basic and D.A. But the employer is not bound to contribute at the enhanced rate.
Like most of the social security schemes, the world over, ESI scheme is a self-financing health
insurance scheme. Contributions are raised from covered employees and their employers as a fixed
percentage of wages. As of now, covered employees contribute 1.75% of the wages, whereas as the
employers contribute 4.75% of the wages, payable to the insured persons. Employers earning less
than Rs 40 a day as daily wage are exempted from payment of their share of contribution. The state
government as per the provision of the act contributes 1/8 of the expenditure on medical benefit
within a per capita ceiling of Rs.600 per insured person per annum. Any additional expenditure
incurred by the state government, over and above the ceiling, and not falling within the shareable
pool, is borne by the state governments concerned.
The contribution is deposited by the employer in cash or by cheaque at the designated branches of some nationalised banks. The responsibility for
payment of all contributions is that if the employer with a right to deduct the employees share of
contribution from employees wages relating to the period in respect of which the contribution is
payable.
From India, Mumbai
for pf:
Employer = 12% on basic+da, Employee = 12% on basic+da, EDLI = 0.5%
admin charges: 1.10% towards provident fund and for EDLI =0.01%
for ESI:
Employer = 4.75% and Employee = 1.75%
with regards,
madhusvarma
From India, Hyderabad
Employer = 12% on basic+da, Employee = 12% on basic+da, EDLI = 0.5%
admin charges: 1.10% towards provident fund and for EDLI =0.01%
for ESI:
Employer = 4.75% and Employee = 1.75%
with regards,
madhusvarma
From India, Hyderabad
Provident Fund
The person drawing wage up to 6500 Per month is eligible for PF
The PF is calculated on the basis of basic+D.A(dearness allowance)
Here you have to note one thing
6500 is eligible only for normal people
upto 25000 for Physically challenged
Employees contribution:12%
Employer contribution:13.61%
3 Accounts are there in the calculation of PF
1.EPF-The Employees' Provident Fund Scheme
2.EPS-The Employees' Pension Scheme
3.EDLI-Employees' Deposit Linked Insurance Scheme
For the calculation of EPF-12% of Employee contribution is added and 3.67% added from employer's contribution
For the calculation of EPS- 8.33% will go for Pension from Employer contribution and
For EDLI-1.61% from Employer contribution
1.1% Admin charges For EPS and EPF
0.5% EDLI Premium
0.01% Admin charges for EDLI
ESI: Employee state insurance :
Employer contribution:4.75%
Employee contribution:1.75%
For More details visit Website :
http://www.epfindia.com
ESIC Home Page
From India, Coimbatore
The person drawing wage up to 6500 Per month is eligible for PF
The PF is calculated on the basis of basic+D.A(dearness allowance)
Here you have to note one thing
6500 is eligible only for normal people
upto 25000 for Physically challenged
Employees contribution:12%
Employer contribution:13.61%
3 Accounts are there in the calculation of PF
1.EPF-The Employees' Provident Fund Scheme
2.EPS-The Employees' Pension Scheme
3.EDLI-Employees' Deposit Linked Insurance Scheme
For the calculation of EPF-12% of Employee contribution is added and 3.67% added from employer's contribution
For the calculation of EPS- 8.33% will go for Pension from Employer contribution and
For EDLI-1.61% from Employer contribution
1.1% Admin charges For EPS and EPF
0.5% EDLI Premium
0.01% Admin charges for EDLI
ESI: Employee state insurance :
Employer contribution:4.75%
Employee contribution:1.75%
For More details visit Website :
http://www.epfindia.com
ESIC Home Page
From India, Coimbatore
HAI ,
PF EMPLOYEE CONTRIBUTION IS 12 % FROM BASIC SALARY
PF EMPLOYER CONTRIBUTION IS 13.36 % FROM BASIC SALARY . OUT OF THIS 13.36 % SPLITATION IS AS FOLLOWS
EPF - 3.67 % OF BASIC SALARY , EPS - 8.33 % OF BASIC SALARY, ADMIN CHARGE-0.85 % OF BASIC SALARY , EDLI ADMIN CHARGE = 0.01 % OF BASIC SALARY , EDLI ( EMPLOYEE DEPOSIT LINKED INSURANCE ) = 0.5 % OF BASIC SALARY .
MAXIMUM EPF CONTRIBUTION FROM EMPLOYEE SIDE IS 1800 /- ( 15000 * 12 /100 = 1800 /-)
ESI EMPLOYEE CONTRIBUTION 1.75 % OF GROSS SALARY
ESI EMPLOYER CONTRIBUTION 4.75 % OF GROSS SALARY , ESI IS ELIGIBLE IF GROSS SALARY IS ON 15K OR BELOW 15K
I HOPE THAT INFORMATION FROM SIDE IS USEFUL LITTLE BIT
From India, Chennai
PF EMPLOYEE CONTRIBUTION IS 12 % FROM BASIC SALARY
PF EMPLOYER CONTRIBUTION IS 13.36 % FROM BASIC SALARY . OUT OF THIS 13.36 % SPLITATION IS AS FOLLOWS
EPF - 3.67 % OF BASIC SALARY , EPS - 8.33 % OF BASIC SALARY, ADMIN CHARGE-0.85 % OF BASIC SALARY , EDLI ADMIN CHARGE = 0.01 % OF BASIC SALARY , EDLI ( EMPLOYEE DEPOSIT LINKED INSURANCE ) = 0.5 % OF BASIC SALARY .
MAXIMUM EPF CONTRIBUTION FROM EMPLOYEE SIDE IS 1800 /- ( 15000 * 12 /100 = 1800 /-)
ESI EMPLOYEE CONTRIBUTION 1.75 % OF GROSS SALARY
ESI EMPLOYER CONTRIBUTION 4.75 % OF GROSS SALARY , ESI IS ELIGIBLE IF GROSS SALARY IS ON 15K OR BELOW 15K
I HOPE THAT INFORMATION FROM SIDE IS USEFUL LITTLE BIT
From India, Chennai
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf
PF ESIC.xls