Hi team,
I have a proprietorship marketing agency consisting of 9 employees. I intend to issue them a payslip and also deduct TDS from their salary. What kind of salary breakup components can I have here? I understand there are restrictions on size of the organization for certain components like PF. But would appreciate if you can suggest components which can be employee friendly and help in lesser deductions without adding burden on the company.
Thanks..
From India, Mumbai
I have a proprietorship marketing agency consisting of 9 employees. I intend to issue them a payslip and also deduct TDS from their salary. What kind of salary breakup components can I have here? I understand there are restrictions on size of the organization for certain components like PF. But would appreciate if you can suggest components which can be employee friendly and help in lesser deductions without adding burden on the company.
Thanks..
From India, Mumbai
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Standard components are Basic, HRA, Medical Allowance, Conveyance, and Special Allowance.
Again it is up to you to term the allowances. Sharing a useful article on this and hope it helps.
https://blog.greythr.com/maximize-ne...your-employees
From India, Bangalore
192Again it is up to you to term the allowances. Sharing a useful article on this and hope it helps.
https://blog.greythr.com/maximize-ne...your-employees
From India, Bangalore
PF Coverage Salary Component under New PF Rule.pdf
Salary-Note.doc
SALARY SHEET CALCULATION.xls