Dear Respected Sir/ Madam
I am working in a Ltd company since from the five years, I have some doubts , request to clarify the same at the earliest, my questions are
1) What are the Statutory Deductions from monthly salary (i.e PF,ESI,PT & Etc.) ?
2) How can Calculate Gratuity / Eligibility for Gratuity ?
3) What is the normal percentage of increment on every year ?
Regards,
Murthy
From India, Mumbai
I am working in a Ltd company since from the five years, I have some doubts , request to clarify the same at the earliest, my questions are
1) What are the Statutory Deductions from monthly salary (i.e PF,ESI,PT & Etc.) ?
2) How can Calculate Gratuity / Eligibility for Gratuity ?
3) What is the normal percentage of increment on every year ?
Regards,
Murthy
From India, Mumbai
PF , ESIC, professional tax, employee welfare fund these are the four main statutory deduction components .
1-PF- pf can be deducted 12% of the basic salary.13.61 % should be contributed by the employer.
2)-ESIC- employee who have drawn 15000 and below are mandatory to enroll in esic. In certain areas are not implemented under esic benefits. For these the employer can offer additional option like mediclaim.employee contribution-1.75% of gross salary & employer contribution is 4.75 %
3)-professional tax is applicable only for certain states.
From India, Delhi
21-PF- pf can be deducted 12% of the basic salary.13.61 % should be contributed by the employer.
2)-ESIC- employee who have drawn 15000 and below are mandatory to enroll in esic. In certain areas are not implemented under esic benefits. For these the employer can offer additional option like mediclaim.employee contribution-1.75% of gross salary & employer contribution is 4.75 %
3)-professional tax is applicable only for certain states.
From India, Delhi
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Statutory Compliance of a Industrial or Commercial Unit.xls
Statutory-compl iance.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx