Provident Fund (PF)
(This contribution covers Employee’s Provident Fund (EPF) and Employee’s Pension Scheme (EPS)). EPF is for claims related to unemployment and EPS is for pension after retirement.
|12% of the employee’s basic salary capped at INR 1800 (approx) per month.|
|Employee’s State Insurance (ESI)||
3.25% of employee monthly gross pay if monthly salary< INR 21000.
0% for employees with a salary over INR 21000
|Employer health insurance contribution||
50% of total health insurance cost for the employee and his/her dependents.
Varies from INR 200 to INR 2000 per month
|Gratuity pay (Accrued and will be paid to employees after 5 years of continuous employment. Paid only after they leave the company)||
15 days of gross pay for every year.
Approximately 4.1% of employee’s gross salary.
|Total||*10% to 15% depending on the employee’s gross pay|
*Please note that any overage fee collected as part of the employer payroll costs will be refunded to the customer by Global Squirrels upon an employee’s termination of employment.