Epf & esi
This query is : Resolved
09 August 2011
Dear Sir/Madam,
Can ne1 pl.answer to my below mentioned queries
1.ESI which is deducted from Salary @1.75% from Employee & 4.75% is being contributed by Employer.Now will total 6.50% be deducted from Total Income Computation or 1.75% and 4.75% of employer's Contribution will be shown as Income and then total 6.50% will be deducted.In Form 16 where and under which Section will it be shown.
2. Like ESI, PF also has 2 components, Employee & Employer 12% contribution of both.As we know PF shall come under sec 80C.But then will 24% of EPF be enjoyed or only 12% of Employee's contribution and 12% of Employer's will be shown as Income and then u/s 80C total 24% will be enjoyed.
Thanks & Regards,
Can ne1 pl.answer to my below mentioned queries
1.ESI which is deducted from Salary @1.75% from Employee & 4.75% is being contributed by Employer.Now will total 6.50% be deducted from Total Income Computation or 1.75% and 4.75% of employer's Contribution will be shown as Income and then total 6.50% will be deducted.In Form 16 where and under which Section will it be shown.
2. Like ESI, PF also has 2 components, Employee & Employer 12% contribution of both.As we know PF shall come under sec 80C.But then will 24% of EPF be enjoyed or only 12% of Employee's contribution and 12% of Employer's will be shown as Income and then u/s 80C total 24% will be enjoyed.
Thanks & Regards,
09 August 2011
1. 1.75% is employees contribution, and only this will reflect in form 16,
4.75% is employers contribution and it will get debited from P/L account, ( allowed expenditure)
2. same treatment of PF, what is paid by employee, is part of form 16,
what is paid by employer is allowed expenditure in P/L account
4.75% is employers contribution and it will get debited from P/L account, ( allowed expenditure)
2. same treatment of PF, what is paid by employee, is part of form 16,
what is paid by employer is allowed expenditure in P/L account
11 August 2011
Thank you!But my query was under which section contribution to ESI from my monthly salary will be shown in Form 16.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Opting our of sec 44AD
- LC charges in relation to Asset purchased should be Capitalised ?
- Regarding appeal to GSTAT
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- Value of property in capital gain
- Multiple trade mark
- Transporter Declaration form
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
