PF & ESI Rate - Form-16
CiteLegal
 
HOME RISE NEW ABOUT LOGIN
Home > CiteHR > New To The Forum?

PF & ESI Rate - Form-16

neelusingh13 Started The Discussion:

May I know the PF & ESI rate for current financial year,and what about the limits to deduction the PF as well as ESI

iqbalchanna - Member Since: Nov 2008
hi attached here with regarding esi & epf , any need mail me iqbalchanan@gmail.com regards Iqbal Channa 09914241508


Attached FilesProvided by community member iqbalchanna. Join us to learn and grow with your peers.
File Type: doc EPF.doc (47.0 KB, 3656 views)
File Type: doc ESI.doc (46.0 KB, 2053 views)
Neer300182 - Member Since: Aug 2009
Quote:
Originally Posted by neelusingh13 View Post
May I know the PF & ESI rate for current financial year,and what about the limits to deduction the PF as well as ESI

Dear Neelu,

Good Morning :-P!!!

PF Contributions : 1. Employee 12%
2. Employer 12%

PF is optional on and over Rs. 6500 ( Basic Salary)

ESI Contributions: 1. Employee 1.75%
2. Employer 4.75 %

ESI limit is Rs. 10000 gross Salary

karthik balaji - Member Since: Dec 2009
Calculations for

PF of Basic+DA

ESI on Gross earnings(Washing allowance is exempted)

Difference between gross salary and gross earnings is

eg: your gross salary is 9500/month and you worked over time/got holiday wage or any other component like incentive etc where the earning of that month is 11000 you are entitled for ESI deduction.

Dear Seniors
for your suggestions and corrctions if any...,

Regards
Karthik







Quote:
Originally Posted by Neer300182 View Post
Dear Neelu,

Good Morning :-P!!!

PF Contributions : 1. Employee 12%
2. Employer 12%

PF is optional on and over Rs. 6500 ( Basic Salary)

ESI Contributions: 1. Employee 1.75%
2. Employer 4.75 %

ESI limit is Rs. 10000 gross Salary

sarathsupportservices - Member Since: Jan 2010
Hi i need to apply ESI & PF. We are into Housekeeping services, any one pls help me. My name is sarath babu contact No; 9884491567

kishorpp - Member Since: Mar 2010
Hi this is Kishor Patil from Shakti Corporation Services ( Epf & Esic Consultant) for detail pls contact kishorp 09011883709

mshrivsta - Member Since: May 2010
Employee State Insurance
Coverage - Act is applicable to non-seasonal factories using power and employing 10 or more persons and non-power using factories 20 or more persons.
Earning wages limit- Gross Salary Rs. 10,000/- w. e. f. 01.04.2006.
Contribution : By Employer @ 4.75%
By Employee @ 1.75%
Registration and number allotment- Duly filled Form-01
For Employees Form 01 & Declaration Form no. 03 within 10 days of joining, kept one copy of Form-3 for record.
Identity Cards : Form 4 the ESI Office will issue the same.
Register for ESI Record : Every employer shall maintain a register in Form-6 which is prescribed in rule-32.
Contribution periods 1st : 1st April to 30th September
2nd : 1st October to 31st March
Challans Deposit : Deposit in bank by 21st of every month.
Returns of contribution : On Form no. 5 in quadruplicate with Six Challans within or before 11 May & 12 Nov of every year mandatory certified by the Chartered Accountant if the member are 40 nos. or more w. e f. 01.04.2008.
Special Provision :
(i) Within 42 days of the termination of the contribution period to which it related.
(ii) Within 21 days of the date of permanent closure of the factory.
(iii) Within 7 days of the date f receipt of requisition in that behalf from the appropriate office.
Notice of Accident : As soon as practicable after the accident.
Maintenance of Accident Book : Form-15 any injury to an insured person.
Report to Accident :
1. Immediately if the injury is serious. i.e. is likely to be cause to death or permanent disablement or loss of a member.
2. In any other case within 24 hours after the receipt of the notice or when the accident came to his notice or to his foremen or other official under whose supervision the insured person was employed at the time of accident.
3. If the injury result in the death at the place of employment, the report to IMO and Local Office should be sent through a special messenger.
Every Employer shall send a report in Form-16 to the nearest Local Office and to the nearest Insurance Medical Officer in triplicate i.e.
(1) One deposit to Local Office
(2) Second deposit to IMO
(3) Kept for their records.
Benefit Period : If the person joined insurable employment for the first time say 5th January, but his contribution period will be 5th Jan to 31st March and his corresponding first benefit will be from 5th October to 31st December.
Sr. No. To be deemed as a wages Not to be deemed as a wages
1 Basic Allowance Contribution paid by employer on any pension / PF or ESI
2 Dearness Allowance Daily Allowance paid for period spent on tour
3 House Rent Allowance Encashment of leaves
4 City Compensatory Allowance Washing Allowance
5 OT Wages Amount towards reimbursement for duty related journey
6 Production Incentive Gratuity payable on discharge
7 Payment for day of rest Benefit paid under ESI
8 Night Shift Allowance Payment of Inam which does not form part of the terms of employment
9 Meal / Food Allowance
10 Suspension Allowance
11 Conveyance Allowance

Damages or contribution or any other amount due but not paid in time-
Sr. No. Period of delay Maximum rate of damages in % per annum of the amount due
1 Less than 2 months 5 %
2 Grater than 2 but less than 4 months 10 %
3 Grater than 4 but less than 6 months 15 %
4 Grater than 6 months 25 %

Penalties : Different punishment have been prescribed for different types of offences in terms of section 85 :
(i) Six month imprisonment and fine Rs. 5000/-
(ii) One year imprisonment and fine
And under section 85-A
(i) Five year imprisonment and not less than 2 years


And under section 85-C(2) of the ESI Act which are self explanatory
Besides these provisions, action also can be taken under section 406 of the IPC in case where an employer deduct contribution from the wages of his employees but does not pay the same to the corporation which amounts to criminal breach of trust.

ommygautam - Member Since: Nov 2007
nice notes but there is a changing in Wages of E.S.I. ( from 10000/- to 15000/-). pl change it

tush_sharma - Member Since: Aug 2010
HI, can u plz make me aware about the ESI. where it is applicable any special reagion ? TUSHAR SHARMA

pramodtulsankar@yahoo.com - Member Since: Mar 2012
as per my knowledge and opinion PF contribution will be bioforcate like below

1) employers PF contribution 3.67% of basic
2) Employers contribution towards pension is 8.33% of basic
3) Employees PF contribution is 12% of basic
4) EDLI charges deduct from employer which will be 0.50% of basic
5) Admin charges deduct from Employer which will be 1.10% of basic
6) EDLI admin charges deduct from employer which will be 0.01% of basic

Pramod Tulsankar
Asst HR Othello
MO:09904720250



Found This Useful? +Vote Up This Page Via Google.  

Why Vote? User validation is extremely important for good content to prosper.
Disclaimer: This network and the advice provided in good faith by our members only facilitates as a direction towards the actions necessary. The advice should be validated by proper consultation with a certified professional. The network or the members providing advice cannot be held liable for any consequences, under any circumstances.




Explore Topical Knowledge Areas

Interesting Relevant Discussions


DISCUSSSION STATISTICS


2
LIKES

8263
VIEWS

11
REPLIES

PLEASE KEEP YOUR CONDUCT PROFESSIONAL AND POLITE


3M Users, 100K+ Documents & 450K+ Discussions

Share »

Community Support & Professional Insights. Login or Register.
Email/Username     Password  

About Us - Advertise - Contact Us - RSS   On Google+  
All trademarks and copyrights held by respective owners. Member comments are owned by the poster.
Privacy Policy | Disclaimer | Terms Of Service
Facebook Page | Follow Us On Twitter | Linkedin Network