| Payroll Contributions | Cost |
|
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.
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