Hi, Please find the attachment of PF,ESI,PT,TDS,FBT calculator.... Hope this will be useful to you....... Regards Prasad
From India, Bangalore
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7From India, Bangalore
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Dear Prasad,
First of all, thank you very much for the file format. But is this file prepared as per the rules and regulations in Maharashtra? Because the slabs of PTax in Maharashtra are as follows:
- Rs. 2500 - P Tax is NIL
- Rs. 2500 - Rs. 3500 - Rs. 60
- Rs. 3500 - Rs. 5000 - Rs. 120
- Rs. 5000 - Rs. 10000 - Rs. 175
- Rs. 10000 & above P Tax is Rs. 200 per month except for February
- Rs. 300 in the month of February (Maximum of Rs. 2500 per annum)
Can you work it out for Maharashtra, PF, and all?
From India, Pune
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First of all, thank you very much for the file format. But is this file prepared as per the rules and regulations in Maharashtra? Because the slabs of PTax in Maharashtra are as follows:
- Rs. 2500 - P Tax is NIL
- Rs. 2500 - Rs. 3500 - Rs. 60
- Rs. 3500 - Rs. 5000 - Rs. 120
- Rs. 5000 - Rs. 10000 - Rs. 175
- Rs. 10000 & above P Tax is Rs. 200 per month except for February
- Rs. 300 in the month of February (Maximum of Rs. 2500 per annum)
Can you work it out for Maharashtra, PF, and all?
From India, Pune
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Good effort, Mr. Prasad,
I have gone through the calculator, but it has some confusing statements due to changes or amendments in laws/policies.
For example:
1. In the PF calculator, you have mentioned that 8.33% goes to the PENSION Fund and 3.67% goes to the PF Fund from the employee's contribution, which actually comes from the employer's contribution.
[Employee: 12% (P.F)
Employer: 3.67% Provident Fund (A/c 1) + 8.33% Pension (A/c 10) + 1.10% Admin Charges on PF (A/c 2) + 0.50% EDLI (A/c 21) + 0.01% Admin Charges on EDLI (A/c 22) => 13.61% on basic]
2. The Service Tax has been revised to 10% instead of 12%, while the education cess and higher secondary cess remain the same.
3. It's not clear for which state the Professional Tax (PT) is being calculated. In Madhya Pradesh (MP), there are fixed slabs for the same:
- 120,000-150,000: 1,000/year or 83/month (any difference adjusted in the last deduction)
- 150,000-180,000: 1,500/year or 125/month
- > 180,000: 2,500/year or 212/month
However, the formulae used in the calculator are different.
The rest of the calculator is okay. Yes, the checklist is really useful.
Regards,
VK
From India, Indore
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I have gone through the calculator, but it has some confusing statements due to changes or amendments in laws/policies.
For example:
1. In the PF calculator, you have mentioned that 8.33% goes to the PENSION Fund and 3.67% goes to the PF Fund from the employee's contribution, which actually comes from the employer's contribution.
[Employee: 12% (P.F)
Employer: 3.67% Provident Fund (A/c 1) + 8.33% Pension (A/c 10) + 1.10% Admin Charges on PF (A/c 2) + 0.50% EDLI (A/c 21) + 0.01% Admin Charges on EDLI (A/c 22) => 13.61% on basic]
2. The Service Tax has been revised to 10% instead of 12%, while the education cess and higher secondary cess remain the same.
3. It's not clear for which state the Professional Tax (PT) is being calculated. In Madhya Pradesh (MP), there are fixed slabs for the same:
- 120,000-150,000: 1,000/year or 83/month (any difference adjusted in the last deduction)
- 150,000-180,000: 1,500/year or 125/month
- > 180,000: 2,500/year or 212/month
However, the formulae used in the calculator are different.
The rest of the calculator is okay. Yes, the checklist is really useful.
Regards,
VK
From India, Indore
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(Fact Checked)-Great insights, VK! Your clarification on PF contributions is accurate. For Service Tax, it's indeed 10% now, and PT calculations vary by state. Your attention to detail is commendable. Keep up the good work! (1 Acknowledge point)
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Please send me this PF, ESI, PT, TDS, FBT calculator.
The following mentioned company employee salary how to be considered and at what percentage rate:
Basic, HRA, Misc. Allowance, Medical Allowance, Conveyance Allowance, Education Allowance, Conveyance Reimbursement, Other, Arrears, Bonus, LTA.
From India, Bangalore
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The following mentioned company employee salary how to be considered and at what percentage rate:
Basic, HRA, Misc. Allowance, Medical Allowance, Conveyance Allowance, Education Allowance, Conveyance Reimbursement, Other, Arrears, Bonus, LTA.
From India, Bangalore
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(Fact Checked)-The information provided is relevant. It is essential to consider the mentioned components like Basic, HRA, Misc. Allowance, Medical Allowance, Conveyance Allowance, Education Allowance, Conveyance Reimbursement, Other, Arrears, Bonus, and LTA for accurate calculations. (1 Acknowledge point)
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Hi Prasad, could you explain me on Basic salary of the employer, what amount is to be incorporated or is that basic salary of the employee and employer been the same Regards Ravi
From India, Hyderabad
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From India, Hyderabad
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Hi,
It's a very helpful calculator. I was going through the PF calculator. Why have you divided two columns of basic salary for the employee and employer? I have a question about the condition of $6500 as the basic salary. Can you explain that?
From India, Bangalore
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It's a very helpful calculator. I was going through the PF calculator. Why have you divided two columns of basic salary for the employee and employer? I have a question about the condition of $6500 as the basic salary. Can you explain that?
From India, Bangalore
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(Fact Checked)-The columns for basic salary for employee and employer in the PF calculator are to differentiate between the contributions made by each party. The condition of ₹6,500 as basic salary is a threshold for PF eligibility. (1 Acknowledge point)
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Please note that there is a minor mistake in the ESI calculation sheet which shows 'admin charges' but this not applicable in ESI
From India, Noida
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From India, Noida
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(Fact Checked)-The user reply is correct. It is accurate that 'admin charges' are not applicable in ESI calculations. (1 Acknowledge point)
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Hi Durga,
The calculation index for PF, ESI, and TDS, etc., is really nice and helpful. Moreover, it is all consolidated in one Excel sheet. I have been getting inputs from different sources, but most of them were a bit confusing. Yours is the best!
Cheers,
Amit
From India, Lucknow
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The calculation index for PF, ESI, and TDS, etc., is really nice and helpful. Moreover, it is all consolidated in one Excel sheet. I have been getting inputs from different sources, but most of them were a bit confusing. Yours is the best!
Cheers,
Amit
From India, Lucknow
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I have worked in M/s Parakh Enterprises, a sister consultant of Ralon Industries Pvt Ltd in Bhopal. I have left my service, and to date, I have not received my PF amount. My PF number is PN/6094/1448. Can you send me the status of my application.
From India, Pune
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From India, Pune
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(Fact Checked)-The PF amount status can be checked through the EPFO portal using your PF number. Ensure to verify the details directly for accuracy. Thank you for sharing your concern. (1 Acknowledge point)
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Dear All, Can anybody tell me, is there any salary limit in contract labour Act. What I know it is below Rs 1600/- pm. Goutam Kr Tapedar
From India, Vijayawada
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From India, Vijayawada
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Need some information on PF calculation on below points 1) PF is calculated 12% on basic but is this fixed also of Rs 780? 2) Pf is calculated on Basic * spl. Allowant if both total is below 6500?
From India, Mumbai
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From India, Mumbai
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let me remind u tht PT slab is changed from 1st July 09 also FBT is nw nt deducted. so kindly make the necessary changes in the attachment & use it.
From India, Mumbai
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From India, Mumbai
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(Fact Checked)-The information you provided about the PT slab change from 1st July 09 and the discontinuation of FBT is accurate. Please proceed with the necessary updates. Thank you for staying informed and proactive in ensuring the attachment remains relevant. (1 Acknowledge point)
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Hello, everyone.
Please send me the complete formula for calculating salary. For example, I just want to give a net salary of 60,000 per month to my employee. How do I calculate all the taxes? And how do I generate the salary?
Thank you.
Regards,
Sanjay Pansuriya
From India, Ahmadabad
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Please send me the complete formula for calculating salary. For example, I just want to give a net salary of 60,000 per month to my employee. How do I calculate all the taxes? And how do I generate the salary?
Thank you.
Regards,
Sanjay Pansuriya
From India, Ahmadabad
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Hi Prasad,
The calculator that you sent is useful. Could you please assist me in designing an offer letter with new tax details? This would be beneficial for me in revising offer letters for employees with tax exemptions or eligibility criteria.
Kind Regards,
Preetha
HR Associate
From India, Madras
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The calculator that you sent is useful. Could you please assist me in designing an offer letter with new tax details? This would be beneficial for me in revising offer letters for employees with tax exemptions or eligibility criteria.
Kind Regards,
Preetha
HR Associate
From India, Madras
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PT,ESIC,TDS,FBT ,S[1][1][1].Tax Calculator.xls
ESI & PF Calculations.do c
CiteHR.AI
(Fact Checked)-The user's reply is correct regarding the professional tax slabs in Maharashtra. The information provided aligns with the latest regulations in the state. (1 Acknowledge point)