what is the meaning of salary for calculating ESI & PF of employee.?
- 1 decade agoBest Answer
In India following are considered as salary for calculation of :
ESI : Basic + HRA + DA + Other Allowances + LTA + Conveyance and everything that makes your gross salary not exceeding Rs.10,000/- per month.
PF : Basic + DA only Employees contribution will be 12% of his emoluments.12% of emoluments (basic wages, dearness allowance, cash value of food concession and retaining allowances if any,) in the case of 175 establishments.
Rate of contribution shall be 10% in the case of the following:
Brick, beedi, jute, guar gum factories, coir industry other than spinning sector.
A matching contribution is to be collected from the emoluments of the employees.
Out of 12% (or 10% as the case may be) of the employer’s share of contribution, 8.33% is to be remitted towards pension fund.
Employer is also required to pay a contribution of 0.5% of the emoluments towards EDLIS’1976Source(s): esic.nic.in/coverage.htm for ESIC epfindia.com
- Anonymous4 years ago
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what is the meaning of salary for calculating ESI & PF of employee.?Source(s): meaning salary calculating esi pf employee: https://shortly.im/ZQpla
- 5 years ago
ESI means Employee state insurance,actually its providing a self-financing social security and health insurance scheme for Indian workers
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- troLv 71 decade ago
I don't know what your terms refer to but
in the US when we calculate the Social Security, Medicare and State Disability taxes that are required withholdings it is based on the gross amount of money.
- 4 years ago
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.25000/- per month . It has also been extend-ed upon shops, hotels, restaurants, roads motor transport undertakings, equip-ment maintenance staff in the hospitals.
- Anonymous5 years ago
full form of ESI and meaning of that
- 4 years ago
1.75 of 10000
- 3 years ago