I have attached a document in which I have prepared an attendance sheet for ten employees and also designed CTC for two employees. There are some queries included in the sheet. Please help me with this.
Please review the sheet and let me know if I have done it correctly as this is my first time doing this. Kindly point out any mistakes if there are any.
From India, New Delhi
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5Please review the sheet and let me know if I have done it correctly as this is my first time doing this. Kindly point out any mistakes if there are any.
From India, New Delhi
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Hi, Please attach your file one more time, this attachment is not opening.
From India, Mumbai
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From India, Mumbai
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Hello Aditya, Here I have attached the file again . And looking for your feedback so that I can improve my work.. Thanks
From India, New Delhi
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From India, New Delhi
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Hi Maya,
I have seen your attachment. Here are the steps to follow:
1. When you don't know the gross amount, take the CTC and divide it by 12.
2. Consider the employer contributions.
3. Use the following formula:
Gross = Monthly CTC - Employer Contribution
4. The ESI ceiling limit is 15000.
5. Use the same formula to separate the Employer Contribution from CTC:
Gross = CTC - Employer contribution
6. Yes, Gratuity is solely an employer contribution. The contribution rate is 4.81% of the basic.
Thank you.
From India, Mumbai
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I have seen your attachment. Here are the steps to follow:
1. When you don't know the gross amount, take the CTC and divide it by 12.
2. Consider the employer contributions.
3. Use the following formula:
Gross = Monthly CTC - Employer Contribution
4. The ESI ceiling limit is 15000.
5. Use the same formula to separate the Employer Contribution from CTC:
Gross = CTC - Employer contribution
6. Yes, Gratuity is solely an employer contribution. The contribution rate is 4.81% of the basic.
Thank you.
From India, Mumbai
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Hi Aditya,
Thank you for your reply. I got your point. Please also mention whether I have designed the salary structure correctly or not. Also, please mention the improvement area. How to calculate TDS and PT?
Regards,
Priyanka
From India, New Delhi
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Thank you for your reply. I got your point. Please also mention whether I have designed the salary structure correctly or not. Also, please mention the improvement area. How to calculate TDS and PT?
Regards,
Priyanka
From India, New Delhi
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Hi,
You have designed the salary structure correctly. PT is based on the total earnings of a particular month. If you are working in Maharashtra, then the PT slab is as follows:
- 5000 and below: Nil
- 5001 to 10000: 175
- 10001 and above: 200, and for the month of February, it is 300.
Thank you.
From India, Mumbai
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You have designed the salary structure correctly. PT is based on the total earnings of a particular month. If you are working in Maharashtra, then the PT slab is as follows:
- 5000 and below: Nil
- 5001 to 10000: 175
- 10001 and above: 200, and for the month of February, it is 300.
Thank you.
From India, Mumbai
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Hi,
Professional Tax (PT) varies between each state in India and within a state, it varies among the local governance systems such as Municipal Corporation, Panchayat, etc. Please check the PT slab as per the norms of your state.
For TDS, you can download the tax calculator from the link provided below. An explanation is also available in the tax calculator:
[Nithya's Tax Calculator](http://www.ynithya.com/taxcalc/)
Regards,
Narayan
From India, Hyderabad
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Professional Tax (PT) varies between each state in India and within a state, it varies among the local governance systems such as Municipal Corporation, Panchayat, etc. Please check the PT slab as per the norms of your state.
For TDS, you can download the tax calculator from the link provided below. An explanation is also available in the tax calculator:
[Nithya's Tax Calculator](http://www.ynithya.com/taxcalc/)
Regards,
Narayan
From India, Hyderabad
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Hi Priyanka, Enclosing herewith the CTC Calculator which shall help you a lot to understand it. Regards, Pushkar
From India, Delhi
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From India, Delhi
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ECN aaaa FINAL GRADE 5 PAYROLL LOCATION OTHERS VEHICLE N DEPENDENT (IF CHILD) Y ANNUAL CTC 600000 MONTHLY CTC 50000 BASIC 25000 HRA 13056 TRANSPORT ALLOWANCE 800 CHILD EDUCATION ALLOWANCE 200 CITY ALLOWANCE (IF ANY) 0 SPECIAL ALLOWANCE 0 MONTHLY GROSS 39056 HELPER ALLOWANCE 0 BUSINESS ATTIRE 5000 MEDICAL 1042 BONUS 700 EMPLOYER'S PF 3000 MONTHLY GRATUITY 1202 ANNUAL CTC 600000 MONTHLY CTC 50000
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Hi, there! Below are the details of the employee's compensation package:
- FINAL GRADE: 5
- PAYROLL LOCATION: OTHERS
- VEHICLE: N
- DEPENDENT (IF CHILD): Y
- ANNUAL CTC: 600,000
- MONTHLY CTC: 50,000
- BASIC: 25,000
- HRA: 13,056
- TRANSPORT ALLOWANCE: 800
- CHILD EDUCATION ALLOWANCE: 200
- CITY ALLOWANCE (IF ANY): 0
- SPECIAL ALLOWANCE: 0
- MONTHLY GROSS: 39,056
- HELPER ALLOWANCE: 0
- BUSINESS ATTIRE: 5,000
- MEDICAL: 1,042
- BONUS: 700
- EMPLOYER'S PF: 3,000
- MONTHLY GRATUITY: 1,202
- ANNUAL CTC: 600,000
- MONTHLY CTC: 50,000
Thank you for providing the details. Let me know if you need any further information or assistance.
From India, Gurgaon
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Hi, there! Below are the details of the employee's compensation package:
- FINAL GRADE: 5
- PAYROLL LOCATION: OTHERS
- VEHICLE: N
- DEPENDENT (IF CHILD): Y
- ANNUAL CTC: 600,000
- MONTHLY CTC: 50,000
- BASIC: 25,000
- HRA: 13,056
- TRANSPORT ALLOWANCE: 800
- CHILD EDUCATION ALLOWANCE: 200
- CITY ALLOWANCE (IF ANY): 0
- SPECIAL ALLOWANCE: 0
- MONTHLY GROSS: 39,056
- HELPER ALLOWANCE: 0
- BUSINESS ATTIRE: 5,000
- MEDICAL: 1,042
- BONUS: 700
- EMPLOYER'S PF: 3,000
- MONTHLY GRATUITY: 1,202
- ANNUAL CTC: 600,000
- MONTHLY CTC: 50,000
Thank you for providing the details. Let me know if you need any further information or assistance.
From India, Gurgaon
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