This is Karra sarma working as Sr. Officer - HR
ur prepared payroll statement is HRA, TRAVEL ALLOWANCE IS WRONG
BASICALY, HRA IS 40%/50% ON basic amount based on non-metro/metro city as per IT Exemption rules
travel allow 800/1650 for Normal Health/Physcially handcop as per IT Exemption Rules
we should not show PF & ESI as earning cloums
as per act, we should deduction PF 12% on Basic+DA/Gross amount & ESI is 1.75% on Gross Salary.
we should not deduction Employer Contribution of PF & ESI from salary. if dedcuted PF & ESI than govt authorites thread to organziation due to wrong practices.
Employer contribution should contributed by Employer only.
and Basic + DA amount mention as per Minimum Wages applicaplitiy as Govt GO
Pls see my payroll statement and feel free call to me or write a email for clarification
Please change the PF card No. into PF Account No Calculations and other details are okay
Please start with Basic Pay, HRA can be a lump sum or upto 40 to 50% of basic, Not everyone will be on travelling so travel allowance is not required Instead you can make it as Conveyance Allowance.
in Totallity it seems to be okay
All the best dear
As i am studying i prepared it. But i dont know the split ups can any one help out in split up and i am 0 in tax. Can u teach me so that it will be helpfull for me and one more how the attendance will be taken we should take as 30,31 or else 30.5...... These were the doubt i got can u pls clear my doubt. Thanks a lot your suggestion and corrections seniors. Thanks a lot
thanks and regards
as per ur advise, I have revised the format.
ESI take celing of Rs. 15000/-
PF did not take the celing due to as per act, Wages Limit for 6500/- for PF A/c No 10, 21, 22 purpose only. and remaining Ac No 1 & 2 is whole basic
if any employee not willing to pay the PF amount wheater he have earning above Rs. 6500/- take to a letter containing, i not willing to cotribute the PF ,than in the CTC Format & Salary sheet make a Zero.
I await to ur responance
Attendance is counted of number of worked days+leave with pay(SL/CL/PL/ML/Specal Leave)- Leave without pay
Income Tax deduction normally given by tax profession.
every company have sparate employee is engaged and he is belong from Chart Account or Finance or Senior Most HR person in compensation & Benfit devision & it wide subject..
any if u want pls search in the cite hr pages
after well known of ctc format and salary statement preparation. than only u can understand the income tax deductions part.