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What is the full form of ESIC ?whatproportion of
PF,ESIC,EDLi,TDS,BONUS,GRATUITY etc are been decucted from
salary?

Answer Posted / shoaib khan

The full form of ESIC is EMPLOYEES’ STATE INSURANCE SCHEME
OF INDIA.
ESIC : 1.75% of Gross Salary (Employee Share)
4.75% of Gross Salary (Employer Share) .

PF: 12% of Basic+DA (Employee Share)
12% of Basic+DA (Employer Share).

EDLI - 0.5% as deducted with EPF as a/c No 21
deducation.

(e)Gratuity is applicabale after 5 year service and
calculate the same as per formula,
Gratuity - Present salary(Basic +DA+VDA)*15*No of year
served/26.

TDS means Tax dedcuted at sourece,
Total income less deduction U/s 16 and Deduction u/s 80c,
cc and 80D equal taxable income

Is This Answer Correct ?    36 Yes 11 No



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