PT, PF and ESIC Deduction (Maharashtra)
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PT, PF and ESIC Deduction (Maharashtra)

amar aware Started The Discussion:

Hi to all,

I want to know on which Allowances PT, PF and ESIC deductions are applicable and not applicable in Maharashtra state for both Live and FNF employees.

Please help.....

Thanks in advance.

Regards
Amar

Madhu.T.K - Member Since: Sep 2007
Provident Fund is to be deducted and contributed on Basic salary and Dearness Allowances only. ESI is to be taken on gross salary including Basic, DA, HRA, Conveyance and other allowances which are paid in an interval of not more than two months. That is to say, if you have the practice of paying incentives/ bonus on a monthly basis, that should also be taken as salary for ESI purpose. That means only reimbursements like travelling expenses, LTA are exempt from ESI.

For Profession Tax also total income received by an employee by whatever means like salary, bonus etc,during the half year will qualify.

I didn't get what are Live and FNF employees.

Regards,

Madhu.T.K

amar aware - Member Since: Oct 2008
Dear Sir,

Thanks for information.......

Live employees means currently working and FNF (Full and Final Settlement) means Quit employees.

I would like to know Whether Leave encashment calculated on Basic salary will be consider for PF, PT and ESIC deduction for Live and Quit employees salary paid.

Regards
Amar

Madhu.T.K - Member Since: Sep 2007
For leave encashment PF and ESI are not required to be deducted. While making F&F, PF and ESI till the date of working shall be deducted from the salary (till date of settlement) As far as Profession Tax is concerned, you must have a record of it and if you have not deducted PT on a monthly basis, deduct the PT in full according to the slab when Full and Final Settlement is made.

Regards,

Madhu.T.K

amar aware - Member Since: Oct 2008
Dear Sir,

If at the time of final settlement only Leave encashment payments are made then will PT be deducted on it....

(His all salary is paid in previous month and only Leave balance is paid in FNF)

Regards
Amar

Madhu.T.K - Member Since: Sep 2007
PT is to be recovered from whatever amount is due to him, whether by way of salary or leave encashment. If you do not recover the PT from him either in cash or as deduction from dues payable, the company will be liable to pay the amount.

Regards,

Madhu.T.K

sameer jha - Member Since: Feb 2009
PF deduction - 12% of Basic+D.A,Limitation - Rs.6500(Basic + D.A) ESIC - Employee’s share - 1.75% P.Tax- Rs. 5001-10000= Rs.175,Rs.10001-above= Rs.200 per month

ruhitk - Member Since: Aug 2010
Do PT gets deducted while calculating F-n-F?



The question is because say eg :- if employee leave on 19-Aug-10 & joines another company on 20-Aug-10, then other company will definately deduct PT. But current company from which he has resigned do not know whether he is going to join other company or not, so during F-n-F shall employer deduct PT???

& if PT gets deducted during F-n-F then why the individual suffer deduction of PT twice in same month............

Plz clear the doubt.................. :)

Madhu.T.K - Member Since: Sep 2007
PT due on salary paid by first company till date of his leaving will have to be deducted and paid by the first company and that portion of salary paid by the second company, if it falls within the taxable brackets, should only be paid by the second company. Here the first company need not worry about his earnings after he left the establishment and in the similar way, the second company need not go in depth about whether the first company had deducted the PT or not.

Regards,

Madhu.T.K

montydoon1 - Member Since: Aug 2010
hello all

I want to know about these forms which are necessary for PF and ESIC .Could any one tell me about these and if possible show a sample copy of these forms.
Form 19
Form 10C
or Form 13+ Form 2 and Form 11

thanks



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