HOW THE ESI & PF CALCULATED IN ORGANIZATION i.e Any formulas or others
From India, Madras
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From India, Madras
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Dear Kumaresan,
I think your query is regarding the contribution.
Regarding ESI, the coverage is up to a total salary of Rs. 15,000. The contribution is 1.75% from the employee and 4.75% from the employer.
For EPF, the ceiling limit on salary (generally basic + DA) is Rs. 6,500. For new employees, PF is mandatory if their salary is within the limit. However, for those who are already enrolled in PF, they have to continue even if their salary exceeds the ceiling limit. The legal obligation is for contribution up to the ceiling limit. However, it is optional to contribute beyond the ceiling limit and to enroll new employees in EPF in case their salary exceeds the ceiling limit.
Contributions to PF:
Employee: 12%
Employer: 12% (EPS + PF)
Out of the employer's contribution, 8.33% subject to a ceiling of Rs. 541 per month will go to EPS, and the rest of the amount to PF.
Administration Charges: 1.1% (by employer)
Contribution to EDLI, which is also a part of EPF:
0.5% by the employer subject to a salary ceiling of Rs. 6,500
Administration Charges: 0.01% subject to a salary ceiling of Rs. 6,500 (by employer)
If the PF & EDLI are run by exempted Trust/Agencies, the above administration charges are not applicable. Instead, inspection charges of 0.18% and 0.005% will be charged, respectively.
Abbas.P.S
From India, Bangalore
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530I think your query is regarding the contribution.
Regarding ESI, the coverage is up to a total salary of Rs. 15,000. The contribution is 1.75% from the employee and 4.75% from the employer.
For EPF, the ceiling limit on salary (generally basic + DA) is Rs. 6,500. For new employees, PF is mandatory if their salary is within the limit. However, for those who are already enrolled in PF, they have to continue even if their salary exceeds the ceiling limit. The legal obligation is for contribution up to the ceiling limit. However, it is optional to contribute beyond the ceiling limit and to enroll new employees in EPF in case their salary exceeds the ceiling limit.
Contributions to PF:
Employee: 12%
Employer: 12% (EPS + PF)
Out of the employer's contribution, 8.33% subject to a ceiling of Rs. 541 per month will go to EPS, and the rest of the amount to PF.
Administration Charges: 1.1% (by employer)
Contribution to EDLI, which is also a part of EPF:
0.5% by the employer subject to a salary ceiling of Rs. 6,500
Administration Charges: 0.01% subject to a salary ceiling of Rs. 6,500 (by employer)
If the PF & EDLI are run by exempted Trust/Agencies, the above administration charges are not applicable. Instead, inspection charges of 0.18% and 0.005% will be charged, respectively.
Abbas.P.S
From India, Bangalore
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Dear Mr.Kumar, Kindly check the attached file regarding the PF and ESIC contribution calculation along with formula. Hope this will solve your issues Regard’s Shaikh
From India, Bhubaneswar
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From India, Bhubaneswar
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I am Ram Chander, currently working in a private company. For the past 9.6 months, I have had a small doubt about PF. How many years is PF going to function? My VDA + basic is 5300 + 1800 = 7100. Can you send me an email regarding my salary of 9000/-?
Regards,
Ram Chander
From India, Hyderabad
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Regards,
Ram Chander
From India, Hyderabad
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Employee Benefits.doc
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