Hi All,
Our company is going to be contribute Bihar Chief Minister Relief Fund
in this regards our co's management decides the deduction for one day salary from every employee side
Could anyone suggest me how I would place this contribution on salary slip. Pls. suggest me.........
The detail of the slaray slip is given below:
Basic 5000.00 P.Tax 200.00
DA 10950.00 TDS 300.00
HRA 10000.00 Leave taken
Medical All. 1250.00 (Deduction) 00.00
Conveyance All. 800.00 Advance taken
Other Allowance 00.00 (Deduction) 00.00
GROSS SALARY Rs 28,000.00 GROSS DEDUCTION Rs 500.00
NET SALARY PAYABLE:Rs 27,500.00
Rs Twenty Seven Thousand Five Hundred Only
From India, Delhi
5Our company is going to be contribute Bihar Chief Minister Relief Fund
in this regards our co's management decides the deduction for one day salary from every employee side
Could anyone suggest me how I would place this contribution on salary slip. Pls. suggest me.........
The detail of the slaray slip is given below:
Basic 5000.00 P.Tax 200.00
DA 10950.00 TDS 300.00
HRA 10000.00 Leave taken
Medical All. 1250.00 (Deduction) 00.00
Conveyance All. 800.00 Advance taken
Other Allowance 00.00 (Deduction) 00.00
GROSS SALARY Rs 28,000.00 GROSS DEDUCTION Rs 500.00
NET SALARY PAYABLE:Rs 27,500.00
Rs Twenty Seven Thousand Five Hundred Only
From India, Delhi
In deductions column u have to mention the reason as Bihar CM Relief Fund. Dont directly deduct it without mentioning the reason. Correct me if i am wrong
From India, New Delhi
From India, New Delhi
Hi,
Calculate one days salary on the monthly gross salary and deduct the amount. The PF and PT contribution will also change as per that and then you can pay the net salary.
I think if you are contributing to the chief minister's relief fund, then you can also claim for tax exemption for that amount for each employee.
From India, Mumbai
Calculate one days salary on the monthly gross salary and deduct the amount. The PF and PT contribution will also change as per that and then you can pay the net salary.
I think if you are contributing to the chief minister's relief fund, then you can also claim for tax exemption for that amount for each employee.
From India, Mumbai
Hi Siva, Thanks for your suggestion, yeah we are thinking in tax exemption segments also but I don’t know to whom or how I can approach for tax exemption. Pls. advise …………… Kind Regds Rekha
From India, Delhi
From India, Delhi
hi,
this is misbah here. i am from mumbai. right now i m doing my MBA in HR from gahlot institute of management from mumbai univercity. in our collage we have campus placement but i want to go offcampus also because i don't think so that i'll get a good one here.. although i am a fresher. so what should i do to get placement in a corporate? do i need to have any attractive CV.? if yes thn what type of CV?
please help me because i have only 1 month to have placement.
From India, Mumbai
this is misbah here. i am from mumbai. right now i m doing my MBA in HR from gahlot institute of management from mumbai univercity. in our collage we have campus placement but i want to go offcampus also because i don't think so that i'll get a good one here.. although i am a fresher. so what should i do to get placement in a corporate? do i need to have any attractive CV.? if yes thn what type of CV?
please help me because i have only 1 month to have placement.
From India, Mumbai
Good initiative by your company. In addition to the above suggestions, please also ensure you take the consent from the respective employee before deducting a day's pay and also give exemption of tax benefit to respective employees.
From India, Madras
From India, Madras
We had already took the consent from the respective employees all are agreed for this contribution. I am the only person in HR in my company and I m not aware of couple of things for exemption of tax benefit, should I approach our company’s CA for the same
If you know the process then pls. let me know………
From India, Delhi
If you know the process then pls. let me know………
From India, Delhi
Hi, As far as tax implication is concerned , if your payroll is mangaged by third pary then they should be in position to do it. Regards, Tikam -
From India, Pune
From India, Pune
Hi
The Amount you want to deduct will be eligible for Deduction. Your Accounts depptt which prepares your pay slip knows and you may get in touch with them.
However, what ever amount you contribute as deduction is eligible for IT Exemption
Best TRegards
Dr P.S.S.Murthy
From India, Hyderabad
The Amount you want to deduct will be eligible for Deduction. Your Accounts depptt which prepares your pay slip knows and you may get in touch with them.
However, what ever amount you contribute as deduction is eligible for IT Exemption
Best TRegards
Dr P.S.S.Murthy
From India, Hyderabad
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