|Employee Provident Fund Employees share||12%|
|Employee Provident Fund Employer share||3.67%|
|Employees' Pension scheme||8.33%|
|Employee Deposit Linked Insurance||0.5%|
|Employee Provident Fund Administrative charges||1.1%|
|Employee Deposit Linked Insurance Administrative charges||0.01%|
The following three kinds of benefits are provided under the scheme: (1) Withdrawal benefit (2) Benefit of non-refundable advances (3) Benefit of financing of Life Insurance Policies.
Profession tax is levied under the Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976:
Profession Tax shall be paid by every person exercising any Profession or calling or is engaged in any trade or holds any appointment, public or private as specified in the Schedule to the Act.
A person is defined under the Act to mean, any person who is engaged in any Profession, trade, callings or employment in the State of Karnataka and includes :-
No tax is payable by persons who have attained age of sixty five years. Also no tax is payable for holding any Profession for less than120 days in that year.
Professional tax in Karnataka on Salary or wage earners whose salary or wage or both, as the case may be, for a month is,
If an enrolled person or a registered employer fails, without reasonable cause, to make payment of any amount of tax, within the required time or date as specified in the notice of demand, the prescribed authority may, after giving him a reasonable opportunity of being heard, impose upon him a penalty equal to ten per cent, of the amount of tax due.
Karnataka Shops and Establishment regulates the employment and working conditions in Commercial Establishments situated in Karnataka It applies to areas notified by the Government
|Number of Employees||Amount of Fee (Rs)|
|1 to 9 Employees||250|
|10 to 19 Employees||3000|
|20 to 49 Employees||8000|
|50 to 99 Employees||15000|
|100 to 250 Employees||30000|
|251 to 500 Employees||35000|
|501 to 1000 Employees||45000|
|Above 1000 Employees||50000|