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2805481 - Reduction in the rate of ESI contribution from 6.5% to 4%

Symptom

  • As Government has announced the reduction in rate of contribution under the ESI act from 6.5% to 4% with effect from 1st July.2019.
  • As per recently received Government circular, the reduction has been announced in  the rate of ESI contribution from 6.5% to 4%, effective from 01.07.2019.
  • Reduction of ESI rate w.e.f. 1st July 2019,Government reduces ESI contribution rate to total 4%,which is Employee Contribution as 0.75% and Employer Contribution as 3.25%

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Environment

  • Human Capital Management (HCM)
  • SAP ERP Payroll India
  • SAP ERP Core Component
  • SAP ERP
  • SAP enhancement package for SAP ERP

Product

SAP ERP Central Component all versions ; SAP ERP all versions ; SAP enhancement package for SAP ERP all versions ; SAP enhancement package for SAP ERP, version for SAP HANA all versions

Keywords

Percent,wef,ESIC,INESI,EE, ER,T7INE3,per cent,HINCALC0,PC00_M40_CALC , KBA , PY-IN , India , PY-IN-PS , Public Sector , Problem

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