Running a private limited
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2012
is PF and ESIC applicable on over time payment??
15 June 2012
Dear Sir/Madam
We have a family business that deals in manufacturing of plush toys in Vashi, Navi Mumbai. I have just joined about 2 years ago and I have come to the understanding that the Accounting and Paperwork of the company is totally out of order. Being from and engineering background I have zero knowledge about taking over and running a private ltd firm. But over the years I have a large understanding of most of the accounting and stocktaking processes.
I am in details help from anyone, who can help me online or offline for running the company properly. The folowing are the fields were I would be requiring assistance.
1. Various Taxes and Government Based Fees that I need to have/check I am already paying them. (VAT/Sales tax/Excise/Cess/Labour Laws/Shop Establishment/etc... if applicable)
2. How to calculate costing of my manufactured products before I can quote to clients and the elements that I need to consider in calculating them.
3. How to calculate various terms like Profit/Loss/Overheads and other applicable to manufacturing
4. Other variable that I may not know about.
Thanking you
Rohan Mehta
We have a family business that deals in manufacturing of plush toys in Vashi, Navi Mumbai. I have just joined about 2 years ago and I have come to the understanding that the Accounting and Paperwork of the company is totally out of order. Being from and engineering background I have zero knowledge about taking over and running a private ltd firm. But over the years I have a large understanding of most of the accounting and stocktaking processes.
I am in details help from anyone, who can help me online or offline for running the company properly. The folowing are the fields were I would be requiring assistance.
1. Various Taxes and Government Based Fees that I need to have/check I am already paying them. (VAT/Sales tax/Excise/Cess/Labour Laws/Shop Establishment/etc... if applicable)
2. How to calculate costing of my manufactured products before I can quote to clients and the elements that I need to consider in calculating them.
3. How to calculate various terms like Profit/Loss/Overheads and other applicable to manufacturing
4. Other variable that I may not know about.
Thanking you
Rohan Mehta
15 June 2012
ESIC IS APPLICABLE ON OVERTIME PAYMENT BUT, PF IS NOT APPLICABLE
15 June 2012
ESIC IS APPLICABLE ON OVERTIME PAYMENT BUT, PF IS NOT APPLICABLE
15 June 2012
PF isn't applicable on the OT paid.
Is the OT paid in cash or shown in the pay slip?
If paid by cash, ESIC isn't applicable on OT
otherwise it is applicable.
Is the OT paid in cash or shown in the pay slip?
If paid by cash, ESIC isn't applicable on OT
otherwise it is applicable.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- Annual return in Gst
- When TDS on GST applied
- 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
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
