hai i need to know the interest rates of pf , esi and the maximum salary eligible to get the pf and esi.
From India, Bangalore
Acknowledge(0)
Amend(0)
From India, Bangalore
Acknowledge(0)Amend(0)
Hi,
The interest rate was fixed at 8.5% per annum for the financial year 2006-2007, but for the current year, i.e., 2007-2008, it's yet to be fixed. If your employees are drawing a salary above Rs. 10,000 per month, they must be registered under the ESI Act, 1948. For your employees whose basic pay is less than or equal to Rs. 6,500 per month, they must be registered under the EPF & MP Act. The basic pay is usually 45-50% of the gross salary.
Warm regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
Acknowledge(0)Amend(0)
141The interest rate was fixed at 8.5% per annum for the financial year 2006-2007, but for the current year, i.e., 2007-2008, it's yet to be fixed. If your employees are drawing a salary above Rs. 10,000 per month, they must be registered under the ESI Act, 1948. For your employees whose basic pay is less than or equal to Rs. 6,500 per month, they must be registered under the EPF & MP Act. The basic pay is usually 45-50% of the gross salary.
Warm regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
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.
Circular on PF Damage & Interest Calculations.pd f
PF & ESI.zip