koti.vat and pf

HOW TO CALCULATE PF, ESI, VAT, SALES TAX ETC., PF : Provident fund is calculated @ 12% on the basic salary, which indeed is deducted from Employee's salary and the same plus 12% on the basic is contributed by the employer. So the aggreate 12% + 12% is remitted to the Provident fund Department ESI : Employee State Insurance is calculated at 1.75% on the gross salary of the employees whose salary is below Rs. 10000/-permonth (w.e.f 2008) and Employer contributes 4.75% on the gross salary of the employee and the agreegate 1.75% + 4.75% is remitted to the ESI Department VAT : VAT percentage is 1, 4, 12.5%. It is a tax which is charged on the basic value of the product by the seller from the buyer and the same is remitted to the Sales Tax Departement. for eg if the product value is Rs. 100 and the tax applicable is 4%, in such case a bill is raised for Rs. 104. SALES TAX : Same as VAT HOW TO CALCULATE PF, ESI, VAT, SALES TAX ETC., PF : Provident fund is calculated @ 12% on the basic salary+DA+Food Allowence+Cash Allowence (Upto Rs.6,500/-and above of the limit, Company can decide), which indeed is deducted from Employee's salary and deposit in PF A/c No.1 and the same plus 12% on the basic is contributed by the employer and deposit 3.67% in the A/c No.1 and remaining 8.33% in A/c No.10 of Pension fund (which is calculated on the maximum limit of PF Rs.6500/-). So the aggreate 12% + 12% is remitted to the Provident fund Department ESI : Employee State Insurance is calculated at 1.75% on the gross salary of the employees whose salary is below Rs. 10000/-permonth (w.e.f 2008) and Employer contributes 4.75% on the gross salary of the employee and the agreegate 1.75% + 4.75% is remitted to the ESI Department VAT : VAT percentage is 1, 4, 12.5%. It is a tax which is charged on the basic value of the product by the seller from the buyer and the same is remitted to the Sales Tax Departement. for eg if the product value is Rs. 100 and the tax applicable is 4%, in such case a bill is raised for Rs.

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Transcript of koti.vat and pf

HOW TO CALCULATE PF, ESI, VAT, SALES TAX ETC.,

PF : Provident fund is calculated @ 12% on the basic salary, which indeed is deducted from Employee's salary and the same plus 12% on the basic is contributed by the employer. So the aggreate 12% + 12% is remitted to the Provident fund Department

ESI : Employee State Insurance is calculated at 1.75% on the gross salary of the employees whose salary is below Rs. 10000/-permonth (w.e.f 2008) and Employer contributes 4.75% on the gross salary of the employee and the agreegate 1.75% + 4.75% is remitted to the ESI Department

VAT : VAT percentage is 1, 4, 12.5%. It is a tax which is charged on the basic value of the product by the seller from the buyer and the same is remitted to the Sales Tax Departement. for eg if the product value is Rs. 100 and the tax applicable is 4%, in such case a bill is raised for Rs. 104.

SALES TAX : Same as VAT

HOW TO CALCULATE PF, ESI, VAT, SALES TAX ETC.,

PF : Provident fund is calculated @ 12% on the basic salary+DA+Food Allowence+Cash Allowence (Upto Rs.6,500/-and above of the limit, Company can decide), which indeed is deducted from Employee's salary and deposit in PF A/c No.1 and the same plus 12% on the basic is contributed by the employer and deposit 3.67% in the A/c No.1 and remaining 8.33% in A/c No.10 of Pension fund (which is calculated on the maximum limit of PF Rs.6500/-). So the aggreate 12% + 12% is remitted to the Provident fund Department

SALES TAX : Same as VAT