Calculation of ESI & PF

1 of 3

http://www.caclubindia.com/experts/calculation-of-esi-pf-271885.asp

Login | Register

Member Strength 1146714 and growing..

CCI ONLINE COACHING

NEWS

EXPERTS

ARTICLES

FILES

FORUM

JOBS

STREAM

E-MAIL

EVENTS

STUDENTS

JUDICIARY

MORE

Home > Experts > Accounts > Calculation of ESI & PF

Calculator Download
Calculator.UtilityChest.com

Calculators: Different Calculators For Every Situation - Free!

Calculation of ESI & PF

Buy Insurance at Max Bupa

(Accounts)

healthcompanion.maxbupa.com/

This query is : Resolved

One Policy for the Entire Family Pay Less

Premium while Saving Tax.

Dear Sir
I want to know Calculation and Accounting Entries of PF and ESI
Please tell me with illustration.
Author :
Anonymous

Thanking You:-

( Author )
06 November 2009

Download Free Software

Calculator Download
Aviva Life Term Insurance

PF is deducted on Basic salary i.e Basic + DA is Rs. 6500/- or less above that PF is
not deducted.
1) Employee 12 % (of Basic + DA & Food concession allowance & retaining
allowance, if any)
2) Employer 13.61 % (of Basic + DA & Food concession allowance & retaining
allowance, if any)
[ 13.61 % = 3.67 % PF + 8.33 % Pension Scheme + 1.10 % Admin. Charges of PF
Publicly recommend on Google.
Ram Avtar Singh + 0.5 % EDLI + 0.01 % Admin Charges of EDLI ]
( Expert )
07 November 2009

EDLI - Employee deposit link insurance

RECOMMENDED ON WWW.CACLUBINDIA.COM

Highlights of the New Companies Bill

EPF:
Here this PF is normally The
deducted
basic
& DA ( dearness
upper from
housethe
of the
Parliament
pas allowance )
Such that Basic salary - 335%
people recommended this on Google+
DA - 15% outof gross salary.
For (e.g) - If the gross salary of a person is Rs.9000/-p.m
Basic- 35% @ 9000 - 3150
DA - 15% @ 9000 - 1350
Total ------4500
-------Such that the total amount would be deducted @ 12% (i.e) PF - 540/The maximum ceiling limit of PF - Rs.6500/If the basic + DA exceeds 6500/- than the contributions is optional. Some company
may have their own company policies.
Provident fund is calculated towards the employers is 13.61%
1. Employers Contribution
2.EPF A/c No.1 - 3.67%
3.EPF - Admn Charges - 1.1%
4.Pension Fund A/c No.10 - 8.33%
5.EDLI A/c No.21 - 0.5%
6.EDLI - Admn Charges - 0.01%
ESIC calculation:
------------------In this ESIC, it includes the medical benefit both for the employee and employer.
It has been calculated on the basic of gross pay per month and maximum limit is
upto Rs.10000/- p.m
Employee side - 1.75% and Employer side - 4.75%.
So if the gross of an employee is 8000/- p.m his contribution would be 8000*1.75%
= 140/-

23-Sep-13 9:34 PM

Calculation of ESI & PF

2 of 3

http://www.caclubindia.com/experts/calculation-of-esi-pf-271885.asp

Employer 8000*4.75% = 380/Therefore Net pay = Gross pay - Total deductions

1. Those who are getting 10000/- gross per month will not be applicable under ESIC
act.
2. 20 eligible employees to get registered in ESIC
3. Eligible employees means those who are getting gross pay upto 10000/- or less
per month.
Apart from that there is a tax deduction., it includes the Income & professional tax.

448

CTC means cost to the company.i.e .what are all the expenses incurred by the
Company for any of its employee for a particular period(monthly/yearly)
gross pay + employers pf+employers ESI + bonus = CTC
i.e THE SALARY PAYABLE AND OTHER STATUTORY BENIFTS PAYABLE BY COMPANY.
CTC
----CTC is cost to company and the components are
Basic
+HRA
+CONVEYANCE
+MOBILE REIMBURSHMENT
+MEDICAL reimburshment
+All allowances
+LTA
+employer cotri of PF
+Employer Cotri towards ESI
+Total variable incentives
+Perks & benefits
+ insurance Premium (in case of Group insurance)
Gratuity calculation
t is been deposited @ 4.81% of Basic per month..
After completing 5 years of service one may claim Gratuity at the time of separation
from the organisation and it is been paid @ 15 days of salary for per year of
service...
Like for 6 years of experience one's gratuity will be calculated with this formula-

bookmarked!

Kishor B

Recent

Popular

Weigh bridge
Applicability of s. 314
Tds deduction
payment slip of cs executive exam
Income tax
Date of furnishing of audit report
Wrongly stated income in itr
Prior period income treatment in income tax
return
Capital gains
Service tax paid but filling not done.

Quick Links
Experts Home
Apply As Expert
Daily Digest
Show all queries
Today's Posts
Ask a Query
Answer a Query
Hall of Fame
Settings (Only for experts)

Subscribe to Expert Queries Feed

( Expert )
19 July 2012

Sh. Ram Avtar Ji Thanks for such a nice information ,

CAclubindia
Like

However I would like one correction in your record .i.e .

satpal

Max. Limit for ESI is Rs. 15000.00 now instead of Rs. 10000.00

( Expert )
14 September 2012

Over all I am fully agreed with the information provided by you.

104,991

More Subscription Options

Twitter Linkedin

Thanks & Regards

Agree with above..

CA PRAVEEN
SINGH
( Expert )
20 November 2012

23-Sep-13 9:34 PM

Calculation of ESI & PF

3 of 3

http://www.caclubindia.com/experts/calculation-of-esi-pf-271885.asp

wow...what a info by ramavatarji.......

CA AYUSH
AGRAWAL

448

( Expert )
08 December 2012

Like

41

448

Previous

Next

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login (

) now

Similar Resolved Queries :

Difference b/w exceptional & extra-ordinary items
How to accounting of f & o by company assessee
How to accounting of f & o by company assessee
How to accounting of f & o by company assessee
Accounting for unit & developer in sez
Tds last date of tax & return subbmition
Journal entry of pf & esi
What is the difference between loans & advances?
Capital gain & loss on mutual fund
Loss from f & o contracts
Esic & pf of employee
Packing credit & bill discounting

Calculator Download
Calculator.UtilityChest.com

Calculators: Different Calculators For Every Situation - Free!

back to the top

Our Network Sites

About

We are Hiring
Blog
Advertise
Terms of Use
Disclaimer
Privacy Policy
Contact Us

2013 CAclubindia.com. All trademarks and copyrights are held by respective owners.
Members comments/posts and files are owned by contributors.

23-Sep-13 9:34 PM