Hello,
I have just started a company and need help to create a simple salary slip for one employee I have in the company.
Since I have less than 20 employees, I do not deduct for PF. The only amount that is deducted is for TDS and PT.
No HRA is deducted as the employee is not renting and lives in his own home.
What components need to be necessarily there in a standard salary slip? For example, does it need to include information about leaves, etc.? The employee needs the salary slip for visa purposes, so I want to make sure I make an accurate salary slip.
Any help will be great. Thanks!
From India, Mumbai
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I have just started a company and need help to create a simple salary slip for one employee I have in the company.
Since I have less than 20 employees, I do not deduct for PF. The only amount that is deducted is for TDS and PT.
No HRA is deducted as the employee is not renting and lives in his own home.
What components need to be necessarily there in a standard salary slip? For example, does it need to include information about leaves, etc.? The employee needs the salary slip for visa purposes, so I want to make sure I make an accurate salary slip.
Any help will be great. Thanks!
From India, Mumbai
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It is not mandatory to give leave records in the salary slip. With regards to components, it can be basic, conveyance, medical reimbursement, uniform allowance, meal allowance, special allowance, mobile/telephone allowance, etc., as earnings. Professional tax and TDS are deducted.
From India, Ahmadabad
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787From India, Ahmadabad
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Dear Saji , Can i expect this Salary Structure in structured form i.e, on the basis of percentage for each category we give. Regarrds Harika Kadavakollu
From India, Vijayawada
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From India, Vijayawada
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Basic (should not be less than 30% of Gross Salary) HRA (50% of Basic) Conveyance (upto Rs. 800/- p.m. Tax Free) Medical Reimbursement (Upto Rs. 1250/- Tax Free) Spl/Other Allowance (Balance Amount)
From India, Ahmadabad
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From India, Ahmadabad
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Dear Saji,
Thanks for the analysis. I would like to know about Meal Allowance: If we mention a breakup for meal allowance, does the same amount have to be deducted from the employee's salary, and is it taxable? Or is it mandatory to issue food coupons without deducting the salary?
Regards,
Harika Kadavakollu
From India, Vijayawada
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Thanks for the analysis. I would like to know about Meal Allowance: If we mention a breakup for meal allowance, does the same amount have to be deducted from the employee's salary, and is it taxable? Or is it mandatory to issue food coupons without deducting the salary?
Regards,
Harika Kadavakollu
From India, Vijayawada
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Dear Saji,
Actually, our company does not provide any meals, but we mention it in the salary breakup for employee reference as it is a non-taxable element. Instead, we offer food coupons.
Regards,
Harika K
From India, Vijayawada
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Actually, our company does not provide any meals, but we mention it in the salary breakup for employee reference as it is a non-taxable element. Instead, we offer food coupons.
Regards,
Harika K
From India, Vijayawada
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Any fixed Meal Allowance is fully taxable, it is not non taxable element.
From India, Ahmadabad
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From India, Ahmadabad
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Salary slip final.xls
Salary slip.doc