kumaracme1. Yes from day one he is covered.
2. There is no minimum payable, salary limit is Rs.10000/- per month but bonus will be paid only for Rs.3500/-
Bonus to calculate on Basic + Dearness Allowance.
3. Gratuity act, Minimum five years of service, max. gratuity payable is Rs.10 lakhs. gratuity has to be
calculated on Basic + DA
4. EPF rounded off to next rupee if fraction is > 50 paise, or if < 50 paise, calculate as zero
but in ESI rounded off to next rupee if 50.01 is ESI Contn you need to calculate as Rs.51/-
From India, New Delhi
firstname.lastname@example.org deinesh, fi ESIC contribution is 175.02 will be converted to Rs.176/- If EPF Contribution is Rs.261.02 will be converted to Rs.261.50
From India, Hyderabad
sridharan venkataramanDear Mr Dinesh Singh:
He is entitled to avail ESIC benefits right from day one onwards. However, the employer should establish some documental evidence such as the Employee signature in ESIC Declaration Form, Joining report, attendance marking etc at the time of inspection.
Bonus current wage ceiling is Rs.21000/- per month (Basic + DA) for entitlement to payment of Bonus as per the Act. Calculation criteria for wages is Rs.7,000/- per month or the Minimum Wages prescribed in the schedule of employment whichever is higher.
Gratuity entitlement is 4 years & 240 days of continuous completed service in an establishment. Maximum payable is Rs.10 Lacs. Gratuity shall be calculated to the components of salary of Basic + DA only.
From India, Mumbai
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