HI, I WANT A DETAIL KNOWLEDGE OF DEDUCTION OF P.F. , ESIC & PROFESSIONAL TAX.
From India, Mumbai
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From India, Mumbai
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Dear Dilip,
If you search, you will get details in various posts. For your reference, here are a few basic details. PF is contributed at 12% of Basic & DA from both the employee and employer sides. ESIC is deducted at 1.75% of the gross salary per month from the employee and 4.75% of the gross from the employer, with a ceiling of 10,000/- per month only. If one's gross is more than 10,000/-, then they shall be exempted from the ESIC.
Professional tax is deducted from the gross salary, with different ranges for deductions that vary from state to state. For example, in Gujarat, up to 3000 gross salary is exempted from PT, up to 5999/- deducts Rs. 20, up to 8999/- deducts Rs. 80, up to 11999/- attracts 150, and above that attracts 200/- rupees.
Regards,
Amit Seth.
From India, Ahmadabad
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508If you search, you will get details in various posts. For your reference, here are a few basic details. PF is contributed at 12% of Basic & DA from both the employee and employer sides. ESIC is deducted at 1.75% of the gross salary per month from the employee and 4.75% of the gross from the employer, with a ceiling of 10,000/- per month only. If one's gross is more than 10,000/-, then they shall be exempted from the ESIC.
Professional tax is deducted from the gross salary, with different ranges for deductions that vary from state to state. For example, in Gujarat, up to 3000 gross salary is exempted from PT, up to 5999/- deducts Rs. 20, up to 8999/- deducts Rs. 80, up to 11999/- attracts 150, and above that attracts 200/- rupees.
Regards,
Amit Seth.
From India, Ahmadabad
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Dear Deepak,
ESI is deducted from both the sides, the employee as well as the employer. All the employees whose gross salary is below rupees 10,000 per month are covered under ESIC. The calculation is made as follows:
- Employee side = Gross Salary * 1.75%
- Employer Side = Gross Salary * 4.75%
- Total = 6.5%
PF contribution is made equally from both sides, the employee and the employer, at 12% of the Basic salary. Out of the 12% of the employer's contribution, 8.33% goes to the Pension Fund, and the remaining 3.67% goes to the Provident Fund.
Therefore, the total contribution in the Provident Fund is 12% + 3.67% = 15.67%, and in the Pension Fund, it is 8.33%.
Regards,
Amit Seth
From India, Ahmadabad
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ESI is deducted from both the sides, the employee as well as the employer. All the employees whose gross salary is below rupees 10,000 per month are covered under ESIC. The calculation is made as follows:
- Employee side = Gross Salary * 1.75%
- Employer Side = Gross Salary * 4.75%
- Total = 6.5%
PF contribution is made equally from both sides, the employee and the employer, at 12% of the Basic salary. Out of the 12% of the employer's contribution, 8.33% goes to the Pension Fund, and the remaining 3.67% goes to the Provident Fund.
Therefore, the total contribution in the Provident Fund is 12% + 3.67% = 15.67%, and in the Pension Fund, it is 8.33%.
Regards,
Amit Seth
From India, Ahmadabad
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Can Any one pls share with me the PF yearly return date and all related form of PF & also want esic half yearly return due date and form of correspondance. Thanks & Regards Vaibhav
From India, Pune
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From India, Pune
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i just want to clarify Mr.amith seth description, the ESI is applicable to the people who’s gross salary is below 15,000/month.
From India, Hyderabad
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From India, Hyderabad
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PT,ESIC,TDS,FBT ,S[1][1].Tax Calculator.xls