Taxable & Non Taxable Components of a Salary Structure

ambersaleem · #1 11-09-2009, 05:16 PM

Hi all!

Kindly help me on the below points

Ours is newly started Steel Bldngs(Pre Engineered Buildings) Manufacturing Company based at Hyderabad.

As of now, we are disbursing employees NET SALARY without any breakup & without any deductions towards professional tax, etc. The management has now decided to register the company under PF and accordingly restructure the staff salaries.

Hence, I highly appreciate if anybody could pls. provide a good SALARY STRUCTURE(in accordance with the Steel Manufacturing Industry standards)

Also pls. suggest me the different TAXABLE & NON TAXABLE Components within the salary structure/breakup.

All Seniors, your immediate resoponse would be of great help in this matter.

Best Regards

Ambersaleem

mba_suneetha · #2 11-09-2009, 06:13 PM

Hi Ambersaleem,

I think as a Start-up company you can implement Payroll Champion from www.processweaver.in , the system will provide all information and you can maintain all salary components.

Thanks,
Suneetha

ambersaleem · #3 12-09-2009, 10:25 AM

Dear Suneetha,

Thanks for your response and kind advice. From your reply it seems that you are in to marketing of software applications!

Nevertheless, in the current scenario where we have a low employee, I could not recommend the management to go for any kind of software implementation!

Other peers!!! Pls. do consider helping with your really helpful replies/clarifications.

regards

Ambersaleem