Senior Administration and Human Resource Executive Interview Questions and Answers

Calculation of PF & ESIC in payroll involves determining the employee's contribution based on their salary and the applicable rates.

• Calculate PF contribution by deducting 12% of employee's basic salary.

• Employer also contributes 12% towards PF.

• ESIC contribution is 1.75% of gross salary for employee and 4.75% for employer.

• Ensure to consider any applicable wage limits for PF and ESIC calculations.

• Example: If an employee's basic salary is $10,000, their PF contribution would be $...read more

Gratuity is calculated based on the number of years of service and last drawn salary.

• Calculate gratuity using the formula: (Last drawn salary * 15 days * number of years of service) / 26

• Number of years of service should be rounded off to the nearest whole number

• Last drawn salary should include basic salary and dearness allowance

• Gratuity is applicable after completing 5 years of continuous service

• Different countries may have different rules and calculations for gratuity