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Employee compensation under esi & pf
 

Employee compensation under esi & pf

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    Employee compensation under esi & pf Employee compensation under esi & pf Presentation Transcript

    • EMPLOYEE COMPENSATION UNDER ESI & PF FILMA VARGHESE TRADEMARK DEPARTMENT ALTACIT GLOBAL
    • ESI AND PF
    • COMPARISON BETWEEN ESI & PF ESI PF APPLICABILITY
      • The establishment which is employing more than 10 persons and using power for his manufacturing process or
      • The establishment which is employing more than 20 persons and not using power for his manufacturing process
      • Under Section 1(5): State Governments have extended the provisions of the ESI Act to the following classes of establishments.
      • Shops
      • Hotels & Restaurants
      • Cinemas including preview theatres
      • Road motor transport undertakings
      • Newspaper Establishments
      All the establishments employing 20 or more persons.   The Central Government has residual powers to apply this act to any establishment employing less than twenty employees. AREAS COVERED The ESI Scheme is being implemented area-wise by stages. The Scheme has already been implemented in different areas in the following States/Union Territories   STATES - All the States except Nagaland, Manipur, Tripura, Sikkim, Arunachal Pradesh and Mizoram. UNION TERRITORIES - Delhi, Chandigarh and Pondicherry Extends to whole of India except the State of Jammu & Kashmir and also the State of Sikkim where it has not been notified so far after its annexation with the Union of India. ELIGIBILITY Wage-limit is Rs.10, 000/- per month (with effect from 1.10.2006). All allowance except washing, conveyance allowance would be considered as wages for the purpose of applicability of the Act. An employee at the time of joining the employment  and getting wages up to Rs.6500/-   Every employee becomes eligible for joining the scheme from the date of joining the service.
    • COMPARISON BETWEEN ESI & PF ESI PF CONTRIBUTION RATE Employee contribution – 1.75% of the wages (w.e.f. 1.1.97) Employer’s contribution – 4.75% of the wages Employees in receipt of a daily average wage up to Rs.50/- are exempted from payment of contribution. Employers will however contribute their own share in respect of these employees. Both the employees and employer contribute to the fund at the rate 12% of the basic wages, dearness allowance and retaining allowance if any payable to employees per month. CONTRIBUTION PERIOD 1 st April – 30 th September 1 st October – 31 st March Contribution for the current month is deposited in the subsequent month BENEFIT PERIOD 1 st January – 31 st June 1 st July – 31 st December - ESI PF CONTRIBUTION RATE Employee contribution – 1.75% of the wages (w.e.f. 1.1.97) Employer’s contribution – 4.75% of the wages Employees in receipt of a daily average wage up to Rs.50/- are exempted from payment of contribution. Employers will however contribute their own share in respect of these employees. Both the employees and employer contribute to the fund at the rate 12% of the basic wages, dearness allowance and retaining allowance if any payable to employees per month. CONTRIBUTION PERIOD 1 st April – 30 th September 1 st October – 31 st March Contribution for the current month is deposited in the subsequent month BENEFIT PERIOD 1 st January – 31 st June 1 st July – 31 st December - ANNUAL CONTRIBUTION FOR THE PERIOD - Is from 1 st of March to 28/29 of Feb BENEFITS TO EMPLOYEE Medical benefit Medical benefit after retirement Sickness benefit Maternity benefit Disablement benefit Temporary Disablement benefit Permanent Disablement benefit Funeral expenses Dependent’s benefit Retirement Medical care Housing Family obligation Financing of insurance polices BENEFITS TO EMPLOYER Employer exempted from the applicability of the ESIC for Medicare facility , Maternity Benefit Act , Workmen’s Compensation Act -
    • EMPLOYEES STATE INSURANCE
    • EMPLOYEES STATE INSURANCE
    • EMPLOYEES STATE INSURANCE
    • TYPES OF BENEFITS - PF TYPES OF BENEFITS ELIGIBILITY ELIGIBLE AMOUNT FORM DOCUMENTARY SUPPORT Advance from the fund for repayment of loan 10 years membership of the fund and member should have taken loan from the government body 36 months wages (Basic + DA) or Members own share of contribution + Company’s share of contribution with interest thereon 31 A certificate from the lending authority furnishing the details of loan and outstanding amount Advance from the fund for illness Stay in hospital at least for a month 6 months wages (Basic + DA) 31 A certificate from the medical practitioner for hospitalization or operation Advance from the fund for marriage / Advance from the fund for education 17 years membership of the fund and minimum balance in member’s account should be Rs. 1000/- 50% of member’s own share of contribution 31 Declaration by the member which is attested by the employer Grant of advance in abnormal conditions, Natural calamities etc Certificate of damage from appropriate authority, State Government declaration Rs. 5000/- or 50% of member’s own share of contribution (To apply within 4 months) 31 Certificate of damage from appropriate authority To physically handicapped member for purchase of an equipment required to minimize the hardship on account of handicap Production of medical certificate from a competent medical practitioner to the effect that he is physically handicapped Basic wages + DA for six months or own share of contribution with interest or cost of equipment whichever is least 31 Certificate from the medical practitioner to the effect that the member is physically handicapped.
    • PROVISIONS UNDER PF
    • EMPLOYEES STATE INSURANCE
    • PROVIDENT FUND
    • CASE STUDY
    • CASE STUDY
    •