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Esic calculation

Rohit (student) (53 Points)

11 January 2017

Sir,

What is the meaning of Wages for the purpose of calculation of ESIC ??
Whether Incentive is included in Wages/Salary for the purpose of ESIC calculation ?

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3 Replies

Mukesh Kumar (Accounts Manager) (1466 Points)
Replied 12 January 2017

ESIC DEDUCTION SHOUID BE CALCULATE ON GROSS SALARY AS PER SALARY PAY SLIP

(Guest)

icentive not included in for esic

debora M (BUSINESS DEVELOPMENT MANAGER) (1697 Points)
Replied 30 July 2019

ESI scheme is a contributory fund that enables Indian employees to take advantage of self-financing and healthcare insurance fund contributed by the employee and the employer. The scheme is managed by Employees’ State Insurance Corporation which is a self- financing social security and labor welfare organization. It administers and regulates ESI scheme as per the rules mentioned in the Indian ESI Act of 1948.

ESI is one of the most popular integrated need-based social insurance schemes among employees that protects their interest in uncertain events, such as temporary or permanent physical disability, sickness, maternity, injury during employment, and more.

Incentives are not added to the ESIC calculation