As per employees Esi contribution, We will calculate 1.75. Yesterday i will submit the esi in online.1.75% is 24576.72 for total wages 1404384 . But online portal is calculating 24642.00 (additionally Rs 65.28). Any one can explain about this.
From India, Chennai
From India, Chennai
Hi,
You are calculating 1.75% on the total wages while portal calculate 1.75% on individual wages.
Difference could be rounded off figures. Each .01 figures will be rounded off with next rupees.
Rgds/Jitender
From India, New Delhi
68You are calculating 1.75% on the total wages while portal calculate 1.75% on individual wages.
Difference could be rounded off figures. Each .01 figures will be rounded off with next rupees.
Rgds/Jitender
From India, New Delhi
Hii, use =round("GMS Salary" * 1.75% , 0) formula to calculate each employee ESIC amount, then after sum it.
From India, Delhi
From India, Delhi
Greetings Raja,
ESI introduced the concept of rounding up a few years ago. Any contribution, either Employer or Employee contribution is greater than a rupee is rounded up to the next higher rupee, even if it is 5 paise above a rupee it is rounded up to the next higher rupee.
Try the formula =roundup("Gross salary"*1.75%,0) for employee contribution and change it to 4.75% for employer contribution, you will arrive at the figure in the ESI portal.
Please note that you have to compute this way for each employee.
Regards
From India, Madras
ESI introduced the concept of rounding up a few years ago. Any contribution, either Employer or Employee contribution is greater than a rupee is rounded up to the next higher rupee, even if it is 5 paise above a rupee it is rounded up to the next higher rupee.
Try the formula =roundup("Gross salary"*1.75%,0) for employee contribution and change it to 4.75% for employer contribution, you will arrive at the figure in the ESI portal.
Please note that you have to compute this way for each employee.
Regards
From India, Madras
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