Dear Sir Let me know that any changes in PF & ESIC Maximum Limit on which PF & ESIC Dedution. Regards Sanjay
From India, Gurgaon
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From India, Gurgaon
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Mr. Sanjay,
P.F. Gross limit is (BASIC + D.A. + VDA + FDA) = Rs. 6,500. However, management can pay P.F. contribution total P.F. Gross, but EPS will be paid on Rs. 6,500 only.
For example, if one employee draws a P.F. Gross of Rs. 7,500, then the employee contribution is Rs. 7,500 x 12% = goes to EPF Account (A/c No.1). The employer contribution is 8.33% on Rs. 6,500 (i.e., Rs. 541) goes to EPS Account (A/c No.10), and the rest goes to EPF account (A/c No.1).
ESIC Limit is Rs. 10,000 Gross.
S.N. Swamy
From India, Hyderabad
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2P.F. Gross limit is (BASIC + D.A. + VDA + FDA) = Rs. 6,500. However, management can pay P.F. contribution total P.F. Gross, but EPS will be paid on Rs. 6,500 only.
For example, if one employee draws a P.F. Gross of Rs. 7,500, then the employee contribution is Rs. 7,500 x 12% = goes to EPF Account (A/c No.1). The employer contribution is 8.33% on Rs. 6,500 (i.e., Rs. 541) goes to EPS Account (A/c No.10), and the rest goes to EPF account (A/c No.1).
ESIC Limit is Rs. 10,000 Gross.
S.N. Swamy
From India, Hyderabad
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PF ESIC.xls
PF salab limit.pdf