Hr Consulting ,trainer -creative Thinking
Asst. Manager - Hr
Its Samir again, Now I am facing different problem actually I have doubt,
And I need your help to solve,
1. In order to get expemtion from PF & ESIC ,
do we have to put basic &DA above 7500.
the whole monthly salary ie with allowances should be more than 7500.
If your monthly payroll exceeds Rs 7500/- ESIC wouldn’t be applicable.
You cannot get an exemption on PF which is a statutory requirement.
2. and can any body suggest good allowances which we can give in which (ours is a BPO)
a. It does not invite fringe benefit tax to the company &
b. And tax saver for employee's too.
few of it I have kept like ( HRA, Medical, Conv..) .
Suggest – please read the topic FBT implications on salary components under Compensation & Benefits..
Have a great day..
12th May 2006 From India, Pune
26th May 2006 From India, Mumbai
Regarding the Provident Fund :> The employment strength 20 or more less than that management descreation to cover it or not. But most of the big industries / establishments may approch voluntarly to the P.F authorities and cover their organisation. This will be attratcts the I.T saving also. The sealing limit of P.F is Rs. 6500/- . on Basic + D.A.
Regarding the Employees State Insurance : > The coverage will be depending upon the location of ESI dispesery and local office.
The sealing limit of ESI is Rs. 7500/- on total gross salary.
29th May 2006 From India, Kakinada