Dear Team,
In case an employee’s ESI contribution is coming to 93.41, So it’ll be considered as 93 or 94?
As some people are saying it’ll be 93 and some are saying that it’ll be 94.

Kindly help.

Regards

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If the amount is less than 93.50, round it up to 93. Otherwise, if the amount is greater than or equal to 93.51 , round it up to 94. Kindly use round off formula.

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ESI portal is little confusing on calculating contributions. Round Off formula works but does not work properly in some cases.
Better to take the contribution amount from portal itself after uploading the data which will not take much time.

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Dear Member,

Pls note down

Formula in Excel sheet

For employee contribution = roundup(Contribution wages * 0.75%,0.5) = For ESI always it is upper rounding off.

For employer contribution = roundup(Total contribution wages * 3.25%,0.5) = For ESI always it is upper rounding off.

Ex:

Emp - A – Contri Sal = 17560 formula =roundup(17560 * 0.75%,0.5) = 132 ( Actual value is 131.7)

Emp - b – Contri Sal = 15110 formula =roundup(15110 * 0.75%,0.5) = 113 ( Actual value is 113.325)

Emp - c – Contri Sal = 10279 formula =roundup(10279 * 0.75%,0.5) = 78 ( Actual value is 77.0925)

Total employee contri (A+B+C) = 323

Total employer contri (17560+15110+10279)= 42949 = formula = roundup(42949 *3.25%,0.5) = 1396 ( Actual value is 1395.8425)

Total contribution = 323+1396 = 1719

You will get the correct value.

N Shanmuganand

Human Resources

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