Respected Seniors,
I am HR Executive in a pvt Ltd, as this is my first job as a HR. So i don't have practical knowledge about PF and ESIC deep knowledge i know about deduction percentage but i want to about full knowledge about both deductions. kindly solve my problem.
From India, Delhi
4I am HR Executive in a pvt Ltd, as this is my first job as a HR. So i don't have practical knowledge about PF and ESIC deep knowledge i know about deduction percentage but i want to about full knowledge about both deductions. kindly solve my problem.
From India, Delhi
Hi
ESI is contributed from both the sides Employee as well as Employer.
It is been calculated on the basis of Gross salary per month and the maximum ceiling is 15000 Rs./Month.
The contribution from both the sides is as below-
Employee Side- 1.75% of gross/month
So if gross of an employee is 8000/month then
ESI contribution would be 8000*1.75% = 140 Rupees
Employer side- 4.75% of gross/month
ESI contribution would be 8000* 4.75% = 380 Rupees.
Whereas, PF is also been paid from both the sides.. Both the employer as well as employee is required to pay the 12% of basic salary..
Out of this 12% of employer's contribution 8.33% goes to Pension fund whereas rest 3.67% goes to the PF Fund itself..
Regards,
From India, New Delhi
ESI is contributed from both the sides Employee as well as Employer.
It is been calculated on the basis of Gross salary per month and the maximum ceiling is 15000 Rs./Month.
The contribution from both the sides is as below-
Employee Side- 1.75% of gross/month
So if gross of an employee is 8000/month then
ESI contribution would be 8000*1.75% = 140 Rupees
Employer side- 4.75% of gross/month
ESI contribution would be 8000* 4.75% = 380 Rupees.
Whereas, PF is also been paid from both the sides.. Both the employer as well as employee is required to pay the 12% of basic salary..
Out of this 12% of employer's contribution 8.33% goes to Pension fund whereas rest 3.67% goes to the PF Fund itself..
Regards,
From India, New Delhi
PF:-
Account
A/C 1 (PF) - 12 % (Employee’s Share) + 3.67 % + Amt. > 541 (Employer’s Share)
A/C 2 (Admin Charges for PF) - 1.10 % (Employer’s Share)
A/C 10 (Pension Fund) - 8.33 % Limit 541 (Employer’s Share)
A/C 21 (EDLI) - .5 % (Employer’s Share)
A/C 22 (Admin Charges for EDLI) - .01 % (Employer’s Share)
**Total Contribution is 12 % Employee’s + 13.61 % Employer’s = 25.61 %
ESI:-
1.75 % (Employee’s Share)
4.75 % (Employer’s Share)
** Employees in receipt of a daily average wage upto Rs.100/- are exempted from payment of contribution. Employers will however contribute their own share in respect of these employees.
From India, Kota
Account
A/C 1 (PF) - 12 % (Employee’s Share) + 3.67 % + Amt. > 541 (Employer’s Share)
A/C 2 (Admin Charges for PF) - 1.10 % (Employer’s Share)
A/C 10 (Pension Fund) - 8.33 % Limit 541 (Employer’s Share)
A/C 21 (EDLI) - .5 % (Employer’s Share)
A/C 22 (Admin Charges for EDLI) - .01 % (Employer’s Share)
**Total Contribution is 12 % Employee’s + 13.61 % Employer’s = 25.61 %
ESI:-
1.75 % (Employee’s Share)
4.75 % (Employer’s Share)
** Employees in receipt of a daily average wage upto Rs.100/- are exempted from payment of contribution. Employers will however contribute their own share in respect of these employees.
From India, Kota
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