#1
April 19th, 2012, 04:14 PM
| |||
| |||
ESI contribution percentage
What is the concept of ESI contribution percentage, what is the percentage of ESI will be deducted in salary of employer? From which sources can I get more detail about it? E.S.I. Scheme being contributory in nature, every one of the workers in the production lines or foundations to which the Act applies might be guaranteed in a way gave by the Act. The commitment payable to the Corporation in regard of a representative should involve business' commitment and worker's commitment at a predefined rate. The rates are changed now and again. At present, the worker's commitment rate (w.e.f. 1.1.97) is 1.75% of the wages and that of business' is 4.75% of the wages paid/payable in regard of the workers in each wage period. Workers in receipt of a day by day normal wage upto Rs.100/ - are exempted from installment of commitment. Bosses will however contribute their own particular partake in regard of these workers. Accumulation of Contribution A business is subject to pay his commitment in regard of each worker and deduct representatives commitment from wages charge and should pay these commitments at the above determined rates to the Corporation inside 21 days of the most recent day of the Calendar month in which the commitments fall due. The Corporation has approved assigned branches of the State Bank of India and some different banks to get the installments for its sake. Commitment Period and Benefit Period There are two commitment periods each of six months term and two comparing advantage periods additionally of six months length as under. The ministry has proposed that employers contribute 4 per cent, instead of 6.5 per cent of a worker’s income towards the Employees’ State Insurance (ESI) scheme Contribution Period Corresponding Cash Benefit period Contribution Period Cash Benefit Period 1st April to 30th Sept. 1st Jan of the following year to 30th June 1st Oct to 31st March of the year following. 1st July to 31st December. Last edited by Neelurk; April 4th, 2020 at 11:06 AM. |
#2
February 17th, 2017, 09:55 AM
| |||
| |||
Re: ESI contribution percentage
Hi I am interested in having the information ESI Scheme as ell as the contribution percentage by the employer and the proposed revised rate of contribution?
|
|