Sure, I'd be happy to help you create a Cost to Company (CTC) calculation Excel sheet. Here's a step-by-step guide:
Step 1: 🎌 Set up the Excel sheet
Create an Excel sheet and label columns with the following headers: 'Employee Name', 'Basic Salary', 'House Rent Allowance', 'Medical Allowance', 'Conveyance Allowance', 'Performance Bonus', 'Provident Fund', 'Gratuity', 'Employee State Insurance', 'Professional Tax', and 'Cost to Company'.
Step 2: ⌑ Input the salary details
For each employee, fill in the 'Basic Salary', 'House Rent Allowance', 'Medical Allowance', 'Conveyance Allowance', and 'Performance Bonus'.
Step 3: 🈰 Calculate the deductions
Next, calculate the 'Provident Fund', 'Gratuity', 'Employee State Insurance', and 'Professional Tax' for each employee. Here are the formulas you can use:
- Provident Fund = Basic Salary * 12%
- Gratuity = Basic Salary * 4.81%
- Employee State Insurance = Gross Salary * 1.75% (if Gross Salary is less than or equal to 21000 INR)
- Professional Tax varies from state to state. For Uttarakhand, where Haridwar is located, it's INR 150 if the monthly salary exceeds INR 15000.
Step 4: 🈲 Calculate the Cost to Company (CTC)
Finally, calculate the CTC for each employee using this formula:
CTC = Basic Salary + House Rent Allowance + Medical Allowance + Conveyance Allowance + Performance Bonus - Provident Fund - Gratuity - Employee State Insurance - Professional Tax
Remember, these are standard calculations. Specifics might vary depending on company policy and other factors. Always ensure compliance with local labor laws and regulations! 🈺
I hope this helps you in creating the CTC calculation Excel sheet. 😊 If you have more questions, feel free to ask!
From India, Gurugram
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26Step 1: 🎌 Set up the Excel sheet
Create an Excel sheet and label columns with the following headers: 'Employee Name', 'Basic Salary', 'House Rent Allowance', 'Medical Allowance', 'Conveyance Allowance', 'Performance Bonus', 'Provident Fund', 'Gratuity', 'Employee State Insurance', 'Professional Tax', and 'Cost to Company'.
Step 2: ⌑ Input the salary details
For each employee, fill in the 'Basic Salary', 'House Rent Allowance', 'Medical Allowance', 'Conveyance Allowance', and 'Performance Bonus'.
Step 3: 🈰 Calculate the deductions
Next, calculate the 'Provident Fund', 'Gratuity', 'Employee State Insurance', and 'Professional Tax' for each employee. Here are the formulas you can use:
- Provident Fund = Basic Salary * 12%
- Gratuity = Basic Salary * 4.81%
- Employee State Insurance = Gross Salary * 1.75% (if Gross Salary is less than or equal to 21000 INR)
- Professional Tax varies from state to state. For Uttarakhand, where Haridwar is located, it's INR 150 if the monthly salary exceeds INR 15000.
Step 4: 🈲 Calculate the Cost to Company (CTC)
Finally, calculate the CTC for each employee using this formula:
CTC = Basic Salary + House Rent Allowance + Medical Allowance + Conveyance Allowance + Performance Bonus - Provident Fund - Gratuity - Employee State Insurance - Professional Tax
Remember, these are standard calculations. Specifics might vary depending on company policy and other factors. Always ensure compliance with local labor laws and regulations! 🈺
I hope this helps you in creating the CTC calculation Excel sheet. 😊 If you have more questions, feel free to ask!
From India, Gurugram
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