Hi,
Please help me with the deduction of ESIC at 1.75% on wages. Actually, as per ESIC rules, if the gross wages are above 15k, ESIC shouldn't be deducted. If the wages are less than 15k, then ESIC should be deducted, but there is also a condition to consider. If some employees receive an increment in May, increasing their salary from 13k to 16k, ESIC should not be deducted. However, I consulted with someone who mentioned that ESIC should be deducted for the person because we deducted ESIC in April but not in May. Please share your thoughts and suggest a formula that would be suitable for handling this condition in Excel.
Regards,
MK
9887114764
From India, Delhi
Acknowledge(0)
Amend(0)
1Please help me with the deduction of ESIC at 1.75% on wages. Actually, as per ESIC rules, if the gross wages are above 15k, ESIC shouldn't be deducted. If the wages are less than 15k, then ESIC should be deducted, but there is also a condition to consider. If some employees receive an increment in May, increasing their salary from 13k to 16k, ESIC should not be deducted. However, I consulted with someone who mentioned that ESIC should be deducted for the person because we deducted ESIC in April but not in May. Please share your thoughts and suggest a formula that would be suitable for handling this condition in Excel.
Regards,
MK
9887114764
From India, Delhi
Acknowledge(0)Amend(0)
Hi,
If the increment took place between Apr.-Sept. or Oct.-Mar., then the deduction of ESIC on salary will be compulsory up to Rs. 15,000/- instead of Rs. 16,000/- After the end of the above-mentioned period, the deduction will have to be stopped.
Thanks & regards,
Sumit
From India, Ghaziabad
Acknowledge(0)Amend(0)
If the increment took place between Apr.-Sept. or Oct.-Mar., then the deduction of ESIC on salary will be compulsory up to Rs. 15,000/- instead of Rs. 16,000/- After the end of the above-mentioned period, the deduction will have to be stopped.
Thanks & regards,
Sumit
From India, Ghaziabad
Acknowledge(0)Amend(0)Gathering data for an AI comment.... Sending emails to relevant members...
Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
ESIC Formula.xls
Bombay Anand Bhavan Restaurant-vs- ESIC SC 2-09-2009.pdf
ESIC Amendment.doc