Dear All,
Our salary is divided in two heads, Basic Salary and Travel Allowance (Rs. 500/- fixed for everybody). We also deduct Professional Tax from the Salary.
Now my question is the following the right way to calculate salary?
Suppose Mr. X's salary is Rs. 9000/- per month i.e. Rs. 8500/- basic + Rs. 500/- Travel All.). He was on LWP for 2 days.
Earned salary = (8500/30)*28 = Rs. 7933/-
Travel Allowance = Rs. 500/-
Gross Salary = Rs. 8433/-
Deduction:
Professional Tax = Rs. 150/- (because salary is Rs. 9000)
Net Salary = Rs. 8283/-.
From India, Mumbai
Our salary is divided in two heads, Basic Salary and Travel Allowance (Rs. 500/- fixed for everybody). We also deduct Professional Tax from the Salary.
Now my question is the following the right way to calculate salary?
Suppose Mr. X's salary is Rs. 9000/- per month i.e. Rs. 8500/- basic + Rs. 500/- Travel All.). He was on LWP for 2 days.
Earned salary = (8500/30)*28 = Rs. 7933/-
Travel Allowance = Rs. 500/-
Gross Salary = Rs. 8433/-
Deduction:
Professional Tax = Rs. 150/- (because salary is Rs. 9000)
Net Salary = Rs. 8283/-.
From India, Mumbai
Dear
In my Suggestion For Travel allowance u can do this one =500/30*28
So U r not considering Pf and esi and All ,, Where is the Weekly off concept , better to improve your HR policy It may Help your Employee Turn
over
Regards
Venkat
From India, Chennai
25In my Suggestion For Travel allowance u can do this one =500/30*28
So U r not considering Pf and esi and All ,, Where is the Weekly off concept , better to improve your HR policy It may Help your Employee Turn
over
Regards
Venkat
From India, Chennai
Dear Mr. Venkat,
Thank you for your suggestion on Travel All. We do not have PF and ESI. We are a small IT company based in Vadodara. Number of people does not exceed 20. I am sorry but I don't understand your weekly-off question. Of course, we have every Sunday off. Can you please elaborate?
From India, Mumbai
Thank you for your suggestion on Travel All. We do not have PF and ESI. We are a small IT company based in Vadodara. Number of people does not exceed 20. I am sorry but I don't understand your weekly-off question. Of course, we have every Sunday off. Can you please elaborate?
From India, Mumbai
Dear ,
Suppose You Should Use Following Formula ,If one person Working in a Month 22 days and there is 4 sundae in a particular month his Gross is 9000.
22/26*9000=7615 His salary ,
Then You Can Arrange Group insurance for the employee , i think per head they will ask 200 per year, it will motivate your employee , normally all small firms also doing this kind of insurance ,,,, all the insurance companies provide group insurance
All the very best
From India, Chennai
Suppose You Should Use Following Formula ,If one person Working in a Month 22 days and there is 4 sundae in a particular month his Gross is 9000.
22/26*9000=7615 His salary ,
Then You Can Arrange Group insurance for the employee , i think per head they will ask 200 per year, it will motivate your employee , normally all small firms also doing this kind of insurance ,,,, all the insurance companies provide group insurance
All the very best
From India, Chennai
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SALARY SHEET CALCULATION.xls
Salary calculation.doc