hai firends , can you tell men about new amendment in ESI and PF Ceiling point of ESI?
From India, Pune
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2From India, Pune
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Hi,
I believe that until there is a change in the limit of PF and ESI, the following applies:
ESI Ceiling: 10,000 (Gross salary)
ESI contribution: 1.75% from the employee side and 4.75% from the employer side of the total salary.
EPF contribution: 12% from both sides or 12% from the employer side and a minimum of Rs. 780 from the employee side (12% of Rs. 6,500 basic salary).
From India, Jaipur
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I believe that until there is a change in the limit of PF and ESI, the following applies:
ESI Ceiling: 10,000 (Gross salary)
ESI contribution: 1.75% from the employee side and 4.75% from the employer side of the total salary.
EPF contribution: 12% from both sides or 12% from the employer side and a minimum of Rs. 780 from the employee side (12% of Rs. 6,500 basic salary).
From India, Jaipur
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as of now there is no such notifications in AP. Is it vary from state to state??????? Ram L&T
From India, Visakhapatnam
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From India, Visakhapatnam
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MR. ALONE WHAT DO YOU MEAN BY MANIMUM HERE IS IT RIGHT? EPF contribution: 12% from both the side or 12% from employer side and minimum 780 Rs. from the employee side (12% of Rs.6500 basic salary).
From India, Gurgaon
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From India, Gurgaon
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The ESI limit is going to be hiked to 15,000 and PF to 12,000. For PF, the bill is about to be introduced in Parliament. Another important amendment that is going to happen in ESI is related to the workplace. Coming back from the workplace to home is also going to be counted as workplace. This means that if anything happens during the to and fro journey to the workplace and home, it will be treated as a workplace accident.
From India, Kochi
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From India, Kochi
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Dear Mr. Vikas As per the law Rs.780 or 12% of the basic salary whichever is minimum should be deducted from the salary as the EPF contribution from the employee side only. Deepika (Ms. Alone)
From India, Jaipur
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From India, Jaipur
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dear praveen esi limit raised to 15000 from 01 may 2010.gazette notification alreayd given pf limit is still 6500 going to be raised to 12000
From India, Kochi
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From India, Kochi
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hi.. Ms Alone could you tell me that 780/- is maximum amount.?.if amount will be exceed then pf will be not deductable...?
From India, Gurgaon
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From India, Gurgaon
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Ms Alone.
Pf can be deducted more than 780/- but its depends on employee that whether he does want to deduct his pf more than 780/- or not…& same is applicable for the employer that is he ready to submitted the same amount?.
But in that case calculation will be little bit changed..
The amount in family pension fund which is 8.33% can't be exeed more than Rs 541 and remain amount will be deposited in pf fund scheme which is 3.67 %
This type of deduction called by Voluntary Deduction.
From India, Gurgaon
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Pf can be deducted more than 780/- but its depends on employee that whether he does want to deduct his pf more than 780/- or not…& same is applicable for the employer that is he ready to submitted the same amount?.
But in that case calculation will be little bit changed..
The amount in family pension fund which is 8.33% can't be exeed more than Rs 541 and remain amount will be deposited in pf fund scheme which is 3.67 %
This type of deduction called by Voluntary Deduction.
From India, Gurgaon
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Hi Deepika
(Ms Alone)
Pf can be deducted more than 780/- but its depends on employee that whether he does want to deduct his pf more than 780/- or not…& same is applicable for the employer that is he ready to submitted the same amount?.
But in that case calculation will be little bit changed..
The amount in family pension fund which is 8.33% can't be exeed more than Rs 541 and remain amount will be deposited in pf fund scheme which is 3.67 %
This type of deduction called by Voluntary Deduction.
From India, Gurgaon
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(Ms Alone)
Pf can be deducted more than 780/- but its depends on employee that whether he does want to deduct his pf more than 780/- or not…& same is applicable for the employer that is he ready to submitted the same amount?.
But in that case calculation will be little bit changed..
The amount in family pension fund which is 8.33% can't be exeed more than Rs 541 and remain amount will be deposited in pf fund scheme which is 3.67 %
This type of deduction called by Voluntary Deduction.
From India, Gurgaon
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Hi, Deepika.
The present upper limit for PF is Rs. 6,500. So, the 12 percent of Rs. 6,500 is Rs. 780. The employee pays Rs. 780, and the employer also puts in Rs. 780. Out of the contribution paid by the employer (out of Rs. 780), Rs. 541 goes to EPS, which is the pension scheme, and Rs. 239 goes to the individual's PF account.
Now, if your basic plus DA is more than Rs. 6,500, you cannot be forced to join EPF. Furthermore, you can increase your contribution, which means you can contribute more than 12 percent of your basic and DA, but the employer need not match that. It is up to the employer. If the employer matches the increased contribution, that amount minus Rs. 541 goes into your PF account.
Whereas your company has opted for a full 8.33 percent contribution to EPS, out of the contribution given by the employer, the full 8.33 percent will be credited to the EPS. For example, if your basic plus DA is Rs. 10,000, your contribution is Rs. 1,200 and the employer's contribution is Rs. 1,200. Out of the employer's Rs. 1,200, an amount of Rs. 833 will be credited to the EPS account, and the rest to your PF account.
In this case, when you retire, your average salary of the last 10 months will be taken into account for calculating your PF pension. Whereas, where the limit is Rs. 6,500, your last salary is considered only Rs. 6,500, even if your total salary when you retire is Rs. 100,000.
From India, Kochi
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The present upper limit for PF is Rs. 6,500. So, the 12 percent of Rs. 6,500 is Rs. 780. The employee pays Rs. 780, and the employer also puts in Rs. 780. Out of the contribution paid by the employer (out of Rs. 780), Rs. 541 goes to EPS, which is the pension scheme, and Rs. 239 goes to the individual's PF account.
Now, if your basic plus DA is more than Rs. 6,500, you cannot be forced to join EPF. Furthermore, you can increase your contribution, which means you can contribute more than 12 percent of your basic and DA, but the employer need not match that. It is up to the employer. If the employer matches the increased contribution, that amount minus Rs. 541 goes into your PF account.
Whereas your company has opted for a full 8.33 percent contribution to EPS, out of the contribution given by the employer, the full 8.33 percent will be credited to the EPS. For example, if your basic plus DA is Rs. 10,000, your contribution is Rs. 1,200 and the employer's contribution is Rs. 1,200. Out of the employer's Rs. 1,200, an amount of Rs. 833 will be credited to the EPS account, and the rest to your PF account.
In this case, when you retire, your average salary of the last 10 months will be taken into account for calculating your PF pension. Whereas, where the limit is Rs. 6,500, your last salary is considered only Rs. 6,500, even if your total salary when you retire is Rs. 100,000.
From India, Kochi
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Plz tell me about the ESI & Pf Contribution & new amendments in limit & how many employee are compulsory for mandatory registration in ESI & PF
From India, Dehra Dun
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From India, Dehra Dun
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Hi, I have just received news that in the latest PF amendment (May 2012), PF deduction is from the gross salary (including HRA, medical allowance, travel allowance, special allowance) instead of basic salary + DA. Our company is practicing the same (on gross salary). Could you provide insight into the actual scenario of the PF issue?
Regards,
Divyesh Patel
From India, Surat
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Regards,
Divyesh Patel
From India, Surat
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PF & ESI.zip
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