Greetings of the Day!!!
Hi All,
I'm running proprietorship in service sector. I've 3 employees working with me.
I paid monthly basis salary to all of them. Salaries are as follows, 18500, 18500, 12000.
There is no deduction (No PF, No PT) in salary except their absency
Now one of them are applying for vehicle loan. He asks me salary slip for the same.
Can anybody tell me what should be the structure for his salary of 18000/-
Guys I'm want to help him for getting the loan but confused how?
Please suggest me the structure for the salary.
Abhijeet
From India, Mumbai
1Hi All,
I'm running proprietorship in service sector. I've 3 employees working with me.
I paid monthly basis salary to all of them. Salaries are as follows, 18500, 18500, 12000.
There is no deduction (No PF, No PT) in salary except their absency
Now one of them are applying for vehicle loan. He asks me salary slip for the same.
Can anybody tell me what should be the structure for his salary of 18000/-
Guys I'm want to help him for getting the loan but confused how?
Please suggest me the structure for the salary.
Abhijeet
From India, Mumbai
Hi, Here I attached Common Sturcture. I hope it will help you. You can modified in it. Regards, Hardik
From India, Ahmadabad
From India, Ahmadabad
Greetings of the Day!! Dear Hardik1087 Thank you very much for sharing nice information. It is very useful for me and my employee to solve the problem. Thanks again Regards Abhijeet
From India, Mumbai
From India, Mumbai
Dear Prabhijit, while designing / casting salary stucture, one has to keep in mind the income tax and other state laws in to mind, unless you have stated your state of operation, it is difficult to cast the salary structure, but since in both the cases their gross annual income will be below Rs.2.00 lac which is basic exemption from income tax, it does not require any structured salary, you may pay as gross also. Still if you want to make structured salary for Rs.12,000/- pm., it will be Basic Rs.8,000/- HRA Rs.3,200/- & Conv. Allw. Rs.800/-, and for Rs.18,500/-pm., it will be Basic Rs.12,500/-, HRA Rs.5,000/-, Conv. Allw. Rs.800/- & News Paper & Periodicles Rs.200/-.
From India, New Delhi
From India, New Delhi
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Creating a Competitive Salary Structure.doc
Salary Structure.zip