Understanding PF, ESI, Bonus, and More: Can You Help Me Prepare for My Interview?

Respected Sir/Madam,

I am working as an associate consultant. I need information about the PF, ESI, Bonus, LTC, and Medical calculation for my interview. I have another query: what is 8.33% related to? Is it related to PF or bonus?

Please help me. Send the answer to my personal email address: sahay.archana@gmail.com.

This is a very wide topic. In PF, 8.33% is the percentage for EPS (Employee Pension Scheme), and its bonus limit is 8.33% to 20%.

Regards,

Lata

Lalita, you have mentioned logical quotes. Well, the Provident Fund (PF) contribution from the employee is 12% of the Basic salary, and from the employer's side, it is 8.33% towards the Pension fund (up to Rs. 541) and 3.67% towards the PF.

For the Employee State Insurance Corporation (ESIC), the contribution from the employee is 1.75% of the Gross salary, and from the employer, it is 4.75%.

Regarding Bonus, the eligibility criterion is having worked for at least 30 days in the last preceding year. The bonus is calculated from the Basic salary, ranging from 8.33% to 20%, capped at Rs. 3500, for employees aged between 15 to 18 years, with a minimum of Rs. 100.

Leave Travel Concession (L.T.C.) is paid based on the last Basic salary divided by 12 months (April to March) multiplied by the months served. For example, if an employee is relieved on the 31st of August after working from April to August (5 months), the calculation would be 25000/12*5.