I have opened my company's ESI account. Can anyone please advise me on the actual calculation of ESI deduction? What allowances are exempted from ESI calculation?
Thanks & Regards,
Debasis Roy
From India, Bangalore
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Thanks & Regards,
Debasis Roy
From India, Bangalore
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As regards ESI coverage, there is no exclusion for nomenclature. All allowances are includible for ESI purposes. The nature of the company's is not relevant.
An annual payout will be exempted from ESI (e.g., Diwali bonus, attendance bonus, LTA paid bi-yearly, etc.). Drawing more than Rs. 15,001/- is exempt from the deduction of ESI.
From India, Madras
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9An annual payout will be exempted from ESI (e.g., Diwali bonus, attendance bonus, LTA paid bi-yearly, etc.). Drawing more than Rs. 15,001/- is exempt from the deduction of ESI.
From India, Madras
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ESI deduction.doc
ESI & PF CALCULATION.xls