kindly help me how to calculate the TDS,PF,ESI,professional tax whether on gross salary or net salary what will be the slabs percentage for TDS,PF,ESI,professional tax from from salary o to 10 LPA.
From India
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4From India
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kindly help me how to calculate the TDS,PF,ESI,professional tax whether on gross salary or net salary what will be the slabs percentage for TDS,PF,ESI,professional tax from from salary o to 10 LPA.
From India, Ahmadabad
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From India, Ahmadabad
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Hi,
ESI is applicable only for those employees whose gross salary is up to 10,000/- rupees per month, and it's calculated at 1.75% of gross salary from the employee's side and 4.75% of the same from the employer's side.
PF is calculated on basic salary + Dearness allowance only. It is calculated at 12% of basic salary from both sides. Out of the employer's 12% contribution, only 3.67% goes to PF, and the rest goes to the Pension Fund. The maximum ceiling to be covered under this Act is 6,500/- basic salary. Even employees earning more can also be included.
Professional Tax is calculated on gross per month, and it's fixed for a level. For employees who are earning up to 6,000/-, the deduction would be 20/- rupees, but it varies from state to state.
Regards, Amit Seth.
From India, Ahmadabad
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ESI is applicable only for those employees whose gross salary is up to 10,000/- rupees per month, and it's calculated at 1.75% of gross salary from the employee's side and 4.75% of the same from the employer's side.
PF is calculated on basic salary + Dearness allowance only. It is calculated at 12% of basic salary from both sides. Out of the employer's 12% contribution, only 3.67% goes to PF, and the rest goes to the Pension Fund. The maximum ceiling to be covered under this Act is 6,500/- basic salary. Even employees earning more can also be included.
Professional Tax is calculated on gross per month, and it's fixed for a level. For employees who are earning up to 6,000/-, the deduction would be 20/- rupees, but it varies from state to state.
Regards, Amit Seth.
From India, Ahmadabad
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Hello,
I have one more query in this regard. As mentioned, ESI is applicable up to a gross salary of Rs. 10,000. I wanted to know whether employees earning more than that amount are not to be included in ESI.
Thanks,
Rachana
From India, Ahmadabad
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I have one more query in this regard. As mentioned, ESI is applicable up to a gross salary of Rs. 10,000. I wanted to know whether employees earning more than that amount are not to be included in ESI.
Thanks,
Rachana
From India, Ahmadabad
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Hi all
Based on below details ESIC to be deducted, Drawing wage upto 10000
To be deemed as wages
· Basic pay
· Dearness allowance
· House rent allowance
· City compensatory allowance
· Overtime wages (but not to be taken into account for determining the coverage of an employee)
· Payment for day of rest
· Production incentive
· Bonus other than statutory bonus
· Night shift allowance
· Heat, Gas & Dust allowance
· Payment for unsubstituted holidays
Regards
Subrahmanyam
From India, Hyderabad
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Based on below details ESIC to be deducted, Drawing wage upto 10000
To be deemed as wages
· Basic pay
· Dearness allowance
· House rent allowance
· City compensatory allowance
· Overtime wages (but not to be taken into account for determining the coverage of an employee)
· Payment for day of rest
· Production incentive
· Bonus other than statutory bonus
· Night shift allowance
· Heat, Gas & Dust allowance
· Payment for unsubstituted holidays
Regards
Subrahmanyam
From India, Hyderabad
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Dear Rachna ESI contribution is applicable only for a salary upto Rs.10,000/- , if salary is greater than Rs. 10,000/-. no ESI deduction is done. Regards Anu
From India, New Delhi
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From India, New Delhi
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Dear Anu,
As you mentioned, we cannot deduct ESI if the salary is more than Rs 10,000. However, I observed that one of the leading pharma companies deducted ESI even when the gross salary was Rs 11,000.
What should be the appropriate course of action in this situation? Is it considered valid?
Thanks,
Rachana
From India, Ahmadabad
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As you mentioned, we cannot deduct ESI if the salary is more than Rs 10,000. However, I observed that one of the leading pharma companies deducted ESI even when the gross salary was Rs 11,000.
What should be the appropriate course of action in this situation? Is it considered valid?
Thanks,
Rachana
From India, Ahmadabad
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To be deemed as wages
· Basic pay
· Dearness allowance
· House rent allowance
· City compensatory allowance
· Overtime wages (but not to be taken into account for determining the coverage of an employee)
· Payment for day of rest
· Production incentive
· Bonus other than statutory bonus
· Night shift allowance
· Heat, Gas & Dust allowance
· Payment for unsubstituted holidays
· Meal/food allowance
· Suspension allowance
· Lay off compensation
· Children education allowance (not being reimbursement for actual tuition fee)
we consider all this while calculating ESI so go through it and find out how this 11000rs come what are things included in this
From India
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· Basic pay
· Dearness allowance
· House rent allowance
· City compensatory allowance
· Overtime wages (but not to be taken into account for determining the coverage of an employee)
· Payment for day of rest
· Production incentive
· Bonus other than statutory bonus
· Night shift allowance
· Heat, Gas & Dust allowance
· Payment for unsubstituted holidays
· Meal/food allowance
· Suspension allowance
· Lay off compensation
· Children education allowance (not being reimbursement for actual tuition fee)
we consider all this while calculating ESI so go through it and find out how this 11000rs come what are things included in this
From India
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Hi Friends, Please see the attachment regarding Salary structure. A complete details & procedures . Regards mahesh K prasad
From India, Mumbai
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From India, Mumbai
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Very true Miss Singh, Gross salary includes all these components and deduction made over the same. Regards, Amit Seth.
From India, Ahmadabad
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From India, Ahmadabad
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Hi Ram, Find the attached Excel sheet..... SLAB can be adjust as per year..................
From United States, Palo Alto
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From United States, Palo Alto
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For profession tax, 0 to 5000 nil 5000to 10000 175, 10000and above 200Rs per month. I think your querry cleared Regards Anil Kumar
From India, Bangalore
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From India, Bangalore
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From India, Bangalore
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From India, Bangalore
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I have forgotten..... Would like to know, whether 'Conveyance Allowance' being part of gross wages are treated as ESI Wages.
From India, Hyderabad
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From India, Hyderabad
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Yes, all the fixed components, if part of the gross salary, will attract ESIC.
Hi Kumud, still, the notification has not been issued from the ESIC regarding the increase in the ceiling from ₹10,000 to ₹15,000 gross salary.
Amit Seth.
From India, Ahmadabad
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Hi Kumud, still, the notification has not been issued from the ESIC regarding the increase in the ceiling from ₹10,000 to ₹15,000 gross salary.
Amit Seth.
From India, Ahmadabad
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ya employee who is getting more than 10000 rs per month is not covered in ESIC scheme means he is exempted
From India, Rajsamand
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From India, Rajsamand
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Now as per the new policy.....the esic amount will be deducted for employees whose salary ranges up-to 15ooo/-
From India, Hyderabad
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From India, Hyderabad
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ESI is applicable on gross salary up to Rs. 15,000/-. Gross salary includes all the components.
EPF is calculated always on basic + DA. Some companies include DA in basic. The employer is liable to contribute his share on Rs. 6,500 only. However, if he wants to contribute on an amount above Rs. 6,500, he can.
Sanjeev
From India, Delhi
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EPF is calculated always on basic + DA. Some companies include DA in basic. The employer is liable to contribute his share on Rs. 6,500 only. However, if he wants to contribute on an amount above Rs. 6,500, he can.
Sanjeev
From India, Delhi
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Dearl All, Greetings!! JUst wanted to share updates as far as ESI is concerned. ESI ceilings has gone up to Rs.15,000.
From India, Pune
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From India, Pune
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dear friend find the details attached below regarding calculation of PT, ESIC,PF.etc.
From India, Nasik
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From India, Nasik
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ESI Limit and Calculation
The ESI limit is ₹15,000, not ₹10,000. The calculation is 1.75% of the gross salary from the employee's side and 4.75% from the employer's side.
Professional Tax (PT)
PT varies from state to state.
Provident Fund (PF) Calculation
PF will be 12% of the Basic salary. You can limit it to ₹780 as per the law. Two portions will be calculated - 12% from the Employee and 12% from the Employer. If any employee is getting a basic salary of more than ₹6,500, they can opt out of PF, but they need to submit Form 11 for the same.
Regards,
Suneel.
From India, Bangalore
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The ESI limit is ₹15,000, not ₹10,000. The calculation is 1.75% of the gross salary from the employee's side and 4.75% from the employer's side.
Professional Tax (PT)
PT varies from state to state.
Provident Fund (PF) Calculation
PF will be 12% of the Basic salary. You can limit it to ₹780 as per the law. Two portions will be calculated - 12% from the Employee and 12% from the Employer. If any employee is getting a basic salary of more than ₹6,500, they can opt out of PF, but they need to submit Form 11 for the same.
Regards,
Suneel.
From India, Bangalore
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ESI & PF CALCULATION.xls
Remittances for Professional Tax, PF and ESI.pdf