First of all thank u very much for the file format.But is this file prepared as per the rules & regulations in Maharashtra ? coz slabs of ptax in Maharashtra are as follows
Rs. 2500 - P Tax is NIL
Rs. 2500 - Rs. 3500 - Rs.60
Rs. 3500 - Rs. 5000 - Rs.120
Rs. 5000 - Rs.10000- Rs. 175
Rs. 10000 & above P Tax is Rs. 200 per month except Feb
Rs.300 in the month of Feb( Max of Rs.2500 per annum )
Can u work it out for maharashtra,PF & all ?
From India, Pune
I have gone through the calculator, but this has some confusing statements due to changes or amendments in laws/policies.
1.In PF calculator you have mentioned 8.33% goes to PENSION Fund
3.67% goes to PF Fund from employee's contribution which is actually goes from employer's contribution.
Employee: 12% (P.F)
Employer: 3.67% Provident Fund (A/c 1) + 8.33% Pension (A/c 10) + 1.10% Admin Charges on PF (A/c 2) + 0.50% EDLI (A/c 21) + 0.01% Admin Charges on EDLI (A/c 22) =>13.61% on basic
2. Service Tax has been revised now and its 10% inspite of 12%, edu cess and higher sec cess are same.
3.It's not clear for which state PT is been calculated. In MP there are slabs fixed for the same:
120000-150000 1000 / year or 83 / month (difference adjusted in last deduction)
150000-180000 1500 / year or 125 / month
> 180000 2500 / year or 212 / month
but formulae used in calculator are something different.
Rest of the calculator is OK.........yes....the checklist is really useful.
From India, Indore
2. the following mentioned company employee salary how to considered and % rate.
Basic, HRAMisc. AllowanceMedical AllowanceConveyance AllowanceEducation AllowanceConveyance Re-imbursementOtherArrearsBonusLTA
From India, Bangalore
iam neha MBA (HR), would also like to know all about 'payroll and compensation system' in companies..
As a fresher i dont about this function much
could u please help me out in this
even i tried to download this attachment but it was not opened.
could you please send me relevant information on 'Payroll & compensation sytem' on my e-mail id-
i'll be very greatful to you sir
hope for your reply
From India, Pune
the calculator which you sent is useful.
Can you please help me in designing an offer letter with new tax details.
It will be useful to me in doing the revision of offer letters to employees with tax exemptions/eligibility criteria.
From India, Madras