Interested to Buy Any Domain ? << Click Here >> for more details...
How to calculate pf, esi, vat, sales tax etc.,
- 61 Answers
- 726888 Views
- Aparna Enterprises, Cap Gemini, Genpact, Gurcharan International, HCL, Pushp Steel, Shriram, TCS, I also Faced
- E-Mail Answers
Answer Posted / v.rajkumar
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
VAT : VAT percentage is 1, 4, 12.5%. It is a tax which is
charged on the basic value of the product by the seller
from the buyer and the same is remitted to the Sales Tax
Departement. for eg if the product value is Rs. 100 and the
tax applicable is 4%, in such case a bill is raised for Rs.
104.
SALES TAX : Same as VAT
| Is This Answer Correct ? | 20 Yes | 4 No |
Post New Answer View All Answers
Dear Experts, Please advice, what are the rate of WCT , and is it differ from individual to companies in case of deduction ( if i am the deducting person)
How to make a bill of software sale with service tax?
What is process CST & Custom Duty Handle in tally Erp 9, with example.
My unit is a manufacturing unit and deals in Auto-parts and registered in Central Excise,Service Tax and Sales Tax. Now,we intend to import machines in the company for sale them in Local market.What procedures we have to follow for the aforesaid purpose?
A Norwegian Company rents some equipment to a customer in India. The Norwegian Company does not have an office in India. The new tax regulations make in mandatory for them to furnish a PAN number without which a with holding tax will be deducted. The Norwegian company will be paying tax on this rental income in Norway. India and Norway have a Double Tax Avoidance Agreement. I wish to know 1) Is it possible for the Norweigian company to avoid the with holding tax in India?
Please advise where to enter Income tax paid to Govt. in tally and on which head account to be created///
WHAT WE HAVE TO IF WE MAKE A BILL 5% CST IN PLACE OF 2% CST AND DIPOSIT THE TAX
what is fillup form when company issue c form
In the Balance sheet of a company you see the following details, Liabilities: Provision for tax - AY 2008-09 RS 200000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 Assets: Advance Tax- AY 2008-09 RS 150000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 On 15-03-2011, the assessment order for AY2008-09 was received and the final tax liability was stated to be RS 250000. Pass the journal entry for the closing of the relevant accounts in the books for the AY 2008-09.
what is excise
how to calculate entry tax interest rate 2011-2012 assessment pending amt. is Rs.32000
What is US Tax Accounts? Can I get any information where from I take full knowledge about US Taxation?
Can you please provide me the present VAT precentages in Andhra pradesh and other states CST persentages with good's wise.
sub hadding no. scrap & Wastage in corrugated box
in a company, if employee contributing To PF equal to employer contribution. can he voluntarily stop his contribution while he is in service with that company?
