what all salary heads are to be taken in to consideration when designing a salary structure of taxable salaries and non taxable salaries.
From India, Hyderabad
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From India, Hyderabad
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Hi,
Salary structure for taxable salaried employees:
- Basic
- HRA
- Conveyance Allowance
- Medical Allowance
- Office Wear Allowance
- Special Allowance
Salary structure for non-taxable salaried employees:
- Basic
- DA
- HRA
- Conveyance Allowance
Regards,
Sheeja Nair, Mumbai
From India, Ahmedabad
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5Salary structure for taxable salaried employees:
- Basic
- HRA
- Conveyance Allowance
- Medical Allowance
- Office Wear Allowance
- Special Allowance
Salary structure for non-taxable salaried employees:
- Basic
- DA
- HRA
- Conveyance Allowance
Regards,
Sheeja Nair, Mumbai
From India, Ahmedabad
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Hi Sandhyarani,
Generally, there are the following heads in a salary structure:
1) Basic (Normally 50% of the Gross Pay and not less than the minimum wages act, fully taxable)
2) HRA (Varies from place to place. All metro cities will have 40%, and other cities it is 30%. If paid more than the limit, it is considered taxable income)
3) Conveyance/Transport Allowance (Limited up to Rs. 800/- per month, and above that is taxable)
4) Medical Allowance (Limited up to Rs. 1250/- per month, and above that is taxable)
5) Special Allowance, Bonuses, Incentives, etc., you shall plan, but all those are taxable only.
Debit heads are as follows:
- PT
- PF
- ESI
- TDS
- Loan Repayment
- Salary Advance
- Other Deductions
I hope this helps! Let me know if you need further clarification or assistance.
From India, Bangalore
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Generally, there are the following heads in a salary structure:
1) Basic (Normally 50% of the Gross Pay and not less than the minimum wages act, fully taxable)
2) HRA (Varies from place to place. All metro cities will have 40%, and other cities it is 30%. If paid more than the limit, it is considered taxable income)
3) Conveyance/Transport Allowance (Limited up to Rs. 800/- per month, and above that is taxable)
4) Medical Allowance (Limited up to Rs. 1250/- per month, and above that is taxable)
5) Special Allowance, Bonuses, Incentives, etc., you shall plan, but all those are taxable only.
Debit heads are as follows:
- PT
- PF
- ESI
- TDS
- Loan Repayment
- Salary Advance
- Other Deductions
I hope this helps! Let me know if you need further clarification or assistance.
From India, Bangalore
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Creating a Competitive Salary Structure.doc
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