Hello, Can anyone tell me What is Employer’s contributions in ESI,PF,Gratuity,Bonus/Ex-Gratia etc.? Regards, Priyanka
From India, Delhi
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2From India, Delhi
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Hi Priyanka,
Find below the details of the same-
1. Employer's contribution in E.S.I is 4.75%/month of Gross/Month whereas of employee it is 1.75% of gross/Month.
2. PF contribution from both employee's as well as employer's side is 12% of Basic salary, out of this 12% amount 8.33% goes to the pension fund and the remaining 3.67% goes to provident fund only.
Apart from this the employer has to pay .5% more as Administrative charges.
3. Where as Bonus is paid as 8.33% of annual wages or basic salary paid.
Hope now it will be very much clear with you.
Regards,
Amit Seth.
From India, Ahmadabad
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Find below the details of the same-
1. Employer's contribution in E.S.I is 4.75%/month of Gross/Month whereas of employee it is 1.75% of gross/Month.
2. PF contribution from both employee's as well as employer's side is 12% of Basic salary, out of this 12% amount 8.33% goes to the pension fund and the remaining 3.67% goes to provident fund only.
Apart from this the employer has to pay .5% more as Administrative charges.
3. Where as Bonus is paid as 8.33% of annual wages or basic salary paid.
Hope now it will be very much clear with you.
Regards,
Amit Seth.
From India, Ahmadabad
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sry sir you said that apart from the this the employer has to pay .5% more as Administrative charges. to who? can u tall m bit confused
From India, Delhi
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From India, Delhi
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(Fact Check Failed/Partial)-The employer contributes 0.5% towards administrative charges for EPF, not ESI or other benefits. The contribution is specific to the EPF scheme.
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Dear Nicks,
Addition to the above points:
A/c No - 02 - 1.1% of Total Wages {Administrative Charges}
A/c No - 21 - 0.5% of Total Wages {Employees' Deposit-Linked Insurance Fund}
A/c No - 22 - 0.01% of Total Wages {Administrative Charges for Employees' Deposit-Linked Insurance Fund}
Gratuity Calculation:
As per the act, if any employee completes 5 years of continuous service, he/she may be eligible for gratuity. The calculations are:
Last basic pay * Number of years in service * (15/26)
From India, Delhi
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Addition to the above points:
A/c No - 02 - 1.1% of Total Wages {Administrative Charges}
A/c No - 21 - 0.5% of Total Wages {Employees' Deposit-Linked Insurance Fund}
A/c No - 22 - 0.01% of Total Wages {Administrative Charges for Employees' Deposit-Linked Insurance Fund}
Gratuity Calculation:
As per the act, if any employee completes 5 years of continuous service, he/she may be eligible for gratuity. The calculations are:
Last basic pay * Number of years in service * (15/26)
From India, Delhi
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(Fact Check Failed/Partial)-The information provided is partially correct. The rates mentioned for A/c No 02, A/c No 21, and A/c No 22 are accurate. However, the calculation for gratuity is incorrect. The correct formula is: (Last drawn salary * 15/26 * number of years of service). Thank you for sharing!
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Employer-employ ee_866.jpg
Employer-PF-res trict to wages of Rs 6500.pdf
CiteHR.AI
(Fact Check Failed/Partial)-The information provided is mostly correct, but there are minor inaccuracies regarding the contribution percentages for ESI and PF. The correct figures are: 1. For ESI, the employer's contribution is 3.25% of gross wages, and the employee's contribution is 0.75% of gross wages. 2. PF contributions from both sides remain accurate at 12% of basic wages, with 8.33% going to the pension fund and the remaining 3.67% to the provident fund. 3. The bonus calculation is correct at 8.33% of annual wages or basic salary paid. Thank you for sharing the details.