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Type: HR, Report if not a HR topic
HOW TO CALCULATE ESI?
What is ESI?
E.S.I. is Employee State Insurance and is used for the benefit of the employee. If the gross salary of the
employee is <= 10K, then it is applicable on the employee where, 1.75% of the gross salary is
deducted/contributed towards ESI. Employees can avail medical benefits through ESI.
HAPA (Human Resources and People Appreciation) which is a well-known low cost HRMS solution in the
market, made specifically, keeping the needs of small and medium businesses in mind, takes care of all the
limitations and regulations, and complies with the Employees' State Insurance Act
Contribution
E.S.I. Scheme being contributory in nature, all the employees in the factories or establishments to which the
Act applies shall be insured in a manner provided by the Act. The contribution payable to the Corporation in
respect of an employee shall comprise of employer's contribution and employee's contribution at a specified
rate. The rates are revised from time to time and are also simultaneously updated in HAPA .
Currently, the employee's contribution rate (w.e.f. 1.1.97) is 1.75% of the wages and that of employer's is
4.75% of the wages paid/payable in respect of the employees in every wage period. Employees in receipt of a
daily average wage upto Rs.100/- are exempted from payment of contribution. Employers will however
contribute their own share in respect of these employees.
These calculations are timely & automatically done by the HRMS solution HAPA (Human Resources and
People Appreciation) for all the employees of an organization, with a detailed report of the salary breakups to
the HR’s & the employees.
Contribution Period and Benefit Period
There are two contribution periods each of six months duration and two corresponding benefit periods also of
six months duration as under.
Contribution Period Cash Benefit Period
1st April to 30th Sept. 1st Jan of the following year to 30th June
1st Oct to 31st March of the year 1st July to 31st December.
following.
For Example: If the CTC of an employee is Rs.8, 000/-. Then the calculations will be as follows:
8000 * 4.75% = Rs. 380/-
8000 * 1.75% = Rs. 140/-
HAPA updates the above mentioned contribution-percentage both for employee & employer, as and when the
government rules & regulations are amended or revised.
Different types of ESI Forms like Declaration form, Employer’s Registration Form etc. can be found by clicking
on the link below:
http://www.esic.nic.in/downloadable_forms.php
The above link can also be used to download the forms.
Benefits of ESI:
The section 46 of the Act envisages following social security benefits:-
1. Medical Benefit
2. Sickness Benefit (SB)
3. Maternity Benefit (MB)
4. Disablement Benefit
Dependents’ Benefit (DB) 5.
6. Other Benefits
7. Incentive to employers in the Private Sector for providing regular employment to the persons with
disability
8. Benefits & Contributory Conditions:
For more details about ESI benefits and about the government acts, rules & regulations related to the same,
you may visit the link below:
http://esic.in
The ESI is a part of the HAPA Payroll Management where the salary of all the employees gets calculated.
In the HRMS Software Solution, HAPA (Human Resources And People Appreciation) ESI gets calculated easily
and automatically along with the PF, TDS etc. without any manual intervention/calculation and is also
reflected as a part of the salary slips which are automatically generated every month and are auto-emailed to
all the employees.
To know more about the HRMS Software Solution HAPA (Human resources And People Appreciation) click on
the link given below:
http://g7cr.com/products.php?id=70
ESI is deducted from an employee’s salary for the bene fit of the employee, which is beneficial during medical
need
Thank you for your Valuable Time.
13893 Views
4 Replies
13893 Views 4 Replies0
ESI & PF PROCEDURES
Type: HR, Report if not a HR topic
Posted 05-10-2013Reply
Hi All,
Is there any one who can provide me Complete Company's registration Process for PF & ESI as our company's employee strength has reached beyond 25. so now i need to implement the Process.
Thanks in advance.
Paramjeet Singh
Hi Paramjeet,
For Pf Registration
1.Coverage Form
2.Form No:5
3.Rental Agreement Copy
4.Service Tax Copy
5.PAN Card Copy
6.List Of Employees
7.Attendance And Salary Statement Copy
8.Cancelled Cheque
9.Shops & Establishment Copy
For ESI Registration
1.Form No:1
2.Cancelled Cheque
3.Rental Agreement Copy
4.Service Tax Copy
5.PAN Card Copy
6.List Of Employees
7.Attendance And Salary Statement Copy
8.Shops & Establishment Copy
For Pf Registration
1.Coverage Form
2.Form No:5
3.Rental Agreement Copy
4.Service Tax Copy
5.PAN Card Copy
6.List Of Employees
7.Attendance And Salary Statement Copy
8.Cancelled Cheque
9.Shops & Establishment Copy
For ESI Registration
1.Form No:1
2.Cancelled Cheque
3.Rental Agreement Copy
4.Service Tax Copy
5.PAN Card Copy
6.List Of Employees
7.Attendance And Salary Statement Copy
8.Shops & Establishment Copy
HOW TO CALCULATE ESI?
What is ESI?
E.S.I. is Employee State Insurance and is used for the benefit of the employee. If the gross salary of the
employee is <= 10K, then it is applicable on the employee where, 1.75% of the gross salary is
deducted/contributed towards ESI. Employees can avail medical benefits through ESI.
HAPA (Human Resources and People Appreciation) which is a well-known low cost HRMS solution in the
market, made specifically, keeping the needs of small and medium businesses in mind, takes care of all the
limitations and regulations, and complies with the Employees' State Insurance Act
Contribution
E.S.I. Scheme being contributory in nature, all the employees in the factories or establishments to which the
Act applies shall be insured in a manner provided by the Act. The contribution payable to the Corporation in
respect of an employee shall comprise of employer's contribution and employee's contribution at a specified
rate. The rates are revised from time to time and are also simultaneously updated in HAPA .
Currently, the employee's contribution rate (w.e.f. 1.1.97) is 1.75% of the wages and that of employer's is
4.75% of the wages paid/payable in respect of the employees in every wage period. Employees in receipt of a
daily average wage upto Rs.100/- are exempted from payment of contribution. Employers will however
contribute their own share in respect of these employees.
These calculations are timely & automatically done by the HRMS solution HAPA (Human Resources and
People Appreciation) for all the employees of an organization, with a detailed report of the salary breakups to
the HR’s & the employees.
Contribution Period and Benefit Period
There are two contribution periods each of six months duration and two corresponding benefit periods also of
six months duration as under.
Contribution Period Cash Benefit Period
1st April to 30th Sept. 1st Jan of the following year to 30th June
1st Oct to 31st March of the year 1st July to 31st December.
following.
For Example: If the CTC of an employee is Rs.8, 000/-. Then the calculations will be as follows:
8000 * 4.75% = Rs. 380/-
8000 * 1.75% = Rs. 140/-
HAPA updates the above mentioned contribution-percentage both for employee & employer, as and when the
government rules & regulations are amended or revised.
Different types of ESI Forms like Declaration form, Employer’s Registration Form etc. can be found by clicking
on the link below:
http://www.esic.nic.in/downloadable_forms.php
The above link can also be used to download the forms.
Benefits of ESI:
The section 46 of the Act envisages following social security benefits:-
1. Medical Benefit
2. Sickness Benefit (SB)
3. Maternity Benefit (MB)
4. Disablement Benefit
Dependents’ Benefit (DB) 5.
6. Other Benefits
7. Incentive to employers in the Private Sector for providing regular employment to the persons with
disability
8. Benefits & Contributory Conditions:
For more details about ESI benefits and about the government acts, rules & regulations related to the same,
you may visit the link below:
http://esic.in
The ESI is a part of the HAPA Payroll Management where the salary of all the employees gets calculated.
In the HRMS Software Solution, HAPA (Human Resources And People Appreciation) ESI gets calculated easily
and automatically along with the PF, TDS etc. without any manual intervention/calculation and is also
reflected as a part of the salary slips which are automatically generated every month and are auto-emailed to
all the employees.
To know more about the HRMS Software Solution HAPA (Human resources And People Appreciation) click on
the link given below:
http://g7cr.com/products.php?id=70
ESI is deducted from an employee’s salary for the bene fit of the employee, which is beneficial during medical
need
Thank you for your Valuable Time.
How to calculate employees provident fund (epf)? What is PF?
PF is Provident Fund is a part of your salary, which is deducted every month and deposited on your behalf. If you work in a private firm then the company pays the same amount as it is deducted from your account and when you leave the firm you can apply and withdraw the amount saved. It's actually your personal saving of your earnings. If you are in government service then you will get the lump sum when you retire
.
As per new rules, it is calculated along with other allowance like conveyance and medical which are common to all the employees.
HAPA (Human Resources and People Appreciation) which is a well-known low cost HRMS solution in the market, made specifically, keeping the needs of small and medium businesses in mind, takes care of all the limitations and regulations, and complies with the Employees' Provident Fund Act.
How to Calculate PF?
First you have to calculate the Basic Salary which is approximately 50% of the CTC.
12% of Employee Share towards PF
8.33% of Employee Share as Family Pension Funds
3.67% of Employer Share for EPF
The various benefits of Employee Provident Fund
Employee Provident Fund is a very important tool of retirement planning. The compounded tax free interest and the maturity ensures a good growth of your money
Here are some of these which every enrolled person should know-
1 .PF Entitles for Pension Too: There are two elements in EPF- Provident Fund and EPS or Employee Pension Scheme introduced in 1995.
2. Insurance Benefit: As per EDLI (Employee Deposit Linked Insurance) scheme, in any organization where group insurance scheme is not available to the employees.
3. Special Occasions- EPF at help : There are special occasions in your family or some emergency arises. In case of need of funds and no recourse, EPF comes handy as it gives option to withdraw from the corpus but within a certain limit and by meeting some specified conditions.
4. Goals- Marriage, Education need for self, child or any sibling- In case you have to arrange funds for any of the above need then from your EPF corpus you can withdraw up to 50% of your contribution
5. Your Dream House - You can withdraw from your EPF account for house construction, repair or maintenance or for housing loan repayment. For all of these benefits, there are conditions specified by the organization
6. Medical Emergency - EPF gives benefit for major surgical operations in a hospital or by those suffering from TB, leprosy, paralysis, cancer, mental derangement or heart ailment.
In HAPA (Human Resources and People Appreciation) an HRMS Software/ Solution. The PF gets calculated easily and automatically along with the ESI and TDs Ect.. without any manual intervention/calculation and is also reflected as a part of the salary slips which are automatically generated every month and an auto-emailed to all the employees.
To know more about the HRMS Software Solution HAPA (Human resources And People Appreciation) click on the link given below:
http://g7cr.com/products.php?id=70
PF is Provident Fund is a part of your salary, which is deducted every month and deposited on your behalf. If you work in a private firm then the company pays the same amount as it is deducted from your account and when you leave the firm you can apply and withdraw the amount saved. It's actually your personal saving of your earnings. If you are in government service then you will get the lump sum when you retire
.
As per new rules, it is calculated along with other allowance like conveyance and medical which are common to all the employees.
HAPA (Human Resources and People Appreciation) which is a well-known low cost HRMS solution in the market, made specifically, keeping the needs of small and medium businesses in mind, takes care of all the limitations and regulations, and complies with the Employees' Provident Fund Act.
How to Calculate PF?
First you have to calculate the Basic Salary which is approximately 50% of the CTC.
12% of Employee Share towards PF
8.33% of Employee Share as Family Pension Funds
3.67% of Employer Share for EPF
The various benefits of Employee Provident Fund
Employee Provident Fund is a very important tool of retirement planning. The compounded tax free interest and the maturity ensures a good growth of your money
Here are some of these which every enrolled person should know-
1 .PF Entitles for Pension Too: There are two elements in EPF- Provident Fund and EPS or Employee Pension Scheme introduced in 1995.
2. Insurance Benefit: As per EDLI (Employee Deposit Linked Insurance) scheme, in any organization where group insurance scheme is not available to the employees.
3. Special Occasions- EPF at help : There are special occasions in your family or some emergency arises. In case of need of funds and no recourse, EPF comes handy as it gives option to withdraw from the corpus but within a certain limit and by meeting some specified conditions.
4. Goals- Marriage, Education need for self, child or any sibling- In case you have to arrange funds for any of the above need then from your EPF corpus you can withdraw up to 50% of your contribution
5. Your Dream House - You can withdraw from your EPF account for house construction, repair or maintenance or for housing loan repayment. For all of these benefits, there are conditions specified by the organization
6. Medical Emergency - EPF gives benefit for major surgical operations in a hospital or by those suffering from TB, leprosy, paralysis, cancer, mental derangement or heart ailment.
In HAPA (Human Resources and People Appreciation) an HRMS Software/ Solution. The PF gets calculated easily and automatically along with the ESI and TDs Ect.. without any manual intervention/calculation and is also reflected as a part of the salary slips which are automatically generated every month and an auto-emailed to all the employees.
To know more about the HRMS Software Solution HAPA (Human resources And People Appreciation) click on the link given below:
http://g7cr.com/products.php?id=70
Hi All,
I want to register my company under ESIC & PF . Need your help urgently to solve below questions:
1. Procedure for the registration?
2. Document required for the registration?
3. Registration Fees?
4. What is the monthly fees for individual employee after the registration?
Thanks & Regards,
Shweta
I want to register my company under ESIC & PF . Need your help urgently to solve below questions:
1. Procedure for the registration?
2. Document required for the registration?
3. Registration Fees?
4. What is the monthly fees for individual employee after the registration?
Thanks & Regards,
Shweta
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