Hi Sharad,
Gross= Salary + Employers' ESI and PF Share+Gratuity+Bonus
Net Salary = Gross- Employers' PF Share - Employers' ESI
CTC= Gross + Cash value of all fringe benefits
Hope it will clear your doubt
Amit Goyal
From India, Delhi
10Gross= Salary + Employers' ESI and PF Share+Gratuity+Bonus
Net Salary = Gross- Employers' PF Share - Employers' ESI
CTC= Gross + Cash value of all fringe benefits
Hope it will clear your doubt
Amit Goyal
From India, Delhi
Dear
What you get per month is salary .Gross salary is addition of all the benefits i. e medical , conveyance , fooding ,travelling claim ( LTA , trips for the offical trip , study trip or with family on vacation ,social security cost like PF , Mediclaim policy premium , lic premium etc when added to the packge & divided by the equal no of payment mode in the year like month is conside the gross salary.
What you get per month is salary .Gross salary is addition of all the benefits i. e medical , conveyance , fooding ,travelling claim ( LTA , trips for the offical trip , study trip or with family on vacation ,social security cost like PF , Mediclaim policy premium , lic premium etc when added to the packge & divided by the equal no of payment mode in the year like month is conside the gross salary.
Dear All..
The Gross Salary is total payable salary of an employee for a month, it includes all the benefits he is getting in terms of cash in a month.. Whereas Salary is the net payable amount of that month after deductions of employee's PF & ESI contribution not the employer's, any advance taken, Professional tax and any other deduction...
In general when we give the payslip, there we do mention the payable amount at one side whereas deductions to be made at other side.. and the rest amount which is going to be paid is called as salary of that month.
Regards,
Amit Seth.
From India, Ahmadabad
The Gross Salary is total payable salary of an employee for a month, it includes all the benefits he is getting in terms of cash in a month.. Whereas Salary is the net payable amount of that month after deductions of employee's PF & ESI contribution not the employer's, any advance taken, Professional tax and any other deduction...
In general when we give the payslip, there we do mention the payable amount at one side whereas deductions to be made at other side.. and the rest amount which is going to be paid is called as salary of that month.
Regards,
Amit Seth.
From India, Ahmadabad
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From India, Calcutta
From India, Calcutta
Hi Priya..
The ESI is an Act and every employee covered under this have to contribute 1.75% of their gross salary where employer also deposit 4.75% of the Gross salary.
The formalities for ESI is you must have a strength of 20 employees, no matter whether they are getting salary more than 10000/- or lesser. As maximum ceiling of ESI contribution is upto 10000/- Gross/Month only. Those getting 10001/- will be exempted from the ESI.
ESIC stands for Employee State Insurance Corporation..
The Employer should get the Factory or Establishment registered with the ESI Corporation within 15 days of the applicability of ESI Act. The declaration of registration is to be filled in form 01, along with a separate sheet containing the name and address of the Establishment, number of employees, nature of duty and name, designation and address of the manager controlling such persons, in respect of office situated outside. After been satisfied with the application the ESI regional office will allot a code number to the employer.
After that only you can register your emplyees with the ESI. They have to fill up a declaration form FORM 1, written clearly Male or Female. All the declaration forms should be counter signed by the employer.
Then prepare a return of declaration in form 3 separate for Male & Female within 10 days of filling of declaration form.
Then every employee shall be alloted an temporary identification number.
Hope now it will be very much clear with you.
Feel freeto revert if any problem is there to get it understand.
Regards,
Amit Seth.
From India, Ahmadabad
The ESI is an Act and every employee covered under this have to contribute 1.75% of their gross salary where employer also deposit 4.75% of the Gross salary.
The formalities for ESI is you must have a strength of 20 employees, no matter whether they are getting salary more than 10000/- or lesser. As maximum ceiling of ESI contribution is upto 10000/- Gross/Month only. Those getting 10001/- will be exempted from the ESI.
ESIC stands for Employee State Insurance Corporation..
The Employer should get the Factory or Establishment registered with the ESI Corporation within 15 days of the applicability of ESI Act. The declaration of registration is to be filled in form 01, along with a separate sheet containing the name and address of the Establishment, number of employees, nature of duty and name, designation and address of the manager controlling such persons, in respect of office situated outside. After been satisfied with the application the ESI regional office will allot a code number to the employer.
After that only you can register your emplyees with the ESI. They have to fill up a declaration form FORM 1, written clearly Male or Female. All the declaration forms should be counter signed by the employer.
Then prepare a return of declaration in form 3 separate for Male & Female within 10 days of filling of declaration form.
Then every employee shall be alloted an temporary identification number.
Hope now it will be very much clear with you.
Feel freeto revert if any problem is there to get it understand.
Regards,
Amit Seth.
From India, Ahmadabad
Hi Priya,
ESI is the social security measure under which an employee can avail the free treatment and hospitalisation facilities at designated ESI dispensaries and ESI Hospitals. ESI stands for Employees State Insurance. Any establishment employing 20 or more employees has to be covered under ESI Act. All those employees whose monthly salary (All cash components payable on monthly basis) is upto Rs 10,000 are to be covered under ESI. For the coverage under ESI an employee has to contribute 1.75 % of Net Salary and at the same time employer is liable to contribute 4.75% of net salary of individual employee.
For any further clarification feel free to ask...
Amit Goyal
From India, Delhi
ESI is the social security measure under which an employee can avail the free treatment and hospitalisation facilities at designated ESI dispensaries and ESI Hospitals. ESI stands for Employees State Insurance. Any establishment employing 20 or more employees has to be covered under ESI Act. All those employees whose monthly salary (All cash components payable on monthly basis) is upto Rs 10,000 are to be covered under ESI. For the coverage under ESI an employee has to contribute 1.75 % of Net Salary and at the same time employer is liable to contribute 4.75% of net salary of individual employee.
For any further clarification feel free to ask...
Amit Goyal
From India, Delhi
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Gross Salary(1).xls