Wage ceilings for Contributions of EPF and ESI As per NEW SOCIAL SECURITY CODE?

Hr Manager

Hr Consultant

Dear Sirs, As per NEW SOCIAL SECURITY CODE, would the wage ceilings for EPF Contributions and ESI continue and will attract ESI contribution on 50% Allowance which are not part of wage as per latest WAGE DEFINITION. Kindly explain...
22nd October 2020 From India, Nizamabad

Glidor

@Tumati ESI is payable on gross monthly wages, even on Overtime paid EPF is payable on Basic+DA+SDA
22nd October 2020

tumati-venkateswarlu_hr

Yes Sir. i completely agree with you, My question is pertaining to Wage Definition in Social Security Code.
As per ESIC - Wages allowances also attarcts ESIC COntribution, whereas ocial Security Code defines Upto 50% of allowances in wages are excluded. sothat ESIC contribution excludes this clause or not
6th November 2020 From India, Nizamabad

rkn61

As per the new Social Security code. in the definition of wages, components such as HRA, OT, Commission, and Travel allowance are excluded. Therefore liability of contributions of
employees and employers under EPF Act and ESI Act shall be reduced.
6th November 2020 From India, Aizawl

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Wage ceilings for Contributions of EPF and ESI As per NEW SOCIAL SECURITY CODE?

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