Hello friends,
I want to know what information about previous employer's salary/taxation/PF etc. need to be captured from a new employee and how is it relevant from a payroll perspective. Is it really necessary to capture this information?
Any help in this regard would be greatly appreciated. I look forward to your response.
Thanks and regards,
Nitin
From India, Mormugao
I want to know what information about previous employer's salary/taxation/PF etc. need to be captured from a new employee and how is it relevant from a payroll perspective. Is it really necessary to capture this information?
Any help in this regard would be greatly appreciated. I look forward to your response.
Thanks and regards,
Nitin
From India, Mormugao
Hi Nitin
The new Employee should give his declaration of earning in previous employment in Form 12B.In this case the salary should be what he earned after deduction U/s 10.He should also declare pf,income tax,professional tax if any deducted by his previous employer in Form 12B
Best Regards
Pinak
The new Employee should give his declaration of earning in previous employment in Form 12B.In this case the salary should be what he earned after deduction U/s 10.He should also declare pf,income tax,professional tax if any deducted by his previous employer in Form 12B
Best Regards
Pinak
Hi,
The details for past employment are obligatory to be furnished. In case the employee choose to not to disclose the same, any tax liability or non compliance of law is on his account.
However whenever he(she) furnishes the details to the new employer, this is mandatory for the new employer to take the same into account, while working out his tax and professional tax liability.
pl let me know, if any further details needed.
Thanks
Pankaj Patodi
From India, New Delhi
3The details for past employment are obligatory to be furnished. In case the employee choose to not to disclose the same, any tax liability or non compliance of law is on his account.
However whenever he(she) furnishes the details to the new employer, this is mandatory for the new employer to take the same into account, while working out his tax and professional tax liability.
pl let me know, if any further details needed.
Thanks
Pankaj Patodi
From India, New Delhi
Hi Pinak/Pankaj,
Thanks for your help. If the employee gives the Form 12B with his past earning details, when the employee files his/her returns :
1. Does the new employer have to show earnings received in previous employment in the Form 16 generated for the employee? If yes, under which head will it come? Is it going to become Profits in lieu of salary or willit get distribute under the relevant heads as if he/she earned it from the new employer?
2. Or does the employee use the Form 16 he/she receives from the previous employer and Form 16 given by us for the earnings he/she has received from us only while filing the his/her IT returns.
3. Finally, does the new employer have to file Form 12B on behalf of the employee with the income tax dept on receipt of the same?
Apologies if I sound naive... but I am naive in this regard. Kindly let me know how it works.
Thanks and regards,
Nitin
From India, Mormugao
Thanks for your help. If the employee gives the Form 12B with his past earning details, when the employee files his/her returns :
1. Does the new employer have to show earnings received in previous employment in the Form 16 generated for the employee? If yes, under which head will it come? Is it going to become Profits in lieu of salary or willit get distribute under the relevant heads as if he/she earned it from the new employer?
2. Or does the employee use the Form 16 he/she receives from the previous employer and Form 16 given by us for the earnings he/she has received from us only while filing the his/her IT returns.
3. Finally, does the new employer have to file Form 12B on behalf of the employee with the income tax dept on receipt of the same?
Apologies if I sound naive... but I am naive in this regard. Kindly let me know how it works.
Thanks and regards,
Nitin
From India, Mormugao
Hi,
To answer the second set of question(s)
1. NO the same need not to be shown in form 16 from the new employer, however the details can be shown as other income declared by the employee in the form 16.
2. Employee need to use form 16 from past as well present employer for filing his personal i. tax return.
3. The employer is not supposed to take form 12 b to the I T authorities
Thanks
Pankaj Patodi
From India, New Delhi
To answer the second set of question(s)
1. NO the same need not to be shown in form 16 from the new employer, however the details can be shown as other income declared by the employee in the form 16.
2. Employee need to use form 16 from past as well present employer for filing his personal i. tax return.
3. The employer is not supposed to take form 12 b to the I T authorities
Thanks
Pankaj Patodi
From India, New Delhi
Hi Nitin
As Pankaj gives you answer to your 2nd & 3rd question I am going to tell you about your 1st qestion. The new employer should show your previous employment salary in Form 16 under the head Any Other Income as per your declaration to your new employer given by the employee in Form 12B
Regards
Pinak
As Pankaj gives you answer to your 2nd & 3rd question I am going to tell you about your 1st qestion. The new employer should show your previous employment salary in Form 16 under the head Any Other Income as per your declaration to your new employer given by the employee in Form 12B
Regards
Pinak
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