Hi,
I want to know the exact employee and employer contributions in ESIC. For example, if the salary is Rs 9104, what will be the employee contribution? (1.75% of 9104) = 159.32. So, what should we consider... 159 or 160? The employer contribution is (4.75% of 9104) = 432.44. Should we consider 432 or 433? The total contribution is (6.5% of 9104) = 591.76. Should we consider 591 or 592?
Please reply, and how... What is the exact formula for calculating the correct amount? We are facing difficulties due to ESIC online challan generation.
Please assist.
Regards,
Mamta Agrawal
From India, Mumbai
Acknowledge(0)
Amend(0)
2I want to know the exact employee and employer contributions in ESIC. For example, if the salary is Rs 9104, what will be the employee contribution? (1.75% of 9104) = 159.32. So, what should we consider... 159 or 160? The employer contribution is (4.75% of 9104) = 432.44. Should we consider 432 or 433? The total contribution is (6.5% of 9104) = 591.76. Should we consider 591 or 592?
Please reply, and how... What is the exact formula for calculating the correct amount? We are facing difficulties due to ESIC online challan generation.
Please assist.
Regards,
Mamta Agrawal
From India, Mumbai
Acknowledge(0)Amend(0)
Each contribution shall be rounded to the next rupee irrespective of whether it falls below 50 paise or not. Madhu.T.K
From India, Kannur
Acknowledge(0)Amend(0)
From India, Kannur
Acknowledge(0)Amend(0)
you are right sir, but i tried online, there employer contribution calculation was wrong according to you, because it calculate below 50 or above method..
From India, Jaipur
Acknowledge(0)Amend(0)
From India, Jaipur
Acknowledge(0)Amend(0)
We are calculating in a similar manner as mentioned by Bhardwaj below, but after the data is put online, the contribution amount differs as per our Excel calculation and the online calculation by the system. Can anyone help as to how the system calculates the amount? This is creating issues for us to reconcile. Please help.
From Australia
Acknowledge(0)Amend(0)
From Australia
Acknowledge(0)Amend(0)
you are right, even me faced same problem. and even have generated challan now i want to delete it, but they asking approval by ESIC REGIONAL HEAD, then they will do this.
From India, Jaipur
Acknowledge(0)Amend(0)
From India, Jaipur
Acknowledge(0)Amend(0)
You are all correct, but you may notice that when generating the system-generated sheet, the 4.75% ESI Calculation doesn't round up to the next number, causing a difference. It only rounds up in the final amount.
Any suggestions or comments would be greatly appreciated.
Regards,
Dhaneswar
From India, Bangalore
Acknowledge(0)Amend(0)
Any suggestions or comments would be greatly appreciated.
Regards,
Dhaneswar
From India, Bangalore
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.
Online ESIC Adhaar Verifcation.pdf
ESIC Calculation.zip