Dear Members, I had a query with regards to ESIC calculation. I just need to know whether ESIC is calculated on Monthly Fixed Salary or Monthly Earned Salary.
From India, Mumbai
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1From India, Mumbai
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Sir,
1. The term "wages" has been defined under section 2(22) of the ESI Act, 1948. The term will include all remunerations "paid or payable" except as specifically excluded from said definition.
2. I hope you will examine the issue with the help of a number of honorable court judgments. If you have any specific issues, you may raise the same by indicating specific amounts of earnings of the employee.
From India, Noida
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1. The term "wages" has been defined under section 2(22) of the ESI Act, 1948. The term will include all remunerations "paid or payable" except as specifically excluded from said definition.
2. I hope you will examine the issue with the help of a number of honorable court judgments. If you have any specific issues, you may raise the same by indicating specific amounts of earnings of the employee.
From India, Noida
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SALARY SHEET CALCULATION.xls
Salary calculation.doc