What is percentage of Pf Calculation Esic rate of employee and employer

Question

Accepted Answer

The percentage of PF calculation and ESIC rates for employees and employers vary based on government regulations.

PF (Provident Fund) calculation is typically 12% of an employee's basic salary, contributed equally by the employee and employer.
ESIC (Employee State Insurance Corporation) rates also vary but are generally around 1.75% of the employee's gross salary, contributed by the employer.
The exact percentages may vary based on government regulations and the specific organization's policies.
For example, if an employee has a basic salary of $1000, the PF contribution would be $120 (12% of $1000) split equally between the employee and employer.
Similarly, if the gross salary is $2000, the ESIC contribution would be around $35 (1.75% of $2000) paid by the employer.

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