What are the types of employee welfare?
In most cases, employee welfare comes in monetary form, but it doesn’t always bend that way. Other forms of employee welfare include housing, health insurance, stipends, transportation and provision of food. An employer may also cater for employees’ welfare by monitoring their working conditions.
What is LWF in salary slip?
Labour Welfare Fund(LWF)LWF LWF In order to provide social security to such workers, Government has introduced Labour Welfare Fund to ensure assistance to unorganized labours. The contribution to LWF fund by the employee is Rs. 6 for salary upto Rs. 12 for salary above Rs. 3000.
How is LWF calculated in salary?
if gross Salary is above 100000 and <=150000 then 20% of gross salary +1000. if Gross Salary is >150000 then 30% of gross Salary + 1000. L.W.F Calculation: L.W.F will be calculated as per state wise.
In which states is LWF applicable?
Currently, this Act is enacted and applicable in the States of Andhra Pradesh, Chandigarh, Chhattisgarh, Delhi, Goa, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana & West Bengal.
Is ESI calculated on basic salary?
Employees’ State Insurance Scheme will be calculated on the gross salary (Basic and LOP dependent allowances) upto ₹21,000 . If Gross is above ₹21,000 ESI will be constant.
Who is not eligible for ESIC?
What Is Not Covered Under Employees State Insurance Scheme? The ESIC scheme currently does not cover workers or employees earning more than Rs. 21,000 per month and in the case of persons with a disability, the maximum wage is capped at Rs. 25,000 per month.
What is the maximum salary limit for ESI?
Rs.21,000
What is the maximum limit for washing allowance?
Rs 21,000 per annum
How many types of allowances are there in salary?
three types
Can I claim uniform allowance?
Overview. You can claim tax relief on flat rate expenses if you’re employed by someone and you: clean your work uniform. spend your own money on repairing or replacing equipment you need to do your job.
How much do you get for uniform allowance?
The standard flat-rate expense allowance for uniform maintenance is £60. By claiming a uniform tax refund, you’ll get back the amount of tax you would otherwise have paid on that £60. So if you’re a basic-rate taxpayer, you’ll get 20% of £60 as a rebate – which is £12. Higher-rate taxpayers will get back £24.
Who is entitled to flat-rate expenses?
Flat-rate expenses are those that cover the cost of equipment your employee needs for work. This equipment may include tools, uniforms and stationery. Your employee must incur these costs in performing the duties of their employment, and the costs must be directly related to the nature of their employment.
Can special allowance be more than basic salary?
The cold comfort is that the special allowance is usually not bigger than the basic salary. Special allowance is often treated as a remainder. Part of the CTC that cannot be allocated to any other salary head generally goes to the special allowance. This is linked to the basic salary.