kgbabu Started The Discussion:
Esi & Pf deduction on The Basic+ D.A (Or) Gross Salary
What is the minimum wages to employee?
If it is Less then the minimum salary, how much the contribution of employee & Employer ?
PF is deducted @ 12 % of basic pay from employee salary. Employer also contribute same amount (12 % of basic) to PF account of an employee.ESI is deducted only when gross salary is less than Rs. 10000/-. Employer contribution is 4.75 % of gross salary and employee deduction is 1.75 % of gross salary.
Rather than using a Excel Chart to automatically calculate ESI & PF, u can use a Payroll software. We use a fully automated HR & Payroll software, called K-Serve HR Suite (http://www.k-serve.net/home/pdf/KServeHR.pdf), which covers all the aspects of automated ESI / PF calculations, statutory reports, etc.
Please find new version of Salary Master with new Feactures..
Totally Usefriendly program.
You can enter your Company name,Address,Department,Designations
You can set Categoeries of Fixed earning-Other Earning-Fixed deduction-Other deduction in Salary Slip.
You can set limit of ESI,P.F,Income Tax Slab for Man and Woman,Surchage setting,Professional Tax.
Program is Designed on Two mode
(1) In Auto mode salary slip will be generated as per Your predefined data given in "Company Detail Sheet"
(2) In Manual mode Salary Slip will be generated as per Manual detail given by You.It will not concern with the data given by you in "Company detail sheet"
Ex: We need to generate salary for Regular Employee as per company Policy for that You may put this employees on Auto mode and it will generate Salary slip as per your predefined data (If Basic is 25% of Gross than auto calculate it)But Some Employees are Temperaroy or We don't Follow Rules as per Regular employee so that This Type of Employee Put on Manual mode and enter your Data manually(here You have manually enter Basic and other details).
3-Generate Salary Slip.
4-Track Employees' Leave history.
5-Track Income Tax of All Employee.
6-Print out Leave History of Employee.
8-Master Data sheet of All Employees.
9-Leave Calculation sheet.
10-ESI Calculation(Set Your Requirements)
(Here there are Two Options one is if Basic<=6500 than Basic*12% otherwise 6500*12%
Second is 12% of Basic)
12-Pension Scheme (not more than 541 rs submission)
14-Annual Salary statement of Employee and Employer
15-Employer Monthly Salary statement
16-Income Tax Calculations
17-Generation of Form No-6 (For ESIC)
18-Generation of Form no-3A (PF)
19-Generation of Form no-6A(PF)
Limitation: You have monitor Leave of employee each month when It goes minius Red indication is glow on that cell so You have to Put it on LWP otherwise minus leave will effect on salary sllip generation.
Requied Attention: Please be vigilant about Auto and Manual mode and P.F Selection.
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