Skill: Labour Law Calculator

Purpose

Calculate statutory benefits under Indian labour laws including PF (Provident Fund), ESI (Employee State Insurance), Gratuity, Bonus, Retrenchment Compensation, Notice Pay, and Leave Encashment with precise formulas, wage ceilings, and eligibility thresholds.

Capabilities

1. PF (Provident Fund) Calculation

• Calculate employee contribution (12% of Basic + DA, capped at Rs. 15,000)
• Calculate employer contribution (12% - split into EPF 3.67% + EPS 8.33%)
• Handle voluntary contributions on higher wages
• Compute accumulated balance with interest (8.1% p.a. compound annually)
• Determine eligibility (establishments with 20+ employees)

2. ESI (Employee State Insurance) Calculation

• Calculate employee contribution (0.75% of gross wages, if ≤ Rs. 21,000/month)
• Calculate employer contribution (3.25% of gross wages)
• Determine eligibility threshold (wage ≤ Rs. 21,000/month)
• Apply to establishments with 10+ employees