Hello, Can anyone tell me What is Employer’s contributions in ESI,PF,Gratuity,Bonus/Ex-Gratia etc.? Regards, Priyanka
From India, Delhi
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2From India, Delhi
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Hi Priyanka,
Find below the details of the same:
1. Employer's contribution in E.S.I is 4.75% per month of Gross/Month, whereas for the employee, it is 1.75% of gross/month.
2. PF contribution from both employees' and employers' sides is 12% of the Basic salary. Out of this 12%, 8.33% goes to the pension fund, and the remaining 3.67% goes to the provident fund only. Additionally, the employer has to pay an extra 0.5% as administrative charges.
3. Bonus is paid at the rate of 8.33% of annual wages or basic salary paid.
I hope the information is now clear to you.
Regards,
Amit Seth
From India, Ahmadabad
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Find below the details of the same:
1. Employer's contribution in E.S.I is 4.75% per month of Gross/Month, whereas for the employee, it is 1.75% of gross/month.
2. PF contribution from both employees' and employers' sides is 12% of the Basic salary. Out of this 12%, 8.33% goes to the pension fund, and the remaining 3.67% goes to the provident fund only. Additionally, the employer has to pay an extra 0.5% as administrative charges.
3. Bonus is paid at the rate of 8.33% of annual wages or basic salary paid.
I hope the information is now clear to you.
Regards,
Amit Seth
From India, Ahmadabad
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sry sir you said that apart from the this the employer has to pay .5% more as Administrative charges. to who? can u tall m bit confused
From India, Delhi
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From India, Delhi
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Additional Points on Employer Contributions
A/c No - 02: 1.1% of Total Wages {Administrative Charges}
A/c No - 21: 0.5% of Total Wages {Employees' Deposit-Linked Insurance Fund}
A/c No - 22: 0.01% of Total Wages {Administrative Charges for Employees' Deposit-Linked Insurance Fund}
Gratuity Calculation
As per the act, if any employee completes 5 years of continuous service, he/she may be eligible for gratuity. The calculations are:
Last basic pay * Number of years in service * (15/26)
From India, Delhi
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A/c No - 02: 1.1% of Total Wages {Administrative Charges}
A/c No - 21: 0.5% of Total Wages {Employees' Deposit-Linked Insurance Fund}
A/c No - 22: 0.01% of Total Wages {Administrative Charges for Employees' Deposit-Linked Insurance Fund}
Gratuity Calculation
As per the act, if any employee completes 5 years of continuous service, he/she may be eligible for gratuity. The calculations are:
Last basic pay * Number of years in service * (15/26)
From India, Delhi
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ESI-PF-Gratuity .xls
Employer-PF-res trict to wages of Rs 6500.pdf
PF & ESI.zip