Suhaskhambe
Executive Human Resource At Emcure Pharmaceuticals
Amitmhrm
Hr Practices
Sanmayaji73
Accounts Head
Neha.sharma12
...yet To Expertise
Ramu.A
Hr Executive
S_o_deshmukh
Hr Executive
+3 Others

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hello,
Currently I have got job in HR dept to take care of salary. i am not much aware about tax &
how to calculate tax,deducation
exemption, what are the head.
form16, PTax, Esic,
i need some training . so that i can take care of salary section.Please help me. i have sat & sun holiday so i can attend the training.Loction Mumbai.
waiting for replay
Thankyou,
shubhangi

From India
Hi Subhangi,
The Tax slabs are different for Male and Female employees..
For Male up to 1,10,000/- CTc is exempted whereas for Female it is CTC up to 1,50,000/- exempted from the Taxes..
HRA, CCA of rs. 825/-, Medical Allowance of rs. 1250/- is exempted from the taxes..
Form 16 is for those who don't have the PAN number..
PTax slabs have been specified.. its very low.. for every 5000/- its approx rs. 20/- only..
ESIC is contributed from both employee as employer..
1.75% of Gross salary/Month is deducted from employee side whereas 4.75% of gross salary from employer side..
Regards,
Amit Seth.

From India, Ahmadabad
Hi You had better go through Income Tax Mannual by Taxman. Hope you can get better idea about Income Tax. Suvajit
From India, Delhi
Hi Ms Shubhangi, You have to basically go deep into this how ever I am sending one draft sheet attached to this for easy calculation.Hope it will serve ur purpose. regards Sanmay

hai Amith
How r u , well freind i have seen ur message regarding the deductions for the salary and its percentages uesed but freinnd i want to know that
How will gratuity is calculated with %
waiting for ur reponse
Warm Regards
Ramu
HR

From India, Delhi
Hi Ramu..
Thanks for your appreciations...
Gratuity is a reward for long and meritorious service..
Employees Entitled:- Every employee is entitled to to receive gratuity after he has rendered continuous service for 5 years or more. Gratuity is paid at the time of termination of his services.
However the condition of 5 years continue service is not not necessary if services are terminated due to death or disablement.
Calculation of Gratuity:-
Gratuity Payable= 15 Days wages* No. of completed years of service,
15 Days Wages= Monthly wages last drawn*15/26
I.e calculation of Gratuity shall depend on the monthly salary which the employee drawing at the time of termination of service.
The amount of Gratuity payable should not exceed Rs. 3,50,000 in any case.
Hope now it will be very much clear with you.
Regards,
Amit Seth.

From India, Ahmadabad
guys how shd i as an hr deposit the tax?is there some income tax office where i need to go and give my employee details.i am starting from scratch in a new company plz help i will be obliged and about pf also how shd i set up the pf acct. of my employees is it at PF office of my state?
From India, New Delhi
guys how shd i as an hr deposit the tax?is there some income tax office where i need to go and give my employee details.i am starting from scratch in a new company plz help i will be obliged and about pf also how shd i set up the pf acct. of my employees is it at PF office of my state?

From India, New Delhi
Hi Shubangi,
For this FY the tax slabs for men Rs 1.50 lacs and for women Rs 1.80 lacs taxable income. Taxable income means income after all deducations like HRA, Prof Tax, 80c, 80D etc. and the slab is 10% on 1.51 - 3.00, 20% on 3.01 to 5.00 and 30% above 5.00. There is 10% surcharge applicable if the taxable income crosses Rs 10 lacs.
PT has to be deducted as per the slab. ESIC is 1.75% for employees and 4.755 for employers.
Form 16 has to be issued to employees once in a year before 30th april showing the total income for the year and tax deduction if any as per the prescribed format.

From India, Bangalore
Dear I Have Understood The Calculation Of Tax But Now Shd I Deduct Monthly Or Annually And Where Shd I Deposit This Money In The Income Tax Office?sorry I Am Asking Too Much Plz Bear With Me?
From India, New Delhi

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