what kind of salary component you need to calculate esic...
you can deduct esic whose gross salary is under 15000.00 per month,
and employee side it's 1.75 % round of one rupee, and employer side it's 4.75 % round of one rupee.
example :
if anyone's gross is 15000.00 and that employee drawing 14500.00, in any particular month, then calculation should be like this -
14500 * 1.75 % = 254
14500 * 4.75 % = 689
that's it.
Dear Mr Kalpeshkarapurkar,
Nitesh has got down and answerd all ur questioins............! the above method is the correct method of calculating ESIC
Thanks and Regards
Ravibhushan
Dear friends
My Company is a small concern having 6-7 ESIC insured person. We deal with Medicines Trading activities not manufacturing. Is it necessary to maintain Accident book under ESIC Regulation 66.
Regards
Veda
Dear All
I have one query that labour office is asking to pay bonus 20% , We are already complying 8.33% is it correct or not. We are also paying Ex. Gratia which is part of CTC shall we keep this record on our bonus register.
Please guide.
Regards,
H.S
well
Simply speaking, CTC is the amount that you cost your company. That is, it is the amount that the company spends – directly or indirectly – because of employing you.
Gross Amount is before deduction (i.e. PF, ESIC, P.T., Advances etc.)
Net salary is the take home salary of the employee, after deduction.
Hopefully it will help you !
Hi,
I think this is for our records, because when only we register employees in ESIC website than it also necessary to have records and acceptance of employees itself.
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