Hi
Provident Fund:- Calculated on basic sal. which is 12% from employee and 12% of employer, and it is part of your CTC.
There are conditions for Provident fund:
1) 12% of basic contributed by employee
12% of basic contributed by employer
2) If Basic > 6500, there is a catch of 6500
12% of basic contributed by employee, but
12% of 6500 contributed by employer
3) If Basic > 6500, both
12% of 6500 contributed by employee
12% of 6500 contributed by employer
4) If Basic < 6500, then there is a catch of 5500
12% of 5500 contributed by employee
12% of 5500 contributed by employer
Note: any one condition could be followed in a organization, and employee could contribute voluntary i.e more than 12%
ESI
The ceiling coverage in ESI is gross salary<=15000, then eligible for esi benefits.
The contribution of ESI
Employee contribution is 1.75% of gross
Employer share is 4.75% of gross
Thnaks..
Provident Fund:- Calculated on basic sal. which is 12% from employee and 12% of employer, and it is part of your CTC.
There are conditions for Provident fund:
1) 12% of basic contributed by employee
12% of basic contributed by employer
2) If Basic > 6500, there is a catch of 6500
12% of basic contributed by employee, but
12% of 6500 contributed by employer
3) If Basic > 6500, both
12% of 6500 contributed by employee
12% of 6500 contributed by employer
4) If Basic < 6500, then there is a catch of 5500
12% of 5500 contributed by employee
12% of 5500 contributed by employer
Note: any one condition could be followed in a organization, and employee could contribute voluntary i.e more than 12%
ESI
The ceiling coverage in ESI is gross salary<=15000, then eligible for esi benefits.
The contribution of ESI
Employee contribution is 1.75% of gross
Employer share is 4.75% of gross
Thnaks..