Features of pf calculation :
Employee state insurance: ESI fund, maintained by ESIC is a social security scheme that is applicable to employees earning Rs 21,000 or less per month to provide cash and medical benefits to them and their families. ESI is calculated at 4.75% from the employer side and 1.75% from the employee’s side. These amounts will be calculated on monthly gross salary and a limit is a setup. If the gross amount is less than the setup limit amount then those employees will be eligible for ESI. The cumulative contribution from the employer and employee will be deducted from the CTC every month. To ensure the hassle-free operation of Statutory Compliances for PF Deduction and ESI Fund a robust payroll service is much required.
Employee state insurance: ESI fund, maintained by ESIC is a social security scheme that is applicable to employees earning Rs 21,000 or less per month to provide cash and medical benefits to them and their families. ESI is calculated at 4.75% from the employer side and 1.75% from the employee’s side. These amounts will be calculated on monthly gross salary and a limit is a setup. If the gross amount is less than the setup limit amount then those employees will be eligible for ESI. The cumulative contribution from the employer and employee will be deducted from the CTC every month. To ensure the hassle-free operation of Statutory Compliances for PF Deduction and ESI Fund a robust payroll service is much required.
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