To calculate the Provident Fund (PF) and Employee State Insurance (ESI) deductions, you need to understand the applicable rates and limits. The rates are as follows:
Provident Fund (PF):
Employee contributes 12% of the basic salary towards PF.
Employer also contributes 12% of the basic salary towards PF.
Employee State Insurance (ESI):
Employee contributes 0.75% of the gross salary towards ESI.
Employer contributes 3.25% of the gross salary towards ESI.
Now, let's calculate the deductions based on your gross salary of ₹13,500:
Provident Fund (PF):
Employee Contribution: 12% of ₹13,500 = ₹1,620
Employer Contribution: 12% of ₹13,500 = ₹1,620
Employee State Insurance (ESI):
Employee Contribution: 0.75% of ₹13,500 = ₹101.25
Employer Contribution: 3.25% of ₹13,500 = ₹438.75
So, the total deductions for PF and ESI would be:
Employee PF Contribution: ₹1,620
Employee ESI Contribution: ₹101.25
The net salary credited to you after these deductions would be your gross salary minus the total PF and ESI contributions:
13,500 − (1,620 + 101.25) = ₹ 11,778.75
It seems there might be a slight discrepancy in your case, as you mentioned your net salary is credited as ₹11,705. This could be due to other deductions or allowances specific to your employment or the company's policies. Please check with your HR department for a detailed breakdown of your salary.