Respected Seniors and my dear colleagues
I have been asked to prepare a salary structure,the very basic task an Hr has to perform and I have prepared one .Iam posting it right here
I invite your views suggestions comments on the same
Basic Salary- 40% of gross Salary
HRA -30% of basic
City allowance-10%
Conveyance allowance-10%
Sundry medical expenses 1000(fixed amount)
Mobile allowance 500
Other allowances xxxx Residual amount
Total xxxxx salary per month
I still think there is a lot of confusion as I dont know whether to show the variable pay which is 20% of the salary as a part of the salary or to show it seperately
Please help.I am too confused :roll:
Thanks and Regards
Indrani Chakraborty
From India, Pune
3I have been asked to prepare a salary structure,the very basic task an Hr has to perform and I have prepared one .Iam posting it right here
I invite your views suggestions comments on the same
Basic Salary- 40% of gross Salary
HRA -30% of basic
City allowance-10%
Conveyance allowance-10%
Sundry medical expenses 1000(fixed amount)
Mobile allowance 500
Other allowances xxxx Residual amount
Total xxxxx salary per month
I still think there is a lot of confusion as I dont know whether to show the variable pay which is 20% of the salary as a part of the salary or to show it seperately
Please help.I am too confused :roll:
Thanks and Regards
Indrani Chakraborty
From India, Pune
hai Indu Pls find the Salary matrix in the attached file. Hope it will helps you with cheers Pawan Krishna Ruddy.CA
From India, Hyderabad
From India, Hyderabad
Hi, The salary structure will be differ from state to state and city to city. The metro city allw. is different from other city allw. which I also don’t know. Regards, Mrugesh
From India, Mumbai
From India, Mumbai
Hi Mrugesh Thank you for your reply. Can any senior member of the community guide me on how much should be the city allowance for Pune ? Thanks and Regards Indrani Chakraborty
From India, Pune
From India, Pune
Dear Mr Pawan
Can you please clarify another doubt ?In case we are paying medical allowance to the employee then do we need to collect medical bills etc from the employee? Is it required to submit such bills to the auditor or CA during audit to support the fact that the company has actually spend that amount in employee welfare ?
Thanks and Regards
'
Indrani Chakraborty
From India, Pune
Can you please clarify another doubt ?In case we are paying medical allowance to the employee then do we need to collect medical bills etc from the employee? Is it required to submit such bills to the auditor or CA during audit to support the fact that the company has actually spend that amount in employee welfare ?
Thanks and Regards
'
Indrani Chakraborty
From India, Pune
1.yes required in case your comp holds the amount with them and pay after getting these bills. One way it is beneficial to Employee, he will get exempted from Tax at end.
2.Not required in case your comp pay the med allow along with salary, but it is taxable.
in case in doubt you can call me on thees
09985535304
or mail me
with cheers
Pawan Krishna Reddy.C
From India, Hyderabad
2.Not required in case your comp pay the med allow along with salary, but it is taxable.
in case in doubt you can call me on thees
09985535304
or mail me
with cheers
Pawan Krishna Reddy.C
From India, Hyderabad
Dear Mr Pawan
Thank you very much for the help extended.Our company has decided to pay this amount as a part of the salary and that too I guess till Rs 1000 it is not taxable.
Please correct me if I am wrong
Thanks and Regards
Indrani Chakraborty
Note I will give you a call tomorrow in case I have more doubts ,hope you dont mind
:)
From India, Pune
Thank you very much for the help extended.Our company has decided to pay this amount as a part of the salary and that too I guess till Rs 1000 it is not taxable.
Please correct me if I am wrong
Thanks and Regards
Indrani Chakraborty
Note I will give you a call tomorrow in case I have more doubts ,hope you dont mind
:)
From India, Pune
No way along with salary every thing will comes under IT. Your welcome with cheers Pawn Krishna Reddy.C
From India, Hyderabad
From India, Hyderabad
to prepare the salary slip you need to have the following points:
1. Basic salary
2. HRA
3. Medical allowance
4. conveyance allowance
5. mobile allowance(if applicable)
6. TDS
7. provident Fund
8. ESI
9.Professional TAx
10. Loan Repayment
11. Prepaid/Advance
12. Others
13. Leave encashment
Regards,
Chandnisnh
From India, Calcutta
1. Basic salary
2. HRA
3. Medical allowance
4. conveyance allowance
5. mobile allowance(if applicable)
6. TDS
7. provident Fund
8. ESI
9.Professional TAx
10. Loan Repayment
11. Prepaid/Advance
12. Others
13. Leave encashment
Regards,
Chandnisnh
From India, Calcutta
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Creating a Competitive Salary Structure.doc
Salary Structure.zip