Esic calculation 2018-19
This query is : Resolved
Suchita Shivaji More
(Querist)
05 April 2018
what is limit for salary for calculation of ESIC limit?
What is CTC?
Limit for basic salary?
How ESIC calculated?
Do we have deduct PF?
What is CTC?
Limit for basic salary?
How ESIC calculated?
Do we have deduct PF?
KAVIRAJA ADDANGADI
(Expert)
05 April 2018
CTC-Cost to Company total salary package of an employee, used in countries such as India and South Africa. It indicates the total amount of expenses an employer spends on an employee during one year.
Basic Salary Depends on Minimum Wages , Basic can not be paid less than Minimum salary allowed for Zone , Organisation, Applicable State . Normally as per PF act Minimum Basic should not be less than 55% of Gross Pay which should not be less than minimum wages. ESIC is applicable on Gross Salary not exceed Rs.21000/- Limit Employee Contribution 1.75% on Gross Salary and Employer Contribution 4.75% .
If your organisation Covered under PF than you h ave to register for PF and deduct 12% on Basic Salary from Employee Subject ceiling 15000/- Salary and Employer contribution 12% plus 0.65 (admin Chgs) Plus 0.50 (EDLI Benefit Chgs) total 13.15%
Basic Salary Depends on Minimum Wages , Basic can not be paid less than Minimum salary allowed for Zone , Organisation, Applicable State . Normally as per PF act Minimum Basic should not be less than 55% of Gross Pay which should not be less than minimum wages. ESIC is applicable on Gross Salary not exceed Rs.21000/- Limit Employee Contribution 1.75% on Gross Salary and Employer Contribution 4.75% .
If your organisation Covered under PF than you h ave to register for PF and deduct 12% on Basic Salary from Employee Subject ceiling 15000/- Salary and Employer contribution 12% plus 0.65 (admin Chgs) Plus 0.50 (EDLI Benefit Chgs) total 13.15%
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