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Hi, I need the Calcution of pf, esic, gratutity on urgent basis. Pls do the needful
From India , Pune
Dear Swati
PF - Employee Share 12% of Basic Salary or if the basic salary is less than Rs. 6500/- then add some other components also in that and deduct. Employer Share of PF 3.67% or 12%-541 whichever is high. Employer Share of EPS 8.33% or Rs. 541/- whichever is less. (EPS Contribution should not exceed Rs.541/-) In addition you have to pay 1.61% also (1.1% as PF Admin Charges, 0.5% as EDLI and 0.01% as EDLI Charges)
ESI : Employee Share 1.75% of Gross Salary and Employer Share 4.75% of Gross Salary. Those whose salary is more than Rs. 15000/- for them you need not deduct the ESI.
Gratuity : It should be calculated during the time of Releasing the employee on Retirement or Resignation or Termination. (Monthly Salary/26) X 15 X No of years served) is the formula for calculating the Gratuity. Minimum service of 5 years is required to get the Gratuity.

From India , Hyderabad
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