Dear Team,
Kindly help me with information regarding whether PF and ESIC are applicable to Tours and Travels Company. If yes, then what is the percentage for PF and ESIC? According to the new ESIC rule, if the salary is below 21K, ESIC is applicable. If there is a hike from 15K to 21K, ESIC is also applicable. What if a new hire's salary is 21K?
Regards,
Prasad Apte
Shri Venus Holidays.
From India, Mumbai
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Kindly help me with information regarding whether PF and ESIC are applicable to Tours and Travels Company. If yes, then what is the percentage for PF and ESIC? According to the new ESIC rule, if the salary is below 21K, ESIC is applicable. If there is a hike from 15K to 21K, ESIC is also applicable. What if a new hire's salary is 21K?
Regards,
Prasad Apte
Shri Venus Holidays.
From India, Mumbai
Acknowledge(0)Amend(0)
Till today, the 21000 limit has not been notified by ESIC. ESIC is 1.75% of the employee's salary + 4.75% of the employer's contribution, totaling 6.5% of the GROSS salary.
EPFO consists of 12% from the employee and 12% from the employer, along with 0.85% for administration (with a minimum of Rs 500), 0.5% for EDLI, and 0.01% for inspection (with a minimum of Rs 200). EPFO deductions are based on Basic + DA (excluding HRA).
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651EPFO consists of 12% from the employee and 12% from the employer, along with 0.85% for administration (with a minimum of Rs 500), 0.5% for EDLI, and 0.01% for inspection (with a minimum of Rs 200). EPFO deductions are based on Basic + DA (excluding HRA).
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Tour & Travel Policy.docx
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