Binita chawda Started The Discussion:

Respected Seniors, I just want to know in private organisation how they calculate the PF & ESIC ? can anybody help me out for this... Thanks & Regards, Binita
For PF it is calculated on Basic+Da,,,For E.g- if Basic+da is 6500

then PF Calculated as 12% on that= 6500*12/100= 780 can deducted from employees.

and for monthly challan preparation if total number employees Basic + DA wages is 6500 then-

Employee contribute employer contribute

A/c 1- 12% i.e 6500*12/100= 780 3.67% i.e 6500*3.67/100=238.55

A/c 2- - 1.1% i.e 6500*1.1/100= 71.5

A/10- - 8.33% i.e 6500*8.33/100=541.45

A/C- 21 - 0.5% i.e 6500*0.5/100=32.5

A/C- 22 - 0.01% i.e 6500*0.01/100=0.65

Shrikant Talwar

Can anybody help me how to calculate salary, pf, & esi, and how to maintain attenance forms and form no and its procedures related to PF,ESI, EPFo.which form is useful and what should be atached like form1,2,etc. and contributions I want full details with calculations on depositlinked insurance and pf calculations detailed Please help me.

-srivani

**ESIC**1.ESIC is deducted those employees whom gross salary is not more than 15,000.00/month...

2.Both Employee & Employer has to contribute in it.

3.Employee Contribution % is 1.75 % and Employer Contribution % is 4.75% of gross salary.

4.and it should be calculate on next higher rupee method.

Eg. if my gross salary is 15,000.00 and for January month my working days are 28 days, then my gross would be for that month will be 13548.00.

so, as 1.75 %, 13548*1.75%=237.09 but as i told you earlier it will be calculate upon next higher rupee so it will be 238.00 and just that Employer Contribution 4.75 %, 13548*4.75%=643.53 but for esic it will be 644.00

and just total them and make challan of it and deposit it.

__PF__and as far PF is calculated on Basic + Dearness Allowance...

then PF Calculated as 12% of that amount by both employee and employer... but employee contribution goes as EPF (12%) but employer contribution is divide in two parts EPF (3.67%) & 8.33 % (FPF).

as one's gross is 13,000 then basic would be 6500.00 (50 % of Gross and it varies)

Employee Contribution - 6500*12 % = 780.00

Employer Contribution - 6500*3.67 % = 239.00

Employee Contribution - 6500*8.33 % = 541.00 but this contribution should not be more than 541.00 Rs.

it's the calculation for individual person.

and if you need how to make challan then write me...

Hope it will help you...

I am in a huge confusion regarding pay structure. Please let me know as to what is :

1. CTC

2. GROSS

and 3. NET

As per my knowledge :

NET + (EMPLOYEE'S CONTRIBUTION OF PF + EMPLOYEE'S CONTRIBUTION OF ESIC) = GROSS and GROSS + (EMPLOYER'S CONTRIBUTION OF PF + EMPLOYER'S CONTRIBUTION OF ESIC + PTAX) = CTC

IF THIS IS IT THEN THE SALARY BREAK UP OF EMPLOYEE "A" WOULD BE :

Basic 9600

HRA 2880

City Compensation Allowance 2880

Conveyance Allowance 1920

Education Allowance 1920

PF (EMPLOYEE) 1152

PF (EMPLOYEE) 1152

PTAX 130

Gross 19200

CTC 21634

Take Home 19070

BUT THE COMPANY IS OFFERING :

Basic 9600

HRA 2880

City Compensation Allowance 2880

Conveyance Allowance 1920

Education Allowance 1920

PF 1152

Gross 19200

CTC 20352

Take Home 18048

Kindly tell me as to which one is correct??? This is a bit urgent, so I would be glad if you could kindly help me.

Somdatta Neogi

9903068598

Kolkata (W.B.)

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