Dear All
Please help me with the follwoing query:
An employee worked till 11th May and his salary for April was on hold . Now at the time of full and final payment do we need to deduct PT for both April and May or only for May? He was not paid anything in April . All payment is being done in May . His gross salary is above 15,000/-
Thanks
From India, Mumbai
46Please help me with the follwoing query:
An employee worked till 11th May and his salary for April was on hold . Now at the time of full and final payment do we need to deduct PT for both April and May or only for May? He was not paid anything in April . All payment is being done in May . His gross salary is above 15,000/-
Thanks
From India, Mumbai
We have faced such problems before.
I do not know the solution. I hope the seniors will give us one.
What we do to be safe, is to pay the higher amount.
In your case, pay PT for both months.
Actually you should have paid PT in April end for the withheld salary.
From India, Mumbai
I do not know the solution. I hope the seniors will give us one.
What we do to be safe, is to pay the higher amount.
In your case, pay PT for both months.
Actually you should have paid PT in April end for the withheld salary.
From India, Mumbai
Dear Saswata,
Per my understanding, the PT is to be deducted in case the monthly gross salary (payable) crosses 10K, irrespective of the no. of days the employee has worked in a particular month. Here in this case, PT is to be deducted for April only & not for May as the payable salary for the later is less than 10K (11 days salary).
Regards,
Sumeet Pattnaik
9860828552
From India, Mumbai
Per my understanding, the PT is to be deducted in case the monthly gross salary (payable) crosses 10K, irrespective of the no. of days the employee has worked in a particular month. Here in this case, PT is to be deducted for April only & not for May as the payable salary for the later is less than 10K (11 days salary).
Regards,
Sumeet Pattnaik
9860828552
From India, Mumbai
As per rules of professional tax you must deduct the professional tax at the time of payment to employee.
From India, Mumbai
From India, Mumbai
But since the salary is not paid in April and sometimes not be paid (if notice period is not completed)
So do we need to pay it in April because salary is payable or when the amount is actually paid ?
From India, Mumbai
So do we need to pay it in April because salary is payable or when the amount is actually paid ?
From India, Mumbai
Saswata,
Even if the salary is to be held for whatsoever the reason is, the payment should be processed. The company is liable to deduct the PT at the time of processing the salary.
Later, if company decides the salary of the individual can be held from uploading onto the bank account/link i.e. crediting into his bank account.
Hope in this case the salary is processed already.
Regards,
Sumeet Pattnaik
From India, Mumbai
Even if the salary is to be held for whatsoever the reason is, the payment should be processed. The company is liable to deduct the PT at the time of processing the salary.
Later, if company decides the salary of the individual can be held from uploading onto the bank account/link i.e. crediting into his bank account.
Hope in this case the salary is processed already.
Regards,
Sumeet Pattnaik
From India, Mumbai
Dear Gaurir,
Why confusion? You need to generate regular payroll with all statutory deductions such as PF, ESI, Prof. Tax, Income Tax (if applicable) etc. Net salary payable amount you may keep in suspense or salary payable account. (If you deduct Prof. Tax thru monthly salary of a employee and his salary is held for any reason, you need to pay the deducted amt. to the respective authority alongwith other employees. You can not hold prof. Tax payment)
Similarly, while making full & final settlement of account,generally we consider Leave encashment, Gratuity, Bonus etc. However, on Bonus & Gratuity amount PT is not deductible. If leave encashment amount is liable for Prof. Tax deduction, deduct it as per applicable rate, else ignore it.
Regards,
Suresh
From India, Thane
Why confusion? You need to generate regular payroll with all statutory deductions such as PF, ESI, Prof. Tax, Income Tax (if applicable) etc. Net salary payable amount you may keep in suspense or salary payable account. (If you deduct Prof. Tax thru monthly salary of a employee and his salary is held for any reason, you need to pay the deducted amt. to the respective authority alongwith other employees. You can not hold prof. Tax payment)
Similarly, while making full & final settlement of account,generally we consider Leave encashment, Gratuity, Bonus etc. However, on Bonus & Gratuity amount PT is not deductible. If leave encashment amount is liable for Prof. Tax deduction, deduct it as per applicable rate, else ignore it.
Regards,
Suresh
From India, Thane
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls
Full n final settlement.doc