Answer / rameshbabu

HI Frinds,

PF amount will calculate on basic+DA @12% and e,ployer also
pay the same amount.In this employer contribution 3.67%
will goes to PF account rest of amount 8.33% will goes to
pension fund.EPS salary was maximum 6500/-.

ESI calculate on gross salary .ESI amount will deducted
from employee side 1.75% and employer will pay 4.75%.

Answer / nagaraju arruri

THERE ARE SOME ORGANIZATIONS WHO ALLOW THEIR EMPLOYEES TO
SAVE THE MONEY BY INCREASING THE PF CONTRIBUTION OF EMPLOYEE
INTO 12% TO 15%.HERE THE EMPLOYER CONTRIBUTION IS FIXED IN
ALL CASES ie 12%

Answer / tejaswani.m.g

Dear Friends,

PF is calculated on basic salary and it's 12% of basic. If
basic is more than 6500 then also it is deducted 780 is
the maximum limit. It's due to ceiling of 6500/-.

But in some firms 780/- is not limit there is deduction of
exact 12% of basic if basic salary is 11500 then there
is deduction of 1380/-.

And in PF there is contribution from emloyer also.
If PF is deducted 780/- from employee then Employer will
also contribute 780/-. But whole this 780 is not going to
PF account. Out of 12% of employer contribution 8.33% is
contributed for pension scheme and 3.67% for PF.

And ESIC is calculated on gross salary.
If gross salary is more then 10000/- then the employee is
not applicable for ESIC.ESIC is deducted as 1.75% of gross
salary of employee.In ESIC also there is Employer's
contribution and it is 4.75% of gross salary.

Answer / sunil swami

PF will be calculated on Basic salary which should be 6500
or less then it.
and esi will be calculated on gross salary , limit of esi
from 01/05/2010 is Rs.15000
thanks

Answer / sushil choudhary

ESI contribution from Employee side = 1.75% of gross/month.
ESI contribution from Employer side = 4.75% of gross/month.
Total Contribution towards ESI = 6.5%

PF : PF is deducted on Basic Salary i.e. Basic + D.A.
(Dearness Allowances) is Rs. 6,500/- or less above that PF
if not deducted.

Employee - 12% (of basic + D.A. and food concession
allwances and retaining allowance, if any)

Answer / amit kumar

Dear Friends,
PF is calculated on basic salary and it's 12% of basic.And
if basic is more than 6500 then also it is deducted 780 is
the maximum limit.

It's due to ceiling of 6500/-.
But in some firms 780/- is not limit there is deduction of
exact 12% of basic if my basic salary is 11500 then there
is deduction of 1380/- if an employee wants to deduct his
pf more than 780. he can do this.while basic is 11500,but
employer's contribution 8.33 % calculate on 6500.

And in PF there is contribution from emloyer also.
If my PF is deducted 780/-then Employer will also
contribute 780/-.But whole this 780 is not going to PF
account.Out of 12% of employer contribution 8.33% is
contributed for pension scheme and 3.67% for PF.

And ESIC is calculated on gross salary.
If gross salary is more then 10000/- then the employee is
not applicable for ESIC.ESIC is deducted as 1.75% of gross
salary of employee.In ESIC also there is Employer's
contribution and it is 4.75% of gross salary. but now esi
gross limit increase 10000 to 15000 so esi is calculated on
gross limit 15000.

Answer / harsh

1.75% ON GROSS SALARY
12% ON BASIC SALARY

Answer / sk.nasimuddin

My BASIC Salary is 18,000 & My GROSS Salary is 40,000
My LIC Saving Policy 1,50,000 PER Year & My House Rent Paid
on Monthly 7,500.
How much TAX PAYABLE IN THE FINANCIAL YEAR ( 2010-2011).
Please Tell me.

Answer / ujwala

PF IS CALCULATED ON BASIC - 12% on Basic & ESI IS
CALCULATED ON GROSS SALARY.

Answer / bharat singh negi

for esic calculation, its always gross salary including all
remunerations / allowance / perks. The employees whose
Gross salary is less than and equal to Rs 15000/- is liable
for ESIC deduction.... The employee part is Rs 1.75% of
gross and employer part is Rs 4.75% of gross salary....

Dear sir i am a contractor and making a invoice for Rs. 1500000= in which 1200000 for material and 300000 for labour charges how should i make a invoice with material and what will for format of invoice, if i make separate invoice for material and separate for labour charges what service tax and sales tax chaeges will be. and what TDS will party deduct on my bill. pls answer as soon as possible.

2 Answers  

Is banks deduct TDS for my Fixed deposits? if yes what is calculations done per lakh.

2 Answers  

what is tds

6 Answers  

if we are purchase in 4% vat tax than can we deduct tds

12 Answers   Komal Texfab,

Can We pay TDS on 8th without interest if 7th is sunday?

5 Answers  

we are getting materials from outside the state and issuing form c to a local party, since the local party is consignee agent of party who sends the materials. what is name this type of transaction? is issuing form c correct and proper? please reply

0 Answers  

If a nri buys property in india, does he has to pay property tax?

0 Answers  

sub: salary tds 1) will financial year and assessment year apply for salary tds. ie if my employer is deducting tax then will it be for the last year or current year. 2) in case of assessment year,( example 1st april 2009 to 31 march 2010), why it is given as one year does it mean that the total year is meant for assessing and then when shall we pay the tax or file the returns??? 3) in case of assessment year 1st april 2007 to 31 march 2009, when should i stop assessing and start deducting the tax and when should i pay it to it dept

1 Answers   GIC,

Please give Leave encashment formula. Profession Tax & Pf or any other Dedecution deduct on leave encashment or not.

3 Answers  

one supplier/dealer of a Reputed Electric motor manufacturing company of Kolkata having shop in Dhanbad (Jharkhand)carges 10.3% E.D + Education cess + Jharjhand VAT on ordered value whether is it correct? Are dealer are supposed to charge E.D.

1 Answers  

I want to know about the site where i can do online application for F form. Please suggest site address and procedure.

0 Answers  

I DED TDS ON SALARY AND CONTRACTOR WHERE I DEPOSITED THIS AMOUNT WHICH PROCESS I FLOW TO FULL FILL ALL THE MANDATORY

0 Answers