Esi
Querist : Anonymous
If a person is working in an IT Co and earning 12000 per month.Is it compulsory to deduct ESI from the salary of an employee.As per my knowledge it is applicable only in Factories or manufacturing Companies.I just want to confirm is it beneficial for IT Employees?Can you please guide me from where I can get full knowledge of it.
Thanks.
PF and ESIC both are calculated on Basic salary+DA. The rate of Pf contribution is 12% of Basic+DA from either side. And For esic the contribution is 1.75% from employee and 4.75% from employer. Other than this 1.61% is added by employer as EDLI charges.
The ceiling rate for PF is 6500/-month and for ESIC 15000/-.
ESI deduction is mandatory in your case, it does not matter that it is a IT co.
Querist : Anonymous
Sir what is EDLI Charges.
EDLI charges is the Admin charges.
Click here to login now
Similar Resolved Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
