I have opened my company's ESI account. Can anyone please advise me on the actual calculation of ESI deduction? What allowances are exempted from ESI calculation?
Thanks & Regards,
Debasis Roy
From India, Bangalore
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Thanks & Regards,
Debasis Roy
From India, Bangalore
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ESI Coverage and Allowances
Regarding ESI coverage, there is no exclusion based on nomenclature. All allowances are includible for ESI purposes, regardless of the nature of the company.
An annual payout will be exempted from ESI (e.g., Diwali bonus, attendance bonus, LTA paid bi-yearly, etc.). Drawing more than Rs. 15,001/- is exempt from the deduction of ESI.
From India, Madras
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9Regarding ESI coverage, there is no exclusion based on nomenclature. All allowances are includible for ESI purposes, regardless of the nature of the company.
An annual payout will be exempted from ESI (e.g., Diwali bonus, attendance bonus, LTA paid bi-yearly, etc.). Drawing more than Rs. 15,001/- is exempt from the deduction of ESI.
From India, Madras
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ESI deduction.doc
ESI & PF CALCULATION.xls