Dear all, Plz tell me wether i can show employer contribution of esi & pf in salary structure of any employee? I am new in HR and need urgent reply. Plzzzzzz......... Vijay Vyas
From India, Jaipur
From India, Jaipur
hi,
It is optional to show Employer Contribution in PF & ESI but it can be shown seperately
in normal pay slips only deduction part is shown .
In the details of Pay slips if you wish can show otherwise no need .
Regards
sachin
9720103809
From India, Bangalore
It is optional to show Employer Contribution in PF & ESI but it can be shown seperately
in normal pay slips only deduction part is shown .
In the details of Pay slips if you wish can show otherwise no need .
Regards
sachin
9720103809
From India, Bangalore
Base salary comprises:
(1) Basic (50% of Base)
(2) HRA (40% of Basic)
(3) LTA
(4) Transport/ Conveyance Allowance
(5) Misc./ Ad-hoc/ Special Allowance (this is the remaining amount, i.e., a balancing figure) -- you can also add more categories like Dress Allowance, etc., but not mandatory
On top of Base salary, you should have the following statutory pay-outs:
(1) Statutory Bonus (as applicable under the Payment of Bonus Act -- not applicable to everyone)
(2) Medical Allowance (up to Rs.1,250 per month)
(3) PF (@ 12% -- you can show employer's contribution as part of CTC; employee's contribution need not be shown separately, as it is understood that PF gets deducted from their salary)
(4) Gratuity
Hope this helps.
Lexorcist
From United States, Falls Church
(1) Basic (50% of Base)
(2) HRA (40% of Basic)
(3) LTA
(4) Transport/ Conveyance Allowance
(5) Misc./ Ad-hoc/ Special Allowance (this is the remaining amount, i.e., a balancing figure) -- you can also add more categories like Dress Allowance, etc., but not mandatory
On top of Base salary, you should have the following statutory pay-outs:
(1) Statutory Bonus (as applicable under the Payment of Bonus Act -- not applicable to everyone)
(2) Medical Allowance (up to Rs.1,250 per month)
(3) PF (@ 12% -- you can show employer's contribution as part of CTC; employee's contribution need not be shown separately, as it is understood that PF gets deducted from their salary)
(4) Gratuity
Hope this helps.
Lexorcist
From United States, Falls Church
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Creating a Competitive Salary Structure.doc
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