I have a clarification. In case an employee works on a National Holiday with overtime, management has decided to pay a premium wage of 200%. For normal working hours, we calculate 200%, but how do we calculate the wages for the overtime hours?
You have to pay based on the actual amount you pay as overtime wages (200% of normal wages). You neither need to count OT hours for the calculation of ESIC contribution nor do you have to specify them separately. You need to keep the contribution record of overtime for future reference only.
Regards,
Rahul Sindhwani
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute