Can any one tel me how to calculate ESI and is there any limit for Washing allowance & Food Allowance because these are all the components excluding ESI . I need ur help.
From India, Madras
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From India, Madras
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Hi Anand,
Calculation of ESI:
1. ESI (4.75%) = Gross salary - washing allowance.
2. Contribution of Employee on ESI (1.75%) = Gross salary - washing allowance.
3. Washing allowance = 200 Rs.
I am not quite sure if food allowance is taxable or not. 🤔
Bye,
Gayatri
From India, Delhi
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Calculation of ESI:
1. ESI (4.75%) = Gross salary - washing allowance.
2. Contribution of Employee on ESI (1.75%) = Gross salary - washing allowance.
3. Washing allowance = 200 Rs.
I am not quite sure if food allowance is taxable or not. 🤔
Bye,
Gayatri
From India, Delhi
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Total ESI contribution is 6.50% of the Gross Salary. All those employees who are getting Gross salary up to Rs 10,000 per month (Effective from 01 Oct 2006. Earlier the limit was Rs 7,500 per month) have to be covered under ESI. Out of this 6.5%, 1.75% is the employee's share and 4.75% is the employer's share.
The formula is:
Employee's Share - Gross Salary x 1.75/100
Employer's Share - Gross Salary x 4.75/100
Total ESI contribution = Employee's Share + Employer's Share
Note: Gross Salary = All the monthly cash components (Inclusive of incentives). Food allowance varies from company to company.
Thanks,
Kavitha
From India, Maisuru
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The formula is:
Employee's Share - Gross Salary x 1.75/100
Employer's Share - Gross Salary x 4.75/100
Total ESI contribution = Employee's Share + Employer's Share
Note: Gross Salary = All the monthly cash components (Inclusive of incentives). Food allowance varies from company to company.
Thanks,
Kavitha
From India, Maisuru
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To my knowledge, for the calculation of ESI, we have to consider all the components of salary except the washing allowance. The employees' contribution is 1.75%, the employers' contribution is 4.75%, and the total remittance to ESI is 6.50%.
Regards,
S. Achuthanada
From India, Pune
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7Regards,
S. Achuthanada
From India, Pune
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Hi to all, In calculating ESI keep in mind to convert amount to next round (rupee) when amount come in decimal places. Regards
From India, Nagpur
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From India, Nagpur
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ESI Rule 52-Amended-Aver age Wage Limit Increased For Certain Cases Under Exemption From Payment .pdf
ESI-Not-applica ble-on-Conveyan ce-Allowance.do c