Dear All,
Please any one let me know the applicability of PF and ESI on salary in tamil nadu. our ctc components are Basic, HRA , Special Allowance, Conveyance Allowance and Medical Allowance. I exclude the CA , MA and HRA while calculating PF and ESI (Basic wages).. Is this corrct ?
In the recent PF inspection we found that Conveyance Allowance and Medical Allowance were also part of PF Basic wages.
Please share the updates on this clearly....
From India, Chennai
8Please any one let me know the applicability of PF and ESI on salary in tamil nadu. our ctc components are Basic, HRA , Special Allowance, Conveyance Allowance and Medical Allowance. I exclude the CA , MA and HRA while calculating PF and ESI (Basic wages).. Is this corrct ?
In the recent PF inspection we found that Conveyance Allowance and Medical Allowance were also part of PF Basic wages.
Please share the updates on this clearly....
From India, Chennai
1. Sir,all allowances viz.-HRA, special allowance, conveyance allowance and medical allowance, if paid monthly in salary are part of "wages" so far as ESI Act, 1948 is concerned and contribution is payable on such components of wages.
2. For further details you can see the definition of "wages" in above Act.
From India, Noida
2. For further details you can see the definition of "wages" in above Act.
From India, Noida
PF deduct From Basic Amount
and
ESIC deduct on Gross income
PF. = 12% on basic+da, Employee = 12% on basic+da, EDLI = 0.5%
admin charges: 1.10% towards provident fund and for EDLI =0.01%
ESI: = 4.75% and Employee = 1.75%
From India, Shimla
and
ESIC deduct on Gross income
PF. = 12% on basic+da, Employee = 12% on basic+da, EDLI = 0.5%
admin charges: 1.10% towards provident fund and for EDLI =0.01%
ESI: = 4.75% and Employee = 1.75%
From India, Shimla
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PF & ESI CALCULATION SHEET EXAMPLE.xls