What salary components are applicable to ESI deductions in Finjinn?

What salary components are applicable to ESI deductions in Finjinn?

ESI deductions are calculated on the employee’s gross monthly salary. Gross salary is defined as the total income earned by the employee before deductions are made for insurance or any statutory compliance tax.
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For the purposes of calculating the ESI, the salary includes all amounts payable each month, such as:

  1. Basic salary,
  2. House Rent Allowance (HRA),
  3. Any other special allowances and
  4. Any other variables like incentives, overtime allowances