07 May 2011
Hi Mr. Shivashanker my reply may be useful to you.
PF : Provident fund is calculated @ 12% on the basic salary+DA+Food Allowence+Cash Allowence (Upto Rs.6,500/-and above of the limit, Company can decide), which indeed is deducted from Employee's salary and deposit in PF A/c No.1 and the same plus 12% on the basic is contributed by the employer and deposit 3.67% in the A/c No.1 and remaining 8.33% in A/c No.10 of Pension fund (which is calculated on the maximum limit of PF Rs.6500/-). So the aggreate 12% + 12% is remitted to the Provident fund Department
ESI : Employee State Insurance is calculated at 1.75% on the gross salary of the employees whose salary is below Rs. 10000/-permonth (w.e.f 2008) and Employer contributes 4.75% on the gross salary of the employee and the agreegate 1.75% + 4.75% is remitted to the ESI Department
07 May 2011
ESI is contributed from both the sides Employee as well as Employer. It is been calculated on the basis of Gross salary per month and the maximum ceiling is 10000 Rs./Month. The contribution from both the sides is as below-
Employee Side- 1.75% of gross/month So if gross of an employee is 8000/month then ESI contribution would be 8000*1.75% = 140 Rupees
Employer side- 4.75% of gross/month ESI contribution would be 8000* 4.75% = 380 Rupees.
PF is also contributed from both the sides @ 12% of Basic salary only. Out of employer's 12%, 8.33% goes to Pension Fund and rest 3.67% goes to PF fund.
ESIC challans are deposited at every month on or before the 21st of the month, where as return is submitted half yearly along with the copy of challans deposited.
07 May 2011
but how to be deposited the deducted amount in pf or esi a/c is it deposited through of by any challan or by bank how to be filled PF return or ESI return
Pf return send through Form 12 and also enclosed form 5 & 10 in form 12 all the details of pf mentioned accordingly
for Esic Online is required Form 5OF eSIC CHALLAN THAT WILL BE SUBMITED TO SBI BANK ESIC MAXIMUM CEILING FOR NON DEDUCTION IS RS 15000/- NOT 10000/- IF ANY QUERY IS REMAINING SO PLS REPLY
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