Hello Everyone,
I have a few questions, please help me out with this:
1) If the salary is 30k in hand, what will be the gross salary and how do we calculate it?
2) If the salary is 30k and I don't want to pay into PF, what should I do? What all is required?
3) What is the max limit in PF that we can deduct if the salary goes up to 50k?
4) If the employee is already receiving ESI benefits, should the company also provide a mediclaim benefit to them? Or can the employee avail both benefits?
Appreciate the quick replies.
Regards,
Preeti
From India, Delhi
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3I have a few questions, please help me out with this:
1) If the salary is 30k in hand, what will be the gross salary and how do we calculate it?
2) If the salary is 30k and I don't want to pay into PF, what should I do? What all is required?
3) What is the max limit in PF that we can deduct if the salary goes up to 50k?
4) If the employee is already receiving ESI benefits, should the company also provide a mediclaim benefit to them? Or can the employee avail both benefits?
Appreciate the quick replies.
Regards,
Preeti
From India, Delhi
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Hi Preeti,
First, you need to decide the gross pay, and after all deductions, you will get Net Pay. Without knowing the deductions, it is highly impossible to ascertain the Net salary.
If any employee is joining the organization, ask him/her to fill PF Declaration form 11. Check whether he/she is covered under EPF. If they are covered, you can't exempt. If not covered under EPF in previous companies & if the Basic is above 15000/-, then you can exempt.
If Basic is above 15000/-, then you can restrict it to 15000/- only. So 12% on 15000/- is Rs. 1800/-.
If any employee is covered under ESI, then there is no need for a Medical policy. If the company is willing, they can avail both benefits.
If you have any doubts, you can reach me.
From India, Bangalore
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First, you need to decide the gross pay, and after all deductions, you will get Net Pay. Without knowing the deductions, it is highly impossible to ascertain the Net salary.
If any employee is joining the organization, ask him/her to fill PF Declaration form 11. Check whether he/she is covered under EPF. If they are covered, you can't exempt. If not covered under EPF in previous companies & if the Basic is above 15000/-, then you can exempt.
If Basic is above 15000/-, then you can restrict it to 15000/- only. So 12% on 15000/- is Rs. 1800/-.
If any employee is covered under ESI, then there is no need for a Medical policy. If the company is willing, they can avail both benefits.
If you have any doubts, you can reach me.
From India, Bangalore
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