Hi,
I have recently joined Networking company.Here i have to prepare salary sheet for the month of APRIL.
I would like to know is it possible to put basic salary according to Minimum Wages and HRA more than this, if employee is getting salary of 72000/-PM
Akhaya
Sr.HR Executive
From India, Lucknow
1I have recently joined Networking company.Here i have to prepare salary sheet for the month of APRIL.
I would like to know is it possible to put basic salary according to Minimum Wages and HRA more than this, if employee is getting salary of 72000/-PM
Akhaya
Sr.HR Executive
From India, Lucknow
Hi,
You should avoid this type of scenario, however each of the city has its own house rent allowance exemption. Hence it may not be possible for employee to save tax more than the prescribed limit.
You can use flexi benefit plan, Medical, LTA, Meal voucher etc. to reduce the tax burden.
Tax experts please suggest.
Regards,
Niraj Sharma
From India, Bangalore
You should avoid this type of scenario, however each of the city has its own house rent allowance exemption. Hence it may not be possible for employee to save tax more than the prescribed limit.
You can use flexi benefit plan, Medical, LTA, Meal voucher etc. to reduce the tax burden.
Tax experts please suggest.
Regards,
Niraj Sharma
From India, Bangalore
Hi
This is sakthi. Having doubt in new PF rules.
Consider a person is getting 40000 gross having 15000 basic, if his NCP is 15 days, the earned gross is approximately 20000, basic is 7500. Let me know for which amount we have to pay PF, whether for earned gross or minimum wage ceiling of rs.15000.
If we calculate for minimum wage 15000, then it will reflect on their coresponding bonus calculation. please guide
From India
This is sakthi. Having doubt in new PF rules.
Consider a person is getting 40000 gross having 15000 basic, if his NCP is 15 days, the earned gross is approximately 20000, basic is 7500. Let me know for which amount we have to pay PF, whether for earned gross or minimum wage ceiling of rs.15000.
If we calculate for minimum wage 15000, then it will reflect on their coresponding bonus calculation. please guide
From India
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SALARY SHEET CALCULATION.xls