Hi seniors,
I need your help regarding the calculation of wages for ESI and EPF. Let's assume Mr. X's monthly salary is 6000 PM, including basic plus DA for PF purposes. However, in the month of December, Mr. X took one leave (LOP). Please clarify how the wages for LOP will be calculated, whether it will be 6000/31*1, 6000/30*1, or 6000/26*1.
Also, please clarify if the same formula will be applicable in the case of ESI.
Regards,
Rachna Mittal
From India, Agra
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I need your help regarding the calculation of wages for ESI and EPF. Let's assume Mr. X's monthly salary is 6000 PM, including basic plus DA for PF purposes. However, in the month of December, Mr. X took one leave (LOP). Please clarify how the wages for LOP will be calculated, whether it will be 6000/31*1, 6000/30*1, or 6000/26*1.
Also, please clarify if the same formula will be applicable in the case of ESI.
Regards,
Rachna Mittal
From India, Agra
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Depends on company policy, if Sunday is a paid weekly leave, then 30 (in salary calculation, it's always calendar days). However, where wages are paid on daily wages, on a no work, no pay basis, the 26 days or 25 days formula is applied (mostly in the case of factory workers).
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Sir,
We are paying wages to workers on a monthly basis; however, Sunday is the paid weekly off. Please clarify in this scenario whether wages, say 6000 PM, shall be divided by 30 days or 26 days.
i.e. 6000/30 days * 1 (LOP) or 6000/26 days * 1 (LOP).
Please clarify....
From India, Agra
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We are paying wages to workers on a monthly basis; however, Sunday is the paid weekly off. Please clarify in this scenario whether wages, say 6000 PM, shall be divided by 30 days or 26 days.
i.e. 6000/30 days * 1 (LOP) or 6000/26 days * 1 (LOP).
Please clarify....
From India, Agra
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For all the working days or worked days the pf to be Paid. However the standard policy is followed as per PF authority.For calculating the month it is excluding the weekly off always.
From India, Vadodara
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From India, Vadodara
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Wage-ceiling-ep f-6500-15000-ci rcular-circular .pdf
ESI & EPF REGISTRTION DOCUMENT.doc