Dear All,
From India, New Delhi
15We are a facility management co., do the contractual work. We have to pay OT with ESIC contribution.
can you guide me about the OT calculation for esic aspect.
According to me you have to calculate the OT wages as per you monthly and hourly rate then double the amout which is payable to the employee then you have to calculate the 6.5% on that amout towards ESIC.
hoping prompt reply from all of you.
Regards
Vikas Kumar
can you guide me about the OT calculation for esic aspect.
According to me you have to calculate the OT wages as per you monthly and hourly rate then double the amout which is payable to the employee then you have to calculate the 6.5% on that amout towards ESIC.
hoping prompt reply from all of you.
Regards
Vikas Kumar
From India, New Delhi
dear vikas the clculation for ESIC on ot which you have proposed is absolutely correct. tks j s malik
From India, Delhi
From India, Delhi
The above calculation is very correct. However you may keep in mind that the OT should not be clubbed for determining the coverage of an employee under sec 2(9) of the ESI Act. OT is calculated for payment of contributions only and not for determining the coverage of an employee under the Act.
Hope u got the clarification
rgds
sanagapalli
From India, Hyderabad
Hope u got the clarification
rgds
sanagapalli
From India, Hyderabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
ESIC Calculation.zip
Overtime calculation- weekly hours of work.PDF
SALARY SHEET CALCULATION.xls