plz help...
if i have a ctc salary 20000 p.m then possibly what maximum amouny should be deducted from that.. company says dedcutions will be 6300p.m (pf, esic, pt). Is it correct or not ?
Menu
Salary deductions
Replies (2)
Without breakup of consolidated figure, difficult to answer. However,
- PF is deducted @ 12% of basic salary + DA (equal contribution by employer)
- ESIC @ 1.75% of total salary (4.75% contributed by employer)
- PT is state specific (varies from state-to-state).
Considering the usual practice of structuring salary, deduction of Rs.6300 seems to be more unless there are any other deductions.
As i think Your employer is deducting both employee & employer share from your salary:
For PF 20000 @ 12% 2400 Employee Share
For PF 20000 @ 13.61% 2722 Employer Share
For ESI 20000 @ 1.75% 350 Employee Share
For ESI 20000 @ 4.75% 950 Employer Share
Hence Total deduction is Rs 6422.
Recent Topics :
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
Related Topics :
CAclubindia
