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Raja srinivasan
As per employees Esi contribution, We will calculate 1.75. Yesterday i will submit the esi in online.1.75% is 24576.72 for total wages 1404384 . But online portal is calculating 24642.00 (additionally Rs 65.28). Any one can explain about this.
From India, Chennai
jitendersyadav
68

Hi,
You are calculating 1.75% on the total wages while portal calculate 1.75% on individual wages.
Difference could be rounded off figures. Each .01 figures will be rounded off with next rupees.
Rgds/Jitender

From India, New Delhi
Raja srinivasan
Dear Jitender, I also try that also, But its not like this much of difference.
From India, Chennai
bkagrahari
4

Hii, use =round("GMS Salary" * 1.75% , 0) formula to calculate each employee ESIC amount, then after sum it.
From India, Delhi
kannanmv
257

Greetings Raja,
ESI introduced the concept of rounding up a few years ago. Any contribution, either Employer or Employee contribution is greater than a rupee is rounded up to the next higher rupee, even if it is 5 paise above a rupee it is rounded up to the next higher rupee.
Try the formula =roundup("Gross salary"*1.75%,0) for employee contribution and change it to 4.75% for employer contribution, you will arrive at the figure in the ESI portal.
Please note that you have to compute this way for each employee.
Regards

From India, Madras
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