sir, i want to know about how to calculate pf, esic, pt,it etc...
From India, Mumbai
Acknowledge(3)
Amend(0)
3From India, Mumbai
Acknowledge(3)Amend(0)
Please type your query in the box above — TYPE SEARCH QUERY — and then you will see a lot of options on the screen. You can find the solution to your problem.
For example, type (How to Calculate PF), and you will find a lot of good answers.
I hope it will help you.
Regards,
Acknowledge(0)Amend(0)
For example, type (How to Calculate PF), and you will find a lot of good answers.
I hope it will help you.
Regards,
Acknowledge(0)Amend(0)
PF is deducted on the basic salary, i.e., Basic + DA is Rs. 6500/-.
1. Employee – 12% (of Basic + DA & Food concession allowance & retaining allowance, if any)
2. Employer – 13.61% (of Basic + DA & Food concession allowance & retaining allowance, if any)
[13.61% = 3.67% PF + 8.33% Pension Scheme + 1.10% Admin. Charges of PF + 0.5% EDLI + 0.01% Admin Charges of EDLI]
EDLI - Employee Deposit Linked Insurance
EPF Calculation
Here, this PF is normally deducted from the basic & DA (dearness allowance) such that Basic salary is 35% and DA is 15% out of the gross salary.
For example, if the gross salary of a person is Rs. 9000/- p.m:
- Basic - 35% of 9000 = 3150
- DA - 15% of 9000 = 1350
- Total = 4500
Such that the total amount would be deducted at 12% (i.e., PF - 540/-). The maximum ceiling limit of PF is Rs. 6500/-. If the basic + DA exceeds 6500/-, then the contributions are optional. Some companies may have their own policies.
Provident fund is calculated towards the employer's contribution at 13.61%:
1. Employer's Contribution
2. EPF A/c No.1 - 3.67%
3. EPF - Admin Charges - 1.1%
4. Pension Fund A/c No.10 - 8.33%
5. EDLI A/c No.21 - 0.5%
6. EDLI - Admin Charges - 0.01%
ESIC Calculation
In ESIC, it includes the medical benefit for both the employee and employer. It is calculated on the basis of gross pay per month, and the maximum limit is up to Rs. 15000/- p.m.
- Employee side - 1.75%
- Employer side - 4.75%
So, if the gross of an employee is 8000/- p.m, his contribution would be 8000 * 1.75% = 140/-. Employer's contribution would be 8000 * 4.75% = 380/-. Therefore, Net pay = Gross pay - Total deductions.
1. Those who are getting 15000/- gross per month will not be applicable under the ESIC act.
2. 20 eligible employees are required to get registered in ESIC.
3. Eligible employees mean those who are getting gross pay up to 15000/-.
From India, New Delhi
Acknowledge(9)
Amend(0)
1. Employee – 12% (of Basic + DA & Food concession allowance & retaining allowance, if any)
2. Employer – 13.61% (of Basic + DA & Food concession allowance & retaining allowance, if any)
[13.61% = 3.67% PF + 8.33% Pension Scheme + 1.10% Admin. Charges of PF + 0.5% EDLI + 0.01% Admin Charges of EDLI]
EDLI - Employee Deposit Linked Insurance
EPF Calculation
Here, this PF is normally deducted from the basic & DA (dearness allowance) such that Basic salary is 35% and DA is 15% out of the gross salary.
For example, if the gross salary of a person is Rs. 9000/- p.m:
- Basic - 35% of 9000 = 3150
- DA - 15% of 9000 = 1350
- Total = 4500
Such that the total amount would be deducted at 12% (i.e., PF - 540/-). The maximum ceiling limit of PF is Rs. 6500/-. If the basic + DA exceeds 6500/-, then the contributions are optional. Some companies may have their own policies.
Provident fund is calculated towards the employer's contribution at 13.61%:
1. Employer's Contribution
2. EPF A/c No.1 - 3.67%
3. EPF - Admin Charges - 1.1%
4. Pension Fund A/c No.10 - 8.33%
5. EDLI A/c No.21 - 0.5%
6. EDLI - Admin Charges - 0.01%
ESIC Calculation
In ESIC, it includes the medical benefit for both the employee and employer. It is calculated on the basis of gross pay per month, and the maximum limit is up to Rs. 15000/- p.m.
- Employee side - 1.75%
- Employer side - 4.75%
So, if the gross of an employee is 8000/- p.m, his contribution would be 8000 * 1.75% = 140/-. Employer's contribution would be 8000 * 4.75% = 380/-. Therefore, Net pay = Gross pay - Total deductions.
1. Those who are getting 15000/- gross per month will not be applicable under the ESIC act.
2. 20 eligible employees are required to get registered in ESIC.
3. Eligible employees mean those who are getting gross pay up to 15000/-.
From India, New Delhi
Acknowledge(9)+4 more
Amend(0)
Dear Kuldeep ESIC is applicable till Gross Salary 15000 Per Month. It will Also applicable on 15000 PM. Not More then it I am just clarifying it little more.
Acknowledge(0)Amend(0)
Acknowledge(0)Amend(0)
Also i would like to add, that if there is a provision of washing allowance in the salary structure then the washing allowance will get deducted for calculation ESIC.
From India, Pune
Acknowledge(0)Amend(0)
From India, Pune
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Salary Sheet & PF PT Calculation & Challan.xls