Hello Friends, I am specifically interested in understanding the percentage calculations for PF, ESI, PT, and allowances in the payroll process. I am eager to deepen my knowledge of how payroll is calculated. I kindly request your assistance in learning more about this topic.
Best Regards,
Kavitha
From India, Bangalore
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Best Regards,
Kavitha
From India, Bangalore
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PF 12 & on Basic Wages ESI 1.75% on Gross Pay. LTA 4.81 or as Org policy Bonus 12 to 20 %
From United States, Falls Church
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From United States, Falls Church
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Be aware of your company's compensation policy and the pay structure to process payroll. You should also have a little bit of knowledge of leave administration as well as your company's attendance policy to process error-free payroll.
Deductions:
- Provident Fund: Employees' contribution is 12% of Basic Salary and 13.61% from the Employer.
- ESI: Employees' contribution is 1.75% of the gross salary and 4.75% from the employer.
- Professional Tax: It does not have a percentage-wise calculation but follows a slab rate system. It varies from state to state in India. You can refer to the professional tax calculation slab for Andhra Pradesh. PT is deducted based on the gross salary.
- Below 5,000/-: Nil
- 5,001 to 6,000/-: 60/-
- 6,001 to 10,000/-: 80/-
- 10,001 to 15,000/-: 100/-
- 15,001 to 20,000/-: 150/-
- 20,001 & above: 200/-
Thank you.
From India, Hyderabad
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19Deductions:
- Provident Fund: Employees' contribution is 12% of Basic Salary and 13.61% from the Employer.
- ESI: Employees' contribution is 1.75% of the gross salary and 4.75% from the employer.
- Professional Tax: It does not have a percentage-wise calculation but follows a slab rate system. It varies from state to state in India. You can refer to the professional tax calculation slab for Andhra Pradesh. PT is deducted based on the gross salary.
- Below 5,000/-: Nil
- 5,001 to 6,000/-: 60/-
- 6,001 to 10,000/-: 80/-
- 10,001 to 15,000/-: 100/-
- 15,001 to 20,000/-: 150/-
- 20,001 & above: 200/-
Thank you.
From India, Hyderabad
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Dear Kavitha, PF Contibution is 12 % ESI 1.75% ( ceiling limit 15,000/-) P.Tax (Rs.150 and Rs.200) regards, rangarajan
From India, Bangalore
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From India, Bangalore
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Mr. vishwanathalu, Now there is only 2 slabs i.e. 15001 to 20000 and 20000 above. rangarajan
From India, Bangalore
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From India, Bangalore
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Hi Kavitha, as per my knowledge, payroll calculations differ in terms of percentages that we calculate. For PF, it is 12% from the employee's side (on basic + DA). ESI is calculated on the gross salary at a rate of 1.75% from the employee's side. When it comes to PT slabs, they vary significantly based on the gross salary. The maximum slabs are 60, 80, 100, 120, and 200 for those earning above 20,000 in salary.
Thanks for interacting with you.
Regards.
From India, Hyderabad
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Thanks for interacting with you.
Regards.
From India, Hyderabad
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ESI Deduction
ESI Deduction is 1.75% from the Employee Contribution of Earned Salary up to ₹15,000. If it exceeds more than ₹15,000, you should take ₹263 only. If the fixed salary is ₹14,000 and an additional ₹2,000 is earned from OT, the salary will become ₹16,000. However, you should deduct only 1.75% for ₹15,000. For the same amount, the Employer Contribution should be 4.75% and paid to the ESI A/C.
PF Contribution
PF is 12% on Basic from both the Employee and Employer sides.
PT Slab Rate
The PT Slab rate will be ₹150 from ₹10,000 to ₹15,000, and ₹200 above ₹15,000. However, this will not be applicable to Delhi.
Thanks & regards,
Somashekar
HR Executive
Mob [Phone Number Removed For Privacy Reasons]
From India, Bangalore
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ESI Deduction is 1.75% from the Employee Contribution of Earned Salary up to ₹15,000. If it exceeds more than ₹15,000, you should take ₹263 only. If the fixed salary is ₹14,000 and an additional ₹2,000 is earned from OT, the salary will become ₹16,000. However, you should deduct only 1.75% for ₹15,000. For the same amount, the Employer Contribution should be 4.75% and paid to the ESI A/C.
PF Contribution
PF is 12% on Basic from both the Employee and Employer sides.
PT Slab Rate
The PT Slab rate will be ₹150 from ₹10,000 to ₹15,000, and ₹200 above ₹15,000. However, this will not be applicable to Delhi.
Thanks & regards,
Somashekar
HR Executive
Mob [Phone Number Removed For Privacy Reasons]
From India, Bangalore
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I am VP Kaushik, an MBA-HR fresher. I am new here. I would like to learn more about the payroll process, how it is calculated, related forms and laws, and the calculation format in MS Excel.
Regards,
VP Kaushik
From India, Mumbai
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Regards,
VP Kaushik
From India, Mumbai
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current PT slab Income Monthly Professional Tax Less than Rs. 2500 Nil Between Rs. 2500-3500 Rs.60 Between Rs. 3500-5000 Rs.120 Between Rs. 5000-10000 Rs.175 Beyond Rs.10000 Rs.200
From India, Mumbai
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From India, Mumbai
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As per my knowledge, PF is calculated at 12% from the employee's side. PF - 3.67% + EPS - 8.33% + EDLI - 0.5% + EPF admin charge (in case not having trust) + EDLIS admin charges - 0.01%. This is generally calculated on Basic + DA, but some organizations calculate it on the actual basic pay.
Thank you.
Regards
From India, Delhi
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Thank you.
Regards
From India, Delhi
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Salary Sheet & PF PT Calculation & Challan.xls