Hello All,
Can anybody give me the details of payrolls that,
How to calculate the payrolls,What all are the percentages to calculate basic salary,(Employee PF, Employer PF, Other benefits, Gratuity, HRA, Spacial Allowance Etc...), How to give the break ups in the pay slips........??????????????
Still I have lot doubts regarding payrolls.
Please help me in this regard.
Thanks,
Mahadeva
From India, Mumbai
Can anybody give me the details of payrolls that,
How to calculate the payrolls,What all are the percentages to calculate basic salary,(Employee PF, Employer PF, Other benefits, Gratuity, HRA, Spacial Allowance Etc...), How to give the break ups in the pay slips........??????????????
Still I have lot doubts regarding payrolls.
Please help me in this regard.
Thanks,
Mahadeva
From India, Mumbai
Dear Mahadeva,
Now a days Co.work on CTC(Cost to Company) concept. Rule of Bk-up varies from company to company as per their policy but generally basic is kept at 40-50 % of CTC, HRA is 40-50 % of Basic.
Employer & employee PF is at 12% of basic respectively, 4% of basic as gratuity.
Your query is not very clear still trying to answer you but request you to mail me clear question you have.You want to know about CTC bk-up or about how pay slips are generated ? Plz clarify for exact answer.
Rgds,
Shilpi
From India, New Delhi
5Now a days Co.work on CTC(Cost to Company) concept. Rule of Bk-up varies from company to company as per their policy but generally basic is kept at 40-50 % of CTC, HRA is 40-50 % of Basic.
Employer & employee PF is at 12% of basic respectively, 4% of basic as gratuity.
Your query is not very clear still trying to answer you but request you to mail me clear question you have.You want to know about CTC bk-up or about how pay slips are generated ? Plz clarify for exact answer.
Rgds,
Shilpi
From India, New Delhi
What Shilpi has given is very true, this is the procedure all the organisations are following these days. S.Gaur
From India, Gurgaon
From India, Gurgaon
Dear Mahadev,
Taxable & Non - Taxable comes when you decide for your components of CTC but like you said Sodexho Coupons these are benefits given to employee so this is non taxable for employee but employer has to bear fringe benefit tax for it. Similiary any benefits in terms of Reimbursement if provided to employee it is non-taxable.
Medical, LTA, Telephone Expenses or any reimbursement are non Taxable whereas Fixed and variable salary like Basic, HRA,Spl.allow, Performance pay are taxable Income for employee.
Hope it will help you to understand salary components.
Rgds,
Shilpi
From India, New Delhi
Taxable & Non - Taxable comes when you decide for your components of CTC but like you said Sodexho Coupons these are benefits given to employee so this is non taxable for employee but employer has to bear fringe benefit tax for it. Similiary any benefits in terms of Reimbursement if provided to employee it is non-taxable.
Medical, LTA, Telephone Expenses or any reimbursement are non Taxable whereas Fixed and variable salary like Basic, HRA,Spl.allow, Performance pay are taxable Income for employee.
Hope it will help you to understand salary components.
Rgds,
Shilpi
From India, New Delhi
I am attaching the CTC calculator which I have developed for my company. You will find it handy & helpful in developing your system. S.Gaur
From India, Gurgaon
From India, Gurgaon
Dear Mr. Gaur ji, It very handy and useful for every one for CTC calculation of Salaries. Keepit up. Regards, :) PBS KUMAR
From India, Kakinada
From India, Kakinada
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