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Now a days all the companies who emplyees 10 or more employees should be covered under EPF ACT
Contributions
Employee Contribution
1) If Employee Basic (Basic means Basic + DA/VDA) is Lesser than 6500 12% on Employee Basic Salary is Mandatory If Employee Basic (Basic means Basic + DA/VDA) is more than 6500 There is option of exemption from PF & If management wishes to cover then employee shall be coverd under EPF Benefit Employee contribution shall be limited upto the basic of 6500 that is Rs 780/(Rs 780/- is 12% on 6500) OR Employee contribution shall be coverd on full basic no ceiling limit (Eg. If employee basic is 10,000/- then 12% on the basic is 1200/-) 1)
Employer Contribution
1) 2) 3)
1) 2) 3)
A) B) C)
Form 10
Form 3A
Form 6
EPF
ributions
Employer Contribution ( Company Contribution)
If Employee Basic (Basic means Basic + DA/VDA) is Lesser than 6500 12% on Basic Salary is Mandatory ( Equal Contribution of employee) If Employee Basic (Basic means Basic + DA/VDA) is more than 6500 If employer decides to cover employee under EPF act then even employer shall contribute Employer contribution shall be limited upto the basic of 6500 that is Rs 780/Same contrbution as of Employee (Rs 780/- is 12% on 6500) OR Employer contribution shall be coverd on full basic no ceiling limit (Eg. If employee basic is 10,000/- then 12% on the basic is 1200/-) Employer contribution shall be splitted into EPF (8.33%) and PF (3.67%) (if Employer contribtuion is above 780/- then 541 will go for Pension fund & balance for EPF) Apart from the contribution there are additional charges from employes 1.10% as Admin charges on total wages of Employee (Ac. No. 2) 0.5% as EDLI Charges on the contribution wages (Ac. No. 21) 0.01% as EDLI Admin Charges on the contribution wages (Ac. No. 22) or Minimum of 5Rs
ESI
Now a days all the companies who emplyees 10 or more employees should be covered under EPF ACT
Contributions
Employee Contribution
1) If Employee Gross Pay is Lesser than or equal to 15000 1.75% on Employee Gross Salary is Mandatory If Employee Gross Pay is above than 15000 he is not eligible for ESI Benefit 1)
Employer Contribution
Form 6
ESI
ributions
Employer Contribution ( Company Contribution)
If Employee Gross Pay is Lesser than 15000 4.75% on Employee Gross Salary is Mandatory If Employee Gross Pay is above than 15000 he is not eligible for ESI Benefit