Hi Shiva, Herewith I am attaching compensation & benefits Info. this info I got from senior citehr member. I hope this will be help u. Prakash — — — — — -
From India, Bangalore
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2From India, Bangalore
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Hello,
PF Employee Contribution Calculation - 12% on Basic + DA + Food Allowance
ESI Employee Contribution Calculation - 1.75% on Gross Salary
PF Employer Contribution Calculation - 13.61% on Basic + DA + Food Allowance
ESI Employer Contribution Calculation - 4.75% on Gross Salary
Akanksha Kukhraniya
From India, Delhi
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PF Employee Contribution Calculation - 12% on Basic + DA + Food Allowance
ESI Employee Contribution Calculation - 1.75% on Gross Salary
PF Employer Contribution Calculation - 13.61% on Basic + DA + Food Allowance
ESI Employer Contribution Calculation - 4.75% on Gross Salary
Akanksha Kukhraniya
From India, Delhi
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(Fact Check Failed/Partial)-The user reply contains inaccuracies. The correct calculations are: - PF Employee Contribution: 12% on Basic + DA - ESI Employee Contribution: 0.75% on Gross Salary - PF Employer Contribution: 13.61% on Basic + DA - ESI Employer Contribution: 3.25% on Gross Salary Please review the correct percentages and formulae for accurate payroll preparation. Thank you for your input.
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Dear friends
Just i want to know how the salary is calculated ,how much percentage is to be divided for BASIC,HRA,DA & another allowances.Payroll Processing is differ from one company to another company.Please give me the brief discussions.
Thanks & Regards
Paramagurunaath.SPS
From India, Madras
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Just i want to know how the salary is calculated ,how much percentage is to be divided for BASIC,HRA,DA & another allowances.Payroll Processing is differ from one company to another company.Please give me the brief discussions.
Thanks & Regards
Paramagurunaath.SPS
From India, Madras
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(Fact Checked)-The user's reply is partially correct. It is important to note that the percentage division for components like BASIC, HRA, DA, and other allowances is not fixed by law but varies across companies based on their policies and industry standards. Payroll processing indeed differs among companies. (1 Acknowledge point)
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could you please tell me that how to prepare payroll. Please do let me know what are all general benefits will come in the payroll. regards Ramesh
From India, Hyderabad
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From India, Hyderabad
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(Fact Checked)-The user reply needs to focus on how to prepare payroll and the general benefits included. It lacks specifics and examples. Consider providing detailed information on payroll processing and benefits to enhance understanding. Thank you for your engagement and interest in learning more about payroll preparation and benefits. (1 Acknowledge point)
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hi,
wat Sirisha.k says is curruct.
And regarding payroll.
depends on company they will take heads like Basic,HRA,TA,FBP,Allow,Bonuse,etc..
the % also same, few are takeing the basic is 35% or 40% or 45% on Gross.
so,we are not say exectly.
byee
From India, Hyderabad
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wat Sirisha.k says is curruct.
And regarding payroll.
depends on company they will take heads like Basic,HRA,TA,FBP,Allow,Bonuse,etc..
the % also same, few are takeing the basic is 35% or 40% or 45% on Gross.
so,we are not say exectly.
byee
From India, Hyderabad
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(Fact Check Failed/Partial)-The user's reply contains inaccuracies regarding payroll calculations. Payroll involves specific calculations based on laws and company policies, not arbitrary percentages. It's essential to follow legal guidelines and company practices accurately.
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Hi,
The percentage that is divided for the various components varies from one company to another.
In my company we have the following components.
Basic, HRA, CA and CCA
Where basic is 55%
HRA(house rent allowance) is 20%
CCA (City compensatory allowance) is 15%
CA(Conveyance allownace) is 10%
All the above components are calculated on gross.
Where Gross is ctc-employer contribution of pf and ESI(if applicable)
Calculations for PF and ESI
PF to be calculated on Basic
Employer and employer 12%
for basic above 6.5k pf is constantly 780
ESI to be calculated on Gross
Employer 1.75%
Employee 4.75%
EsI applicable only upto net 10k
Net pay is gross - pf-esi-pt
The Professional tax (PT) has the following slab.
Rs.3000/- to 4999/-** --- Rs.30/-
************* 5000/-*to 7999/-** --- Rs.60/-
************* 8000/- to 9999/-** --- Rs.100/-
*********** 10000/- to 14999/-* --- Rs.150/-
Above Rs.15000/- it is Rs.200/
Hope it clarifies.
Regards,
Jayashri
From India, Madras
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The percentage that is divided for the various components varies from one company to another.
In my company we have the following components.
Basic, HRA, CA and CCA
Where basic is 55%
HRA(house rent allowance) is 20%
CCA (City compensatory allowance) is 15%
CA(Conveyance allownace) is 10%
All the above components are calculated on gross.
Where Gross is ctc-employer contribution of pf and ESI(if applicable)
Calculations for PF and ESI
PF to be calculated on Basic
Employer and employer 12%
for basic above 6.5k pf is constantly 780
ESI to be calculated on Gross
Employer 1.75%
Employee 4.75%
EsI applicable only upto net 10k
Net pay is gross - pf-esi-pt
The Professional tax (PT) has the following slab.
Rs.3000/- to 4999/-** --- Rs.30/-
************* 5000/-*to 7999/-** --- Rs.60/-
************* 8000/- to 9999/-** --- Rs.100/-
*********** 10000/- to 14999/-* --- Rs.150/-
Above Rs.15000/- it is Rs.200/
Hope it clarifies.
Regards,
Jayashri
From India, Madras
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(Fact Checked)-The user's reply contains accurate information regarding the breakdown of components like Basic, HRA, CA, and CCA, along with calculations for PF, ESI, and Professional tax. No amendments needed. (1 Acknowledge point)
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ESI Employee Contribution Calculation - 1.75% on Gross Salary (always roundup) Ex: if contribution amount is Rs.50.20 then you have take it as Rs.51.00
ESI Employer Contribution Calculation - 4.75% on Gross Salary (even employer contribution is also round up)
PF employee- 12% of Basic+DA
PF employer- 12% Basic+DA (out of which 8.33% is towards Pension and 3.67% to PF)
From India, Bangalore
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ESI Employer Contribution Calculation - 4.75% on Gross Salary (even employer contribution is also round up)
PF employee- 12% of Basic+DA
PF employer- 12% Basic+DA (out of which 8.33% is towards Pension and 3.67% to PF)
From India, Bangalore
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(Fact Checked)-The user's reply contains accurate information regarding ESI and PF contributions. No corrections needed. (1 Acknowledge point)
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[QUOTE=sharmaneesu;378907]Hi rakesh you are absloutly right. pf is contributed 12% from employee side on basic salary, 12% from the employer side.
ESI is 1.75% from employee side, 4.75% from employer side on gross salary.
ashok
From India, Mumbai
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ESI is 1.75% from employee side, 4.75% from employer side on gross salary.
ashok
From India, Mumbai
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(Fact Check Failed/Partial)-[The user reply contains incorrect information regarding PF and ESI contributions. The correct PF contribution is 12% each from the employee and employer on the basic salary. For ESI, the employee contributes 0.75% of gross salary, and the employer contributes 3.25% of the gross salary.]
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:confused:hi,
you said ESI contributed on gross,so pls can you specify that gross includes the basic salary+incentives or wht it includes.iam little bit confused!! plz do let me know more abt Esi.
And one thng more abt competancy mapping how it measures as it is my project topic.so plz guide me regarding it.
From India, Delhi
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you said ESI contributed on gross,so pls can you specify that gross includes the basic salary+incentives or wht it includes.iam little bit confused!! plz do let me know more abt Esi.
And one thng more abt competancy mapping how it measures as it is my project topic.so plz guide me regarding it.
From India, Delhi
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(Fact Check Failed/Partial)-The user's reply contains inaccuracies regarding ESI contributions and competency mapping. It's essential to clarify these points for better understanding.
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Dear all,
I am attaching the simple salary process in Excel learn it. It will be very useful.
Every one should know how to work in Excel and process of Salary.
It include all the details like PF ESI etc.
I thing that have provided the valuble resource to you all.
Kindly view the attachment.
Warm Regards,
vinoth.R
From India, Madras
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I am attaching the simple salary process in Excel learn it. It will be very useful.
Every one should know how to work in Excel and process of Salary.
It include all the details like PF ESI etc.
I thing that have provided the valuble resource to you all.
Kindly view the attachment.
Warm Regards,
vinoth.R
From India, Madras
Acknowledge(1)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user reply is incorrect. Using Excel for payroll processing may not be compliant with labor laws. Utilizing specialized payroll software is recommended for accuracy and legal compliance.
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(Fact Check Failed/Partial)-[The user's reply does not address the original post about preparing payroll or the need for software. It only mentions sharing compensation and benefits info obtained from a senior member, which is not directly relevant to the query.]