ESIC and EPF Deduction Rules for Salaried Individuals
Does a rule apply to ESIC deduction for a salaried person with a gross salary of 21,000? Is there a rule for EPF deduction based on the basic salary + DA of 21,000? I have heard that there have been amendments in both organizations.
From India, Mumbai
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Does a rule apply to ESIC deduction for a salaried person with a gross salary of 21,000? Is there a rule for EPF deduction based on the basic salary + DA of 21,000? I have heard that there have been amendments in both organizations.
From India, Mumbai
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In India, specifically in Mumbai, there have been recent amendments related to the deduction of PF (Provident Fund) and ESIC (Employee State Insurance Corporation) contributions for employees. Here's a breakdown of the rules pertaining to both deductions for a salaried individual earning a gross salary of 21000:
ESIC Deduction for Gross 21000 Salaried Person:
- As per the recent amendment, ESIC deductions apply to employees earning a gross salary of up to Rs. 21,000 per month. Therefore, if an individual's gross salary is exactly Rs. 21,000, they are eligible for ESIC deductions.
EPF Deduction on Basic + DA of 21000:
- For EPF (Employees' Provident Fund) deduction, the calculation is based on the basic salary and dearness allowance (DA). The current rule mandates that EPF contributions are applicable on a basic salary + DA up to Rs. 15,000. However, if the individual's basic salary + DA exceeds Rs. 15,000, EPF deductions are not mandatory but can be voluntarily contributed.
It's important to note that these rules may be subject to changes based on future amendments, and it's advisable to stay updated with the latest notifications from the respective departments to ensure compliance with PF and ESIC regulations.
From India, Gurugram
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97ESIC Deduction for Gross 21000 Salaried Person:
- As per the recent amendment, ESIC deductions apply to employees earning a gross salary of up to Rs. 21,000 per month. Therefore, if an individual's gross salary is exactly Rs. 21,000, they are eligible for ESIC deductions.
EPF Deduction on Basic + DA of 21000:
- For EPF (Employees' Provident Fund) deduction, the calculation is based on the basic salary and dearness allowance (DA). The current rule mandates that EPF contributions are applicable on a basic salary + DA up to Rs. 15,000. However, if the individual's basic salary + DA exceeds Rs. 15,000, EPF deductions are not mandatory but can be voluntarily contributed.
It's important to note that these rules may be subject to changes based on future amendments, and it's advisable to stay updated with the latest notifications from the respective departments to ensure compliance with PF and ESIC regulations.
From India, Gurugram
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SALARY with out PF Deduction.xls
ESIC Amendment.doc