sureshkumaravel2005
4

Dear, Pls note this simple salary structure Basic 50% HRA 20% Conv 20% and SP. Allowance 10% Best Regards, Suresh.K
From Singapore
amma.venu@gmail.com
Payslip for the month of May 2012

Employee No Location

Name Department

Bank Name Designation

Bank Acc. No. Division

PF No. Total Days 31

ESI No. LOP 0

PAN No. Effective Work Days 31



Earnings Rs. Deduction Rs.

BASIC 9000 PROVIDENT FUND 780

BASIC ARREAR 1004 PROF TAX 200

HRA 3600 STAFF LOAN 3190

HRA ARREAR 402

TRAVELLING ALLOWANCE 800

VARIABLE ALLOWANCE 2570

VARIABLE ALLOW ARREAR 602

INCENTIVE 4205

MEDICAL REIMBURSEMENT 1250

BONUS 3500

HUL INCENTIVE 335

Total Earnings 27268 Total Deduction 4170

Net Pay : Rs. 23098.20 (Rupees Twenty Three Thousand Ninety Eight And Twenty One Paise Only )

Employer's Contribution

Employer's PF 780

Employer's ESI 0

Gross 28048







My Question

Total Salay as per company 28048

Deducation of PF 1560

26488

D14-d23 23878

double time PF 23098











What is the Roule to Deduct the PF and How much they are deducting as per this informtion, and how much company need to pay the PF to the empoyee, and how can we know that they are paying that amount to PF A/c of the Empolyee

From India, Bangalore
amma.venu@gmail.com
Payslip for the month of May 2012

Employee No Location

Name Department

Bank Name Designation

Bank Acc. No. Division

PF No. Total Days 31

ESI No. LOP 0

PAN No. Effective Work Days 31



Earnings Rs. Deduction Rs.

BASIC 9000 PROVIDENT FUND 780

BASIC ARREAR 1004 PROF TAX 200

HRA 3600 STAFF LOAN 3190

HRA ARREAR 402

TRAVELLING ALLOWANCE 800

VARIABLE ALLOWANCE 2570

VARIABLE ALLOW ARREAR 602

INCENTIVE 4205

MEDICAL REIMBURSEMENT 1250

BONUS 3500

HUL INCENTIVE 335

Total Earnings 27268 Total Deduction 4170

Net Pay : Rs. 23098.20 (Rupees Twenty Three Thousand Ninety Eight And Twenty One Paise Only )

Employer's Contribution

Employer's PF 780

Employer's ESI 0

Gross 28048







My Question

Total Salay as per company 28048

Deducation of PF 1560

26488

D14-d23 23878

double time PF 23098











What is the Roule to Deduct the PF and How much they are deducting as per this informtion, and how much company need to pay the PF to the empoyee, and how can we know that they are paying that amount to PF A/c of the Empolyee

See the attachment and

From India, Bangalore
Attached Files (Download Requires Membership)
File Type: xls Pay slip.xls (18.5 KB, 104 views)

Pujasingh9jan
I think the Engineer does not comes under ESI bracket.so, ESI contribution should not be deducted. Puja
From India, New Delhi
shivakumarreddy77@gmail.com
The salary break up seems to be wrong as the basic salary is so less and ESI is not applicable to employees whose salary is more than 15000/-
From India, Hyderabad
Ashoknegidi
169

Dear Anjali,
pls find the below salary strcuture.
Without deductions
Basic Salary 40% 10000
HRA 30% 7500
Convenyence 800 (Fixed) 800
Speacial Allowances 6700
Gross Salary 25000
With deductions
Basic Salary 40% 10000
HRA 30% 7500
Convenyence 800 (Fixed) 800
Speacial Allowances 6700
PF 780
ESIC 0
Food Coupons 1000
TDS 0
In hand 23220
Thanks & Regards,
Ashok Negidi
HR-Hyderabad
M: 9603366120.

From India, Hyderabad
saswatabanerjee
2383

Ashoks structure looks good
Conveyance allowance of 800 is tax free anything above is taxable so we need to stay there
Travelling allowance makes no nense unless he is not being paid travelling money for going anywhere
Higher hra helps where he is paying rent and can get tax benefit for it
PF max limit is 780 but you can pay more if you wish. Most don't. Also Anyine joining at above 6500 and not having an existing pf account can opt out of pf
A simple structure as given by Ashok is a good idea. There is no need to make it more complex.

From India, Mumbai
nhirulkar
1

Dear anjali
if salary is more than 15000/- in this case that persons already cross the ESIC Limit
your consultant give you the wrong salary structures.
when you can prepare the salary structures all the allowances are calculated in % e.g. Basic X 20% = HRA
Regards,
Nikhil

From India, Pune
munnabhai1971
12

Dear Anjali,

To set up your companies salary structure you should first take approval of your management that what should be the ratio of Baic : Gross salary or CTC

In normal cases it is 40/50/60 :100.

Once you have decided this ration please note that this is the most affecting financial components in your policy.PF/Gratuity/Bonus/Leave encashment these all are depeingin upon this ratio only.

As a good practice to meet with fair/living wages you can put this ration as

50:100 to the CTC.i.e 50% Basic of the CTC not Gross.For this prupose you have to finalize your salary structure in CTC not upon Gorss monthly salary.

Ohter ratio may be

HRA-It is minimum 5% but as a good practic you can divide it in to 3 categories

Sr.Staff- 40% of Basic Salary ( As it is not taxable)

Middle staff-30%

Jr.Staff/Woker-25 % of Basic salary.

Conveyance allowance may be 5%

Edgucation allowance -2%

It is suggested to you to remove the Special Allowance from the structure as it may lead dispute in future.You can say (Basic + D.A.)

Please also note that Coveyance allowance 800/- pm is exempted and Education allowance Rs.200/- pm ( For 2 children) is exempted from Tax.

As your consultant provide you the portion of Basic which is too low please dont accept that.

Other Annual earning coponent may be

Ex-gratia/Bonus-8.33% of Basic or Gross

Medical Allowance-depends upon grade but below Rs 15000 pa

LTA- depends upon grade but below Rs 15000 pa

PF share

Esice share

PTax

This may be use ful for you

Mangesh Wakodkar

Aurangabad


From India, Pune
Tapas samal
basic-60% of ctc
hra-40% of basic
conv-800 tax exampt
medical allowances-1250 tax exampt,reumbrusment
other allowances rest of ctc
deduction part
pf-12% of besic from employee sides
mess -As per the calculation
then rest is the net pay/take home pay

From India, Mumbai
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