Upgrad LLM

edli exemption


WE ARE HAVING EXEMPTION UNDER EDLI, AND PAYING THE AMOUNT TO LIC FOR OUR EMPLOYEES.

IF X IS GETTING A BASIC OF 8000/- , WHAT AMOUNT WE SHOULD PAY FOR GRATUITY AND EDLI, SUPERANNUATION , AND EXPLAIN US THE CALCULATIONS

 
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(A)PF contrbution for  Rs 100 is given below:

Employee' PF  contribution:- Rs 12

Employer' PF Contribution:-Rs 3.66

Employer'EPS Contribution:- Rs8.33

Employer to pay Admn Charges:- Rs01.10 ps

Employer to pay EDLI contrbution:- Rs 0.50 Ps

Employer to pay EDLI Admin Charges:- 0.01Ps.

(B) Gratuity working:-(Rs 8000(%)26days (X)15days(X)number of years of service) Wage devided by 26 days multiplied by 15 days multiplied by number of years of service rendered by employee.

(C) Superrannuation: As IT rules, employee's contribution towards PF and Superannuation should not exceed 27% wages.(PF contrbution is 12% and Superannuation contribution is 15%).This is wherever the Superrannuation Scheme is available.

Regards.

B Radha Krishna 

 
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Student

Dear Mr.Radha Krishna,

Thanks for the info. Keep up the great work going. God bless

Best Regards

Daksh

 
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