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Esi,pf,pt,tds,vat

mdeepuchowdary Started The Discussion:

Dear all,

Could you please let me know about
1. ESI
a. How it is calculated?
b. How much amount is to be deducted?
c. To which department you have to pay?
d. What is the time limit to pay the amount to concerned department?
2. PF
a. How it is calculated?
b. How much amount is to be deducted?
c. To which department you have to pay?
d. What is the time limit to pay the amount to concerned department?
3. PT
a. How it is calculated?
b. How much amount is to be deducted?
c. To which department you have to pay?
d. What is the time limit to pay the amount to concerned department?
4. TDS
a. How it is calculated?
b. How much amount is to be deducted?
c. To which department you have to pay?
d. What is the time limit to pay the amount to concerned department?
5. VAT for export oriented companies
a. How it is calculated?
b. How much amount is to be deducted?
c. To which department you have to pay?
d. What is the time limit to pay the amount to concerned department?
e. What is the percentage if it software company which is export oriented and what will be the sales to this company?


Regards
Deepika M

saikrishna_GM - Member Since: Dec 2009
Hi, The details of ESI, P.F, are available in all state official web sites. www.apcommercialtaxes.gov.in Sai Krishna.Y. General Manager - (Admin & H.R)

Sudha S - Member Since: Dec 2008
PT, TDS

Hi,

PT is calculated on total gross salary of 6 six months. PT is paid twice in a year, I half Sep & II half March. The rate differs from state to state. You can visit official web site of PT mentioning your state.

TDS depends upon the payment you paid as rent, to your suppliers. You can get the TDS rate for the FY 2010-11 from google. while making payment you have to deduct TDS if the party exceeds the limit. If you deduct the TDS this month the deducted TDS should be remitted to Income tax dept before 7th of next month.

Hope it would clear your doubts

Regards
Sudha S

jdel28763 - Member Since: Jun 2010
Hi Depika

Could you please let me know about
1. ESI
a. How it is calculated?
In Gross Salary(Basic+All Allowance)

b. How much amount is to be deducted?
1.75 of Gross Salary

c. To which department you have to pay?
To be deposite to SBI With Spacified chalancs in ESCI registration Nbrs.

d. What is the time limit to pay the amount to concerned department?
within 15 after deduction

2. PF

a. How it is calculated?
Only Basic Salary

b. How much amount is to be deducted?
12% of Basic Salary

c. To which department you have to pay?
within 15 after deduction

burugu srikanth Goud - Member Since: Jun 2010
Income Tax Rates/Slab for Assessment Year 2010-11 (F Y 2009-10) Rate (%)
Up to 1,60,000
Up to 1,90,000 (for women)
Up to 2,40,000 (for resident individual of 65 years or above) NIL
1,60,001 – 3,00,000 10
3,00,001 – 5,00,000 20
5,00,001 upwards 30*
*A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000.
Note : -
• Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any.
• A marginal relief may be provided to ensure that the additional IT payable, including surcharge, on excess of income over Rs 1,000,000 is limited to an amount by which the income is more than this mentioned amount.
• Agricultural income is exempt from income-tax.

Burugu Srikanth Goud 9885212404

burugu srikanth Goud - Member Since: Jun 2010
Provident Fund (PF)
Greytip online calculates and enables you to deduct and report on all PF statutory requirements. Salient features are:
• Provision to mark an employee as PF Eligible or non-PF Eligible
• For all PF Eligible employees, automatic calculations of Employee PF Deduction, Employer PF contribution and Employer EPS Contribution
• Provision to restrict deduction upto statutory limit (Rs. 7500) or calculate on the entire Basic
• Handling of PF calculations on arrears
• Facility to deduct VPF (Voluntary Provident Fund) from the employee salary
• Calculation of PF and EPS Admin charges
• Comprehensive PF Statutory reports:
o PF - Monthly Statement
o PF - Form R1 - Monthly Return for Employees
o PF - Form 12A - PF Monthly Statement of Consolidation paid
o PF - Form 5 - Consolidated statement of members joining PF
o PF - Form 10 - Consolidated statement of members leaving PF
o PF - Combined Challan Report
o PF - Form 3A - Annual Statement to Employees
o PF - Form 6A - Consolidated Statement For Contribution Card. This report is available in hard-copy and in EDI (soft-copy) format

Burugu Srikanth goud 9885212404

burugu srikanth Goud - Member Since: Jun 2010
ESI
Greytip Online handles ESI related deductions and associated rules comprehensively. Salient features are:
• Provision to mark an employee as ESI Eligible or non-ESI Eligible
• For all ESI Eligible employees, automatic calculations of Employee ESI Deduction and Employer ESI contribution
• Automatic computation and deduction of ESI on the Gross payout
• Inbuilt features to continue deductions upto required period when an employee moves out of the ESI limit. You do not need to remember to stop or restart the deductions.
• Comprehensive ESI Statutory reports:
o ESI - Monthly Statement - Detailed and Summary
o ESI - Challan Report
o ESI - Form 6 - Half Yearly Statement
o ESI - Form 7 - Half Yearly Statement
Burugu Srikanth Goud 9885212404

burugu srikanth Goud - Member Since: Jun 2010
ESI is contributed from both the sides Employee as well as Employer.
It is been calculated on the basis of Gross salary per month and the maximum ceiling is 10000 Rs./Month.
The contribution from both the sides is as below-

Employee Side- 1.75% of gross/month
So if gross of an employee is 8000/month then
ESI contribution would be 8000*1.75% = 140 Rupees

Employer side- 4.75% of gross/month
ESI contribution would be 8000* 4.75% = 380 Rupees.

PF is also contributed from both the sides @ 12% of Basic salary only. Out of employee's 12%, 8.33% goes to Pension Fund and rest 3.67% goes to PF fund. Employers 13.61 %

ESIC challans are deposited at every month on or before the 21st of the month, whereas return is submitted half yearly along with the copy of challans deposited

Burugu Srikanth Goud 9885212404

burugu srikanth Goud - Member Since: Jun 2010
Hi This is Srikanth


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Anina.J.F - Member Since: May 2010
HI, I wanted to know PT Slabs currently applicable in Maharashtra & also an official website of PT Waiting for your reply Regards, aNINa

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