Dear all, Plz tell me wether i can show employer contribution of esi & pf in salary structure of any employee? I am new in HR and need urgent reply. Plzzzzzz......... Vijay Vyas
From India, Jaipur
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From India, Jaipur
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Hi,
It is optional to show Employer Contribution in PF & ESI, but it can be shown separately. In normal pay slips, only the deduction part is shown. In the details of payslips, if you wish, you can show it; otherwise, there is no need.
Regards,
Sachin
9720103809
From India, Bangalore
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It is optional to show Employer Contribution in PF & ESI, but it can be shown separately. In normal pay slips, only the deduction part is shown. In the details of payslips, if you wish, you can show it; otherwise, there is no need.
Regards,
Sachin
9720103809
From India, Bangalore
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Base salary comprises:
(1) Basic (50% of Base)
(2) HRA (40% of Basic)
(3) LTA
(4) Transport/Conveyance Allowance
(5) Misc./Ad-hoc/Special Allowance (this is the remaining amount, i.e., a balancing figure) - you can also add more categories like Dress Allowance, etc., but not mandatory
On top of the Base salary, you should have the following statutory pay-outs:
(1) Statutory Bonus (as applicable under the Payment of Bonus Act - not applicable to everyone)
(2) Medical Allowance (up to Rs. 1,250 per month)
(3) PF (@ 12% - you can show employer's contribution as part of CTC; the employee's contribution need not be shown separately, as it is understood that PF gets deducted from their salary)
(4) Gratuity
Hope this helps.
Lexorcist
From United States, Falls Church
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(1) Basic (50% of Base)
(2) HRA (40% of Basic)
(3) LTA
(4) Transport/Conveyance Allowance
(5) Misc./Ad-hoc/Special Allowance (this is the remaining amount, i.e., a balancing figure) - you can also add more categories like Dress Allowance, etc., but not mandatory
On top of the Base salary, you should have the following statutory pay-outs:
(1) Statutory Bonus (as applicable under the Payment of Bonus Act - not applicable to everyone)
(2) Medical Allowance (up to Rs. 1,250 per month)
(3) PF (@ 12% - you can show employer's contribution as part of CTC; the employee's contribution need not be shown separately, as it is understood that PF gets deducted from their salary)
(4) Gratuity
Hope this helps.
Lexorcist
From United States, Falls Church
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