ravi kiran (student) (151 Points)
15 July 2011Sir,
I want to know whether Employer Contribution in the case of ESI Contribution to be rounded-up to higher rupee or just it should be rounded-off to nearest rupee .please clarify my query. Aldo please quote circular/link where it is being stated either way.
Regards,
Ravi Kiran
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 16 July 2011
| Originally posted by : ravi kiran | ||
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Sir, I want to know whether Employer Contribution in the case of ESI Contribution to be rounded-up to higher rupee or just it should be rounded-off to nearest rupee .please clarify my query. Aldo please quote circular/link where it is being stated either way. Regards, Ravi Kiran |
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After making entries and totalling, the amount of contribution to be remitted is to be worked out. The amount of contribution, both employers' share and employees' share in respect of a person is to be rounded to the next higher rupee with effect from 1.10.2004. .
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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