Hi Shankar, Working looks good, but i would suggest you increase the HRA to 50% of basic or else employees with higher sal will have to pay a lot of TAX Cheers !! Vinit
From India, Delhi
From India, Delhi
Dear all i also agree with Madhu, if you will show Bonus on monthly, than it will attract the PF calculation amount, in this case PF amount will increase.
From India, Ahmadabad
From India, Ahmadabad
My dear Shankar,
Is a salary slip ( the so called CTC) just to show a huge figure by adding up what else costs the employer will incur due to employment of one person? Then why the PF contribution is restricted to 12% of 6500 only. If PF is deducted from the whole then naturally, the employer should contribute to the same extend. (Only seggregation of PF amount to Provident Fund and Pension Fund takes a different treatment)
I am still confused about the bonus treatment. I agree that bonus is a part of CTC and if you want to show it as part of salary you can.But my concern is realating to the percentage of bonus which is purely depended on production and profit.
Regards,
Madhu.T.K
From India, Kannur
4240Is a salary slip ( the so called CTC) just to show a huge figure by adding up what else costs the employer will incur due to employment of one person? Then why the PF contribution is restricted to 12% of 6500 only. If PF is deducted from the whole then naturally, the employer should contribute to the same extend. (Only seggregation of PF amount to Provident Fund and Pension Fund takes a different treatment)
I am still confused about the bonus treatment. I agree that bonus is a part of CTC and if you want to show it as part of salary you can.But my concern is realating to the percentage of bonus which is purely depended on production and profit.
Regards,
Madhu.T.K
From India, Kannur
DEAR SHANKARRAVIK
THE PT SLAB FOR ANDRA PRADESH CHANGED WEF 1-1-2008 THERE IS NO PT UP TO 5000 REST OK.
THIS SALARY WILL HELP FOR JUNIOR STAFF WHAT ABOUT SENIOR STAFF ? I SUGGEST WE SHOULD GIVE THEM 45 OR 50 % HRA SO THAT IF THEY ARE CLAIMING RENT THEY WILL BE BENIFITED.
REGARDS
JOSEPH
From India, Mumbai
THE PT SLAB FOR ANDRA PRADESH CHANGED WEF 1-1-2008 THERE IS NO PT UP TO 5000 REST OK.
THIS SALARY WILL HELP FOR JUNIOR STAFF WHAT ABOUT SENIOR STAFF ? I SUGGEST WE SHOULD GIVE THEM 45 OR 50 % HRA SO THAT IF THEY ARE CLAIMING RENT THEY WILL BE BENIFITED.
REGARDS
JOSEPH
From India, Mumbai
Hi,
The thought of creating such a calculator is grateful and appreciated.
But there are few points requires a thorughly checking. Like you have set basic pay is almost 70% of the gross salary, none of the private company set basic at 70%. The usually industry standard is between 45-60% and normally it's 50% of the Gross.
Bonus liability at 8.33% is only upto a gross salary of Rs. 10000, above which there is no compusion on employer. Also to add bonus is paid on the salary of the employee and not on the basic pay.
warm regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
The thought of creating such a calculator is grateful and appreciated.
But there are few points requires a thorughly checking. Like you have set basic pay is almost 70% of the gross salary, none of the private company set basic at 70%. The usually industry standard is between 45-60% and normally it's 50% of the Gross.
Bonus liability at 8.33% is only upto a gross salary of Rs. 10000, above which there is no compusion on employer. Also to add bonus is paid on the salary of the employee and not on the basic pay.
warm regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
Hi,
The CTC break up is fine except that Bonus should be Rs. 3500/- per year ( for 8.33%) i.e. Rs. 292/- pm for employee drawing Basic salary of Rs. 3500/- and above. Further, you can also show the premium for Gratuity which is normally 4.25% of basic salary.
Regards
Subrato :)
The CTC break up is fine except that Bonus should be Rs. 3500/- per year ( for 8.33%) i.e. Rs. 292/- pm for employee drawing Basic salary of Rs. 3500/- and above. Further, you can also show the premium for Gratuity which is normally 4.25% of basic salary.
Regards
Subrato :)
Hi
Thank-your for sharing such a nice piece of information...
But have one query
Please let me know.. for which location / area is it applicable...
and also from when is it effective
Do let me know
Regards
Priya
From India, Chicalim
Thank-your for sharing such a nice piece of information...
But have one query
Please let me know.. for which location / area is it applicable...
and also from when is it effective
Do let me know
Regards
Priya
From India, Chicalim
Tha was really informative. Thanks.
But can you help me to draft a new salary slip with where by i can reduce the taxable amount and can even lure by adding allowance & benefits to my employees
Regards,
Meghamadhulika
From India, Bhopal
But can you help me to draft a new salary slip with where by i can reduce the taxable amount and can even lure by adding allowance & benefits to my employees
Regards,
Meghamadhulika
From India, Bhopal
Hi Shankar,
Thanks for posting such a useful information.
I have a doubt with regard to the slab rates mentioned here.
Eg: 2001 - 3000 ............ Rs. 25
But some one told me that it is 2000 - 2999 ................ Rs. 25 and so on.
Can you please check it out and let me know clearly?
Thanq
Radhi
From India, Hyderabad
Thanks for posting such a useful information.
I have a doubt with regard to the slab rates mentioned here.
Eg: 2001 - 3000 ............ Rs. 25
But some one told me that it is 2000 - 2999 ................ Rs. 25 and so on.
Can you please check it out and let me know clearly?
Thanq
Radhi
From India, Hyderabad
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CTC Calculator.xls