What is ESI PF And payroll and is Use and define any body help me monday is my interview E-mail-sagar.radha@rediffmail.com
From India, Delhi
1From India, Delhi
Dear Friend,
Kindly click on the following link, it will give you some required information,
https://www.citehr.com/download-list.php?query=ESIC
https://www.citehr.com/download-list.php?query=PF+Act
https://www.citehr.com/download-list.php?query=Payroll
Pls let me know was this information useful,,
If not let me try out more & give information,,,,
Regards
Mohamed Sardhar
91 93831 93832
From India, Coimbatore
Hi Sagar,
ESI is contributed from both the sides Employee as well as Employer.
It is been calculated on the basis of Gross salary per month and the maximum ceiling is 10000 Rs./Month.
The contribution from both the sides is as below-
Employee Side- 1.75% of gross/month
So if gross of an employee is 8000/month then
ESI contribution would be 8000*1.75% = 140 Rupees
Employer side- 4.75% of gross/month
ESI contribution would be 8000* 4.75% = 380 Rupees.
Where as PF is contributed @12% of basic salary only from both sides employee as well as employer..
For more details visit below given links..
http://www.epfindia.com
http://www.esic.nic.in
Regards,
Amit Seth.
From India, Ahmadabad
ESI is contributed from both the sides Employee as well as Employer.
It is been calculated on the basis of Gross salary per month and the maximum ceiling is 10000 Rs./Month.
The contribution from both the sides is as below-
Employee Side- 1.75% of gross/month
So if gross of an employee is 8000/month then
ESI contribution would be 8000*1.75% = 140 Rupees
Employer side- 4.75% of gross/month
ESI contribution would be 8000* 4.75% = 380 Rupees.
Where as PF is contributed @12% of basic salary only from both sides employee as well as employer..
For more details visit below given links..
http://www.epfindia.com
http://www.esic.nic.in
Regards,
Amit Seth.
From India, Ahmadabad
Dear Radha
Greetings!
EMPLOYEES’ STATE INSURANCE
Applicability of the Act & Scheme
Is extended in area-wise to factories using power and employing 10 or more persons and to non-power using manufacturing units and establish-ments employing 20 or more person upto Rs.10000/- per month . It has also been extend-ed upon shops, hotels, restaurants, roads motor transport undertakings, equip-ment maintenance staff in the hospitals.
Coverage of employees
Drawing wages
upto Rs.10000/- per month
engaged either directly or thru’ contractor
Rate of Contribution of the wages
Employers’ 4.75%
Employees’ 1.75%
Benefits
To the employees under the Act
Medical, sickness, extended sickness for certain diseases, enhanced sickness, dependents maternity, besides funeral expenses, rehabilitation allowance, medical benefit to insured person and his or her spouse.
==================================================
EMPLOYEES’ PROVIDENT FUNDS & MISC. PROVISIONS ACT, 1952
& THE SCHEMES
Eligibility
Any person who is employed for work of an establishment or employed through contractor in or in connection with the work of an establishment.
Applicability
· Every establishment which is factory engaged in any industry specified in Schedule 1 and in which 20 or more persons are employed.
· Any other establishment employing 20 or more persons which Central Government may, by notification, specify in this behalf.
· Any establishment employing even less than 20 persons can be covered voluntarily u/s 1(4) of the Act.
Payment of Contribution
· The employer shall pay the contribution payable to the EPF, DLI and Employees’ Pension Fund in respect of the member of the Employees’ Pension Fund employed by him directly by or through a contractor.
· It shall be the responsibility of the principal employer to pay the contributions payable to the EPF, DLI and Employees’ Pension Fund by himself in respect of the employees directly employed by him and also in respect of the employees directly employed by him and also in respect of the employees employed by or through a contractor.
Benefits
Employees covered enjoy a benefit of Social Security in the form of an unattachable and unwithdrawable (except in severely restricted circumstances like buying house, marriage/education, etc.) financial nest egg to which employees and employers contribute equally throughout the covered persons’ employment.
This sum is payable normally on retirement or death. Other Benefits include Employees’ Pension Scheme and Employees’ Deposit Linked Insurance Scheme.
================================================== =============
Payroll:
In a company, payroll is the sum of all financial records of salaries, wages, bonuses, and deductions.
[edit] Paycheck
A paycheck is traditionally a paper document issued by an employer to pay an employee for services rendered. While most commonly used in the United States, recently the physical paycheck has been increasingly replaced by electronic direct deposit to bank accounts.
In most countries with a developed wire transfer system, e.g. in Europe, using a physical check for paying wages and salaries has been uncommon for the past several decades. However, vocabulary referring to the figurative "paycheck" does exist in some languages, e.g. German (Gehaltsscheck), partially due to the influence of US popular media but this commonly refers to a payslip or stub rather than an actual check.
Pay slip
A pay stub, paystub, pay slip, pay advice, or sometimes paycheck stub, is a document that an employee receives either as a notice that the direct deposit transaction has gone through, or as part of their paycheck. It will typically detail the gross income and all taxes and any other deductions such as retirement plan contributions, insurances, garnishments, or charitable contributions taken out of the gross amount to arrive at the final net amount of the pay, also including the year to date totals in some circumstances.
Rgds,
John N
From India, Madras
Greetings!
EMPLOYEES’ STATE INSURANCE
Applicability of the Act & Scheme
Is extended in area-wise to factories using power and employing 10 or more persons and to non-power using manufacturing units and establish-ments employing 20 or more person upto Rs.10000/- per month . It has also been extend-ed upon shops, hotels, restaurants, roads motor transport undertakings, equip-ment maintenance staff in the hospitals.
Coverage of employees
Drawing wages
upto Rs.10000/- per month
engaged either directly or thru’ contractor
Rate of Contribution of the wages
Employers’ 4.75%
Employees’ 1.75%
Benefits
To the employees under the Act
Medical, sickness, extended sickness for certain diseases, enhanced sickness, dependents maternity, besides funeral expenses, rehabilitation allowance, medical benefit to insured person and his or her spouse.
==================================================
EMPLOYEES’ PROVIDENT FUNDS & MISC. PROVISIONS ACT, 1952
& THE SCHEMES
Eligibility
Any person who is employed for work of an establishment or employed through contractor in or in connection with the work of an establishment.
Applicability
· Every establishment which is factory engaged in any industry specified in Schedule 1 and in which 20 or more persons are employed.
· Any other establishment employing 20 or more persons which Central Government may, by notification, specify in this behalf.
· Any establishment employing even less than 20 persons can be covered voluntarily u/s 1(4) of the Act.
Payment of Contribution
· The employer shall pay the contribution payable to the EPF, DLI and Employees’ Pension Fund in respect of the member of the Employees’ Pension Fund employed by him directly by or through a contractor.
· It shall be the responsibility of the principal employer to pay the contributions payable to the EPF, DLI and Employees’ Pension Fund by himself in respect of the employees directly employed by him and also in respect of the employees directly employed by him and also in respect of the employees employed by or through a contractor.
Benefits
Employees covered enjoy a benefit of Social Security in the form of an unattachable and unwithdrawable (except in severely restricted circumstances like buying house, marriage/education, etc.) financial nest egg to which employees and employers contribute equally throughout the covered persons’ employment.
This sum is payable normally on retirement or death. Other Benefits include Employees’ Pension Scheme and Employees’ Deposit Linked Insurance Scheme.
================================================== =============
Payroll:
In a company, payroll is the sum of all financial records of salaries, wages, bonuses, and deductions.
[edit] Paycheck
A paycheck is traditionally a paper document issued by an employer to pay an employee for services rendered. While most commonly used in the United States, recently the physical paycheck has been increasingly replaced by electronic direct deposit to bank accounts.
In most countries with a developed wire transfer system, e.g. in Europe, using a physical check for paying wages and salaries has been uncommon for the past several decades. However, vocabulary referring to the figurative "paycheck" does exist in some languages, e.g. German (Gehaltsscheck), partially due to the influence of US popular media but this commonly refers to a payslip or stub rather than an actual check.
Pay slip
A pay stub, paystub, pay slip, pay advice, or sometimes paycheck stub, is a document that an employee receives either as a notice that the direct deposit transaction has gone through, or as part of their paycheck. It will typically detail the gross income and all taxes and any other deductions such as retirement plan contributions, insurances, garnishments, or charitable contributions taken out of the gross amount to arrive at the final net amount of the pay, also including the year to date totals in some circumstances.
Rgds,
John N
From India, Madras
hey amit wat ever u post it is very clear and informative. keep posting............. :lol: :lol: :lol: :lol: Veena.
From India, Hyderabad
From India, Hyderabad
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