Dear All,
I just want to get it clear that PF, ESIC, Bonus calculation are done on Gross or net salary n logic behind it.
Like PF is 12% of Employee contribution n 12% is of Employer's contribution in general so the 12% is of which? is it monthly net take home or monthly Gross.
Same is with ESIC & bonus.
Also i want to know that the new limit of ESIC is now 15,000/- per month, so it is also gross or Take home salary amount.
N Last one the slabs for Professional Tax deduction.
I just want to get it clear that PF, ESIC, Bonus calculation are done on Gross or net salary n logic behind it.
Like PF is 12% of Employee contribution n 12% is of Employer's contribution in general so the 12% is of which? is it monthly net take home or monthly Gross.
Same is with ESIC & bonus.
Also i want to know that the new limit of ESIC is now 15,000/- per month, so it is also gross or Take home salary amount.
N Last one the slabs for Professional Tax deduction.