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How to Calculate the ESI,PF?it is basic Salary or Gross Salary?
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Answer Posted / 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)
| Is This Answer Correct ? | 14 Yes | 2 No |
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Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.
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