Can any one tel me how to calculate ESI and is there any limit for Washing allowance & Food Allowance because these are all the components excluding ESI . I need ur help.
From India, Madras
From India, Madras
Hi Anand,
Calculation of ESI
1. ESI (4.75%)= Gross salary - washing all
2. Contribution of Employee on ESI(1.75%) = Gross salary - washing all
3.Washing allowance = 200Rs.
Food allowance I am not quite sure if it is taxable or not. :no:
bye
Gayatri
From India, Delhi
Calculation of ESI
1. ESI (4.75%)= Gross salary - washing all
2. Contribution of Employee on ESI(1.75%) = Gross salary - washing all
3.Washing allowance = 200Rs.
Food allowance I am not quite sure if it is taxable or not. :no:
bye
Gayatri
From India, Delhi
Total ESI contribution is 6.50% of the Gross Salary. All those employees who are getting Gross salary upto Rs 10000/- per month (Effective from 01 Oct 2006. Earlier the limit was Rs 7500/- per month) have to be covered under ESI. Out of this 6.5%, 1.75% is employee's share and 4.75% is employers share.
The formula is: Employees' Share- Gross Salary x 1.75/100
Employer's Share- Gross Salary x 4.75/100
Total ESI contribution= Employee's Share + Employer's Share
Note: Gross Salary= All the monthly cash components (Inclusive of incentives)
food allowance varies from company to company.
thanks,
kavitha
From India, Maisuru
The formula is: Employees' Share- Gross Salary x 1.75/100
Employer's Share- Gross Salary x 4.75/100
Total ESI contribution= Employee's Share + Employer's Share
Note: Gross Salary= All the monthly cash components (Inclusive of incentives)
food allowance varies from company to company.
thanks,
kavitha
From India, Maisuru
To my knowledge,
for calculation of ESI, we have to consider all the components of salary except washing allowance.
Employees Contribution - 1.75%
Employers Contribution - 4.75%
Total remittance to ESI - 6.50%
Regards
S. Achuthanada
From India, Pune
7for calculation of ESI, we have to consider all the components of salary except washing allowance.
Employees Contribution - 1.75%
Employers Contribution - 4.75%
Total remittance to ESI - 6.50%
Regards
S. Achuthanada
From India, Pune
Hi to all, In calculating ESI keep in mind to convert amount to next round (rupee) when amount come in decimal places. Regards
From India, Nagpur
From India, Nagpur
dear as you have asked washing allowance is exempted from contribution towards ESI There is no limit of wahing allowance but it seems to be reasonable
From India, Delhi
From India, Delhi
hi,
as per esi act, i doubt there is a provision for get exemption on the following components while taking gross pay as the criteria for esi eligibility:
1. Transport allowance
2. Washing allowance
3. Contributed epf / pension fund
can experts let me clarify with clear proofs that how far we can go legally while synchronizing with min wages as well as esi exemption on the above components ?
4. Is there any way for getting complete esi exemption ? What is procedure ? Ours is a hospital.
as per esi act, i doubt there is a provision for get exemption on the following components while taking gross pay as the criteria for esi eligibility:
1. Transport allowance
2. Washing allowance
3. Contributed epf / pension fund
can experts let me clarify with clear proofs that how far we can go legally while synchronizing with min wages as well as esi exemption on the above components ?
4. Is there any way for getting complete esi exemption ? What is procedure ? Ours is a hospital.
From India, Visakhapatnam
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ESI Rule 52-Amended-Aver age Wage Limit Increased For Certain Cases Under Exemption From Payment .pdf