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Type: HR, Report if not a HR topic
As per my knowledge the statutory contribution from employer is 13.61 %......................
Priyanks you are 100% correct
Ritesh
Hello,
About ESIC, there is a maximum ceiling for it, that is Rs. 10,000/- over and above this, employer is not mandatory to pay the ESIC benefit to the employee. its as per company policy.
About the contribution for ESIC is:
For Employee: 1.75% of basic salary
For Employee: 4.75% of basic salary
About Gratuity:
Its 15/26*no of yrs work in the organization
For this the employee should need to complete his minimum 5 yrs of continuous service to be laiable for the Gratuity benefit. And there is a maximum ceiling for this which is Rs. 3.5 Lk. but dnt know how much is the statutory deduction for it.
There is one component called Bonus in which the minimum bonus is around 8.33% where maximum is 20% which the employer have to give to the employee from the company profit.
Regards
Priyanka
Hello,
About ESIC, there is a maximum ceiling for it, that is Rs. 10,000/- over and a... See Priyanka's complete reply
Good Priyanka
You remember all the figures.
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Statutory Employer Contribution
Type: HR, Report if not a HR topic
Posted 15-06-2009Reply
can u Please give me the percentage of Employer contribution towards Statutory compliances? I am doubtful whether it is 33% or less?
As per my knowledge the statutory contribution from employer is 13.61 %
Provident fund: 3.67%
Pension fund: 8.33%
EDLI: 0.5%
Administration charges of PF: 1.1%
Administration charges of EDLI: 0.01%
M not the law person so clear me if i am wrong.
Regards
Priyanka
Provident fund: 3.67%
Pension fund: 8.33%
EDLI: 0.5%
Administration charges of PF: 1.1%
Administration charges of EDLI: 0.01%
M not the law person so clear me if i am wrong.
Regards
Priyanka
As per my knowledge the statutory contribution from employer is 13.61 %
Provident fun... See Priyanka's complete reply
Provident fun... See Priyanka's complete reply
As per my knowledge the statutory contribution from employer is 13.61 %......................
Priyanks you are 100% correct
Ritesh
Ritesh,
Yourself & Priyanka have included only Pf then what about ESI, Gratuity e... See Ratan's complete reply
Yourself & Priyanka have included only Pf then what about ESI, Gratuity e... See Ratan's complete reply
Hello,
About ESIC, there is a maximum ceiling for it, that is Rs. 10,000/- over and above this, employer is not mandatory to pay the ESIC benefit to the employee. its as per company policy.
About the contribution for ESIC is:
For Employee: 1.75% of basic salary
For Employee: 4.75% of basic salary
About Gratuity:
Its 15/26*no of yrs work in the organization
For this the employee should need to complete his minimum 5 yrs of continuous service to be laiable for the Gratuity benefit. And there is a maximum ceiling for this which is Rs. 3.5 Lk. but dnt know how much is the statutory deduction for it.
There is one component called Bonus in which the minimum bonus is around 8.33% where maximum is 20% which the employer have to give to the employee from the company profit.
Regards
Priyanka
Ritesh,
Yourself & Priyanka have included only Pf then what about ESI, Gratuity e... See Ratan's complete reply
Yourself & Priyanka have included only Pf then what about ESI, Gratuity e... See Ratan's complete reply
Hello,
About ESIC, there is a maximum ceiling for it, that is Rs. 10,000/- over and a... See Priyanka's complete reply
Good Priyanka
You remember all the figures.
Dear All,
I would like to share some minor details about Gratuity.
Though there is a condition of 5 yrs. service, for eligibility for gratuity, if an employee renders services for 4
If the net gratuity amount upto Rs. 3.5 Lacs is non-taxable.
any amount beyond Rs. 3.5 lacs is taxable according to slabs given in Income Tax Act.
I will update th slabs as i find it very soon..
I would like to share some minor details about Gratuity.
Though there is a condition of 5 yrs. service, for eligibility for gratuity, if an employee renders services for 4
If the net gratuity amount upto Rs. 3.5 Lacs is non-taxable.
any amount beyond Rs. 3.5 lacs is taxable according to slabs given in Income Tax Act.
I will update th slabs as i find it very soon..
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