Dear Friends,
I want to know the contribution percentage under ESI Act, 1948. Although the earlier contribution rate is 1.75% by employee and 4.75% by the employer and applicable on the employees who are drawing salary upto Rs. 10,000 but recently I read somewhere that certain amendments are made in the ESI Act and now contribution rate is 1 % by employee and 3% by the employer and applicable on the employees who are drawing salary upto Rs. 21,000. Kindly confirm my doubt and tell me which rate of contribution are applicable currently.
CAclubindia
