Whether the ESI & PF will be calculated on total emoluments and sum paid to employee be after all statutory obligations?
eg. Rs. 16,718/- is total salary inclusive of VDA.
now net salary to be paid to him is how much in Karnataka at present ?
From India
eg. Rs. 16,718/- is total salary inclusive of VDA.
now net salary to be paid to him is how much in Karnataka at present ?
From India
Dear Mr Nagesh, ESI is applicable on Gross Salary earned.EPF is applicable on Basic +VDA/DA Earned.Net Salary means amount Paid after all deductions.
From India, New Delhi
606From India, New Delhi
Hi Nagesh,
When you total up Gross salary the deductions there from will be:
1. Professional tax, if applicable
2. Epf contribution @ 12% limiting the 'salary' upto Rs.15000 or less;
3. Any other permissible deductions like LIC premium, EPS contribution towards Pension A/c.
4. Employees' Union subscription, if any
5. Employees Coop Society's dues, if any
Then you get the Net Pay payable (Take home pay) which has to be remitted to their bank a/cs.
From India, Bangalore
When you total up Gross salary the deductions there from will be:
1. Professional tax, if applicable
2. Epf contribution @ 12% limiting the 'salary' upto Rs.15000 or less;
3. Any other permissible deductions like LIC premium, EPS contribution towards Pension A/c.
4. Employees' Union subscription, if any
5. Employees Coop Society's dues, if any
Then you get the Net Pay payable (Take home pay) which has to be remitted to their bank a/cs.
From India, Bangalore
Dear Mr Kumar,
Pl refer to your reply under Sl No 3. Any other permissible deductions like LIC premium, EPS contribution towards Pension A/c.
Out of Employer share of EPF-8.33% is remitted in EPS Fund.Consequently, the same (Employer share of Contribution to EPF & EPS) will not be reflected under Deductions in Employee Salary.
For your information
From India, New Delhi
Pl refer to your reply under Sl No 3. Any other permissible deductions like LIC premium, EPS contribution towards Pension A/c.
Out of Employer share of EPF-8.33% is remitted in EPS Fund.Consequently, the same (Employer share of Contribution to EPF & EPS) will not be reflected under Deductions in Employee Salary.
For your information
From India, New Delhi
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
Karnataka Minimum Wages For The Year 2022-23 Final.pdf