TaxTMI 
TaxTMI 
Overtime wages ESI & PF
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....vertime wages ESI & PF<br> Query (Issue) Started By: - venkat eswaran Dated:- 13-4-2016 Last Reply Date:- 16-4-2016 Other Topics<br>Got 8 Replies<br>Indian Laws<br>Dear all, For overtime wages ESI & PF to be deducted? is it compulsory? Expecting ur views Venkat Reply By Ganeshan Kalyani: The Reply: Sir in my view overtime wags also forms part of the wage that the worker is getting paid. So bo....
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....th Esic and PF is deductible. Thanks. Reply By KASTURI SETHI: The Reply: Sh. Ganeshan Kalyani Ji, Salary Head is same. Over time is also accounted towards salary. Sir, Do you agree ? Reply By MUKUND THAKKAR: The Reply: Sir, PF & ESI is applicable only salary only . PF and ESI is not deducatable on over time. over time is payable as per factory act. if PF & ESI is applicable than same is e....
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....ffected on Bonus payment. if not part of CTC. Reply By KASTURI SETHI: The Reply: SH.MUKUND THAKKAR JI, Thank you, Sir. Reply By Ganeshan Kalyani: The Reply: Sri Mukund ji I am unable to find the definition of Basic Salary as per PF Act. Can you please through some light on this. Reply By MARIAPPAN GOVINDARAJAN: The Reply: The expression 'basic wages' is defined under Section 2(b)....
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.... of the Employees' Provident Funds And Miscellaneous Provisions Act, 1952 as all emoluments which are earned by an employee while on duty or on leave or holidays with wages in either case in accordance with the terms of the contract of employment and which are paid or payable in cash to him, but does not include- (i) the cash value of any food concession; (ii) any dearness allowance (that is....
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.... to say, all cash payments by whatever name called paid to an employee on account of a rise in the cost of living), house rent allowance, overtime allowance, bonus commission or any other similar allowance payable to the employee in respect of his employment or of work done in such employment; (iii) any presents made by the employer. Reply By KASTURI SETHI: The Reply: Thanks to Sh.M.Govindaraja....
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....n, Sir for making the concept clear to me. Reply By Ganeshan Kalyani: The Reply: Thanks for clarification Sri Mariappan Sir.<br> Discussion Forum - Knowledge Sharing ....