Dear Folks,
Please share the payroll calculation format in Excel when there is a salary cut (50%) due to the COVID-19 outbreak. Will there be any change in the gross salary, or will it be calculated on the net take-home after the necessary deduction?
For example, if the employer decides to pay his employee 50% of his gross salary per month till Diwali '20, please help me out with the following questions:
1. What will be his gross salary?
2. If we keep 50k as this gross salary, then 25k will be shown as what for the accounting purpose in the salary sheet?
3. How will PF, ESIC, and other statutory deductions take place?
From India, Mumbai
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Please share the payroll calculation format in Excel when there is a salary cut (50%) due to the COVID-19 outbreak. Will there be any change in the gross salary, or will it be calculated on the net take-home after the necessary deduction?
For example, if the employer decides to pay his employee 50% of his gross salary per month till Diwali '20, please help me out with the following questions:
1. What will be his gross salary?
2. If we keep 50k as this gross salary, then 25k will be shown as what for the accounting purpose in the salary sheet?
3. How will PF, ESIC, and other statutory deductions take place?
From India, Mumbai
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Dear Sneha-Rawat ji,
The questions you asked need to be understood from various perspectives. Additionally, you need to follow the directives of the Honorable Supreme Court to arrive at a mutually agreed settlement with your employees. For this, you need to hire the services of a qualified expert. You can reach out to me via the email provided below.
From India, Mumbai
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191The questions you asked need to be understood from various perspectives. Additionally, you need to follow the directives of the Honorable Supreme Court to arrive at a mutually agreed settlement with your employees. For this, you need to hire the services of a qualified expert. You can reach out to me via the email provided below.
From India, Mumbai
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SALARY SHEET CALCULATION.xls
Salary calculation.doc