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Esi & pf percentages for fy 12-13

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 October 2012 Hi,

What is the ESI and PF percentages for this FY (12-13)

Thanks in Advance

Sudhiir
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Ashish

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Ashish (Expert)
09 October 2012 ESI - Currently Employee’s contribution rate is 1.75% of the wages and that of employer’s is 4.75% of the wages paid/payable in respect of the employees in every wage period. The process of submitting ESI is now online where you have to only provide Insurance Number, INsured Name & Wages and all the calculation is done by the system itself.
P.F. - The PF contribution is 12% of Basic salary from both employee and employer. For the calculation the maximum limit of Basic is Rs 6500/-. It means even if the employee's basic salary is above Rs 6500/- the employer is liable to contribute only on Rs 6500/-, that is Rs 780.
However if an employee so desires he may voluntarily contribute more than 12%. Apart from it an employer also has to pay some administration charges. I explain you the various accounts of PF challan.

A/c No 1: PF contribution Account
A/c No 2: PF Admin account
A/c No 10: EPS account
A/c No 21: EDLIS account
A/c No 22: EDLIS admin account

PF admin charge = Employer has to pay 1.1 % of basic
EDLIS: Employer has to pay 0.5% of basic
EDLIS admin charge:Employer has to pay 0.01% of basic

Total additional percentage employer has to pay: 1.61% of basic

So employer has actually to pay 13.61 % of Basic and employee has to pay only 12% of basic.

Employees complete 12% goes to PF account while employer contributions' 8.33% goes to Pension fund and 3.67% goes to PF fund.
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