calculate_epf_esic
Calculate EPF and ESIC contributions for employer and employee using basic and gross wages in INR. Use it to compute payroll costs, compare CTC structures, and determine statutory obligations.
Instructions
Calculate EPF and ESIC contributions for employer and employee.
Use when computing payroll costs, employee deductions, or comparing CTC structures across different salary levels.
Args: basic_wages: Basic salary + DA per month in INR. gross_wages: Total gross monthly salary in INR. include_employer_share: If True, return employer costs.
Returns: Standard envelope with EPF breakdown, ESIC applicability, and totals.
Notes: EPF ceiling is ₹15,000/month for statutory computation. ESIC applicable when gross wages ≤ ₹21,000/month.
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| basic_wages | Yes | Basic salary + DA per month in INR | |
| gross_wages | Yes | Total gross monthly salary in INR | |
| include_employer_share | No | If True, return employer costs |
Output Schema
| Name | Required | Description | Default |
|---|---|---|---|
No arguments | |||