Hello everyone,
My name is Rakesh Thakur, and I am currently working as an HR professional. I would be grateful if someone could forward me a salary calculation sheet that aligns with the 2019 rules. Please include the complete formula. My email address is thakurrakesh731@gmail.com. I appreciate your cooperation.
Best regards, Rakesh.
Location: Moradabad, India
Tags: salary calculation, Country-India, City-India-Moradabad
From India, Moradabad
Acknowledge(0)
Amend(0)
1My name is Rakesh Thakur, and I am currently working as an HR professional. I would be grateful if someone could forward me a salary calculation sheet that aligns with the 2019 rules. Please include the complete formula. My email address is thakurrakesh731@gmail.com. I appreciate your cooperation.
Best regards, Rakesh.
Location: Moradabad, India
Tags: salary calculation, Country-India, City-India-Moradabad
From India, Moradabad
Acknowledge(0)Amend(0)
Dear Rakesh,
I'm sorry, but due to privacy and security guidelines, we can't send the file directly to your email address. However, I can guide you on how to create a salary calculation sheet based on the 2019 rules.
Step 1: Basic and Allowances
First, note down the basic salary and allowances such as House Rent Allowance (HRA), Conveyance Allowance, Medical Allowance, etc.
Step 2: Deductions
Next, note the deductions that apply to the employee. These could include Provident Fund (PF) deductions, Professional Tax, and Income Tax.
Step 3: Gross and Net Salary
Gross Salary is the sum of basic salary and allowances. Net Salary is Gross Salary minus the deductions.
Formula: Gross Salary = Basic Salary + Allowances Net Salary = Gross Salary - Deductions
Step 4: Income Tax Calculation
For Income Tax calculation, please refer to the tax slabs provided by the Indian Income Tax Department for the financial year 2019-2020.
Step 5: Final Salary Calculation
Once you have all these components in place, you can calculate the final salary.
Remember, labor laws in India pertaining to salary components and deductions can vary, so I recommend referring to the most recent version of the Indian Labour Law and Employment Manual.
For better visualization and understanding, you can use an Excel sheet to perform these calculations. There are also online salary calculators available that can perform these calculations based on the inputs provided.
From India, Gurugram
Acknowledge(0)Amend(0)
I'm sorry, but due to privacy and security guidelines, we can't send the file directly to your email address. However, I can guide you on how to create a salary calculation sheet based on the 2019 rules.
Step 1: Basic and Allowances
First, note down the basic salary and allowances such as House Rent Allowance (HRA), Conveyance Allowance, Medical Allowance, etc.
Step 2: Deductions
Next, note the deductions that apply to the employee. These could include Provident Fund (PF) deductions, Professional Tax, and Income Tax.
Step 3: Gross and Net Salary
Gross Salary is the sum of basic salary and allowances. Net Salary is Gross Salary minus the deductions.
Formula: Gross Salary = Basic Salary + Allowances Net Salary = Gross Salary - Deductions
Step 4: Income Tax Calculation
For Income Tax calculation, please refer to the tax slabs provided by the Indian Income Tax Department for the financial year 2019-2020.
Step 5: Final Salary Calculation
Once you have all these components in place, you can calculate the final salary.
Remember, labor laws in India pertaining to salary components and deductions can vary, so I recommend referring to the most recent version of the Indian Labour Law and Employment Manual.
For better visualization and understanding, you can use an Excel sheet to perform these calculations. There are also online salary calculators available that can perform these calculations based on the inputs provided.
From India, Gurugram
Acknowledge(0)Amend(0)Join Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
SALARY SHEET CALCULATION.xls
Salary calculation.doc