I need to design a salary package for an MD & Director. He is going to be the MD in one or two companies and a director in another three companies. His salary in each company is 36 lacs per month. Apart from this, he is entitled to a house, cars, driver, PSO, fuel, maintenance, cook, domestic help, etc.
He is a foreigner and is on the Indian board. Can anyone please design a package that can ensure maximum take-home pay, keeping in mind Indian taxation laws? I shall be grateful to you as this will be a great help.
Thanks again.
From India, New Delhi
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1He is a foreigner and is on the Indian board. Can anyone please design a package that can ensure maximum take-home pay, keeping in mind Indian taxation laws? I shall be grateful to you as this will be a great help.
Thanks again.
From India, New Delhi
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Hi, I need to design a salary package for Directors. He is a director in four companies, and each company will pay 24 lakhs per annum. In addition to this, he will receive a car, driver, fuel, and maintenance.
Maximizing Take-Home Pay
Can anyone please design a package that can ensure the maximum take-home pay, considering Indian taxation laws? I would be grateful for your assistance as this would be of great help.
Thanks again.
From India, New Delhi
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Maximizing Take-Home Pay
Can anyone please design a package that can ensure the maximum take-home pay, considering Indian taxation laws? I would be grateful for your assistance as this would be of great help.
Thanks again.
From India, New Delhi
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Your question is unclear. You have already decided on the package you are going to offer your expat director. So, what do you need help with in designing? Are you talking about structuring it between the various companies?
From India, Mumbai
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From India, Mumbai
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Tax Benefits on Payment Basis
If you see the package, the tax benefits are available on a payment basis.
Following the same salary package of INR 3,600,000.00 per annum, he will be required to submit bills totaling INR 1,820,000.00 (INR 900,000.00 for expenses reimbursements, INR 720,000.00 for house rent receipts, and INR 200,000.00 for LT bills) to the company's accounts department.
For the Accounts Department
It is a hectic process to process all bills and verify them.
From India, Jaipur
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If you see the package, the tax benefits are available on a payment basis.
Following the same salary package of INR 3,600,000.00 per annum, he will be required to submit bills totaling INR 1,820,000.00 (INR 900,000.00 for expenses reimbursements, INR 720,000.00 for house rent receipts, and INR 200,000.00 for LT bills) to the company's accounts department.
For the Accounts Department
It is a hectic process to process all bills and verify them.
From India, Jaipur
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Creating a Competitive Salary Structure.doc
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