Dear Sir, 'Greeting of the day'
Sir, some employee's CTC is 65745 and he is present for 15 days, then how will he calculate the pf, because 15000 is fix 1800 pf according to this calculations, then there is a variation in the CTC.
Example - CTC- 65745( for 30 days) if any employees present 15 days Then,
Basic- 30000 Basic - 15000
Allowances - 30000 Allowances - 15000
PF - 1800 PF - 1800
Bonus - 2500 Bonus - 1250
Gratuity - 1445 Gratuity - 723
Total - 65745 Total - 33773
But as per CTC for 15 days amount is 65745/2 = 32873
Total differences 33773-32873 = 900
Dear Sir ,it is requested that , pls give me suggestion how can I manage differences in payroll system .
Amod Kumar Singh
From India, Vadodara
Sir, some employee's CTC is 65745 and he is present for 15 days, then how will he calculate the pf, because 15000 is fix 1800 pf according to this calculations, then there is a variation in the CTC.
Example - CTC- 65745( for 30 days) if any employees present 15 days Then,
Basic- 30000 Basic - 15000
Allowances - 30000 Allowances - 15000
PF - 1800 PF - 1800
Bonus - 2500 Bonus - 1250
Gratuity - 1445 Gratuity - 723
Total - 65745 Total - 33773
But as per CTC for 15 days amount is 65745/2 = 32873
Total differences 33773-32873 = 900
Dear Sir ,it is requested that , pls give me suggestion how can I manage differences in payroll system .
Amod Kumar Singh
From India, Vadodara
If any organization process pay roll from CTC, the problem which has been raised in the post is common. Pay roll should be from monthly gross. Even gratuity amount in CTC will not be 50% for absenteeism as per definition of continuous service under PG Act.
There is no scope to match it mathematically as the logics are different for different items.
S K Bandyopadhyay ( WB, Howrah )
CEO-USD HR Solutions
From India, New Delhi
334There is no scope to match it mathematically as the logics are different for different items.
S K Bandyopadhyay ( WB, Howrah )
CEO-USD HR Solutions
From India, New Delhi
CTC is not linked to attendance while the salary drawn depends on actual attendance. PF has to be calculated for the ceiling amount of Rs. 15,000 irrespective of the actual salary being anything more than the ceiling. Similarly, the leave salary, gratuity, bonus etc., all would be calculated on full salary. So attendance of only 15 days would reduce the salary in proportion but the same ratio would not apply for CTC.
From India, Mumbai
From India, Mumbai
Dear Sir,
If any employee joins after 58 years then we can keep him on parole or have to keep in consultant, if kept on parole then what will the compliance be deducted, please guide me.
Amod Kumar Singh
9512526702
From India, Vadodara
If any employee joins after 58 years then we can keep him on parole or have to keep in consultant, if kept on parole then what will the compliance be deducted, please guide me.
Amod Kumar Singh
9512526702
From India, Vadodara
If the owner of the company draws salary, will his bonus and gratuity be deducted? Amod Kumar Singh
From India, Vadodara
From India, Vadodara
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Salary-Note.doc
SALARY SHEET CALCULATION.xls