Hi Ravi. Sorry for a late reply. It is possible. But it has to be notified to Labour Dept & PF bcos PF contribution also varies suddenly and affects Tax planning.So planning has to be done befor implementing the structure.
Such practices are headaches and better to be avoided.
Chandru
From India, Madras
39Such practices are headaches and better to be avoided.
Chandru
From India, Madras
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Salary-Note.doc
SALARY SHEET CALCULATION.xls