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Hr Generalist
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Software Engineer
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Ass.hr Manager
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Please suggest me a salary breakup of 25000/- per month salary and after all the break up how much amount will still be taxable. Thanks
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Hi Shilpi,
The contents of the salary break up is as below, you can prepare it at the suitability of your own. HRA would be 40 to 60% of basic.
Basic
HRA
TA
Other Allowance
Mobile Reimbursement / Month
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Hope it would help you to prepare the same at your end..
Regards,
Amit Seth.
Thanks a lot. I would like to know as i am working in Indore , is city compensation allowance is taxable here or we can get exemption from tax on this allowance.
Hi Amit,
I have seen some really good suggestions in some old posts that you have given to people regarding their salary breakups. Can you please help me figure out a breakup for a salary where the company has just given the total fixed sum as Rs. 100,000/- per month?
Please help me with some inputs so as to what all componenets should be include in the breakup to maximize on the monthly take home and minimize the tax liability?
Here are a few details about the company..its a small company with only 5 employees in India so I am not sure if they are bound to take care of PF. professional tax, Gratuity, Super annuation etc or not..in either case what all percentages should be assigned to BASIC, HRA, Medical allowance etc to minimize the taxes..
Would appreciate any help at the earliest possible..Thanks!
Regards,
AM
HI Amit,
Please let me know how we will decide Basic Salary. Is it any persentage of CTC.I can calculate all things on the basis of basic salary. SO please hepl me and give me your precious suggestion that how i would decide basic salary on different salaty break up.
Thanks ,
Shuchi
Hi Anshul,
For your reference have appended a salary calculator. It lists out the components that should be part of the Salary considering that the co is not covered for PF, ESI etc. All you need to do is enter the Annual Salary in cell B7. As to reduce the tax liability you can introduce reimbursements for telephone usage, vehicle running & maintenance, Sodexho coupons. All these are tax free if bills are submitted for the specified amount.
If you need any clarifications please feel free to ask.

Attached Files
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File Type: xls Salary Calculator.xls (14.0 KB, 2226 views)

what abt pf & esi deductions not mentioned in the attachment. Can u kindly provide the same for it.
hi ur salary break up was is of great help, but if u could send it with pf & other deduction as well as showing take home amount, it would b of great help. MP
Please find new version of Salary Master with new Feactures..

Totally Usefriendly program.
You can enter your Company name,Address,Department,Designations
You can set Categoeries of Fixed earning-Other Earning-Fixed deduction-Other deduction in Salary Slip.
You can set limit of ESI,P.F,Income Tax Slab for Man and Woman,Surchage setting,Professional Tax.

Program is Designed on Two mode
(1) In Auto mode salary slip will be generated as per Your predefined data given in "Company Detail Sheet"
(2) In Manual mode Salary Slip will be generated as per Manual detail given by You.It will not concern with the data given by you in "Company detail sheet"
Ex: We need to generate salary for Regular Employee as per company Policy for that You may put this employees on Auto mode and it will generate Salary slip as per your predefined data (If Basic is 25% of Gross than auto calculate it)But Some Employees are Temperaroy or We don't Follow Rules as per Regular employee so that This Type of Employee Put on Manual mode and enter your Data manually(here You have manually enter Basic and other details).

Software Contains:

1-Attendance Register.
2-Payroll Register.
3-Generate Salary Slip.
4-Track Employees' Leave history.
5-Track Income Tax of All Employee.
6-Print out Leave History of Employee.
7-Overtime Monitor.
8-Master Data sheet of All Employees.
9-Leave Calculation sheet.
10-ESI Calculation(Set Your Requirements)
11-P.F Calculation
(Here there are Two Options one is if Basic<=6500 than Basic*12% otherwise 6500*12%
Second is 12% of Basic)
12-Pension Scheme (not more than 541 rs submission)
13-TDS Calculation
14-Annual Salary statement of Employee and Employer
15-Employer Monthly Salary statement
16-Income Tax Calculations
17-Generation of Form No-6 (For ESIC)
18-Generation of Form no-3A (PF)
19-Generation of Form no-6A(PF)

Limitation: You have monitor Leave of employee each month when It goes minius Red indication is glow on that cell so You have to Put it on LWP otherwise minus leave will effect on salary sllip generation.
Requied Attention: Please be vigilant about Auto and Manual mode and P.F Selection.

If You find this is useful for You than Don't miss to deop Thanks...

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Please find Following steps to run program.
Please chase the steps as per the given sequence.

First open "Company Detail Sheet"
1-Open "Company Detail Sheet"
2-Change Company name and Address.
3-Change Salary discriptions: By default I gave some categories for Fixed earning/Reimberancement/Other deductions. Change the Names of This Categories as per your reqirements.
4- As you enter detail mentions in step 3 name of the categories will appear in auto generation salary just below the Salary discription.
Enter percentage as per your company requirements to generate salary of all employees(By default I gave Basic= 25% of gross .You can change 25% and enter your %)
5-Enter % of ESI from Employee and Employer and For P.F Choose your Options.
6-For Professional tax Slab enter your criteria.
7- Enter Name of Departments/Designation of Employees of your Orgenizations.
8-Enter Tax Slab for man and Woman.

second open "Master Data Sheet"

1-Enter Employee name-gender-employee code.
2-select his/her designation-department
3-Enter Pan no-Bank A/C No-Bank name-P.F no-ESI No-DOB-DOJ-Location
4-Enter Employees Gross salary/Month
5-Here after If You choose Auto mode than Salary slip will be generated autonatically as per (%wise detail) data given by you in "Company detail sheet"(nomally for Regular Employees put Auto mode).But if You don't want to follow the rules enter by You in "Company detail sheet" put manual mode here You can Enter his/her Basic-Hra and all detail of salary manually(normally Employee who has fixed deduction like 800 rs/month 900 rs/month etc.).
6- Enter Amount of OT/Hr if Employee do OT
7- Enter leave detail,Previous Year Leave-This Year Leaves.
8-Enter Rentpaid by Employee for exemption under section 10&17
9-Enter Amount for section 80c and 80D for U/S VIA deduction.

Thrid open "Attendance sheet according to perticular Month"

1- Enter Attendance/Leave/Holiday of Employee
2- enter Overtime of The Employee.

Forth open "Payroll sheet according to perticular Month"

1- All salary detail and attendance will automatically carry forward. You have to enter only reimberance detail and other deduction detail only
2- Salry will generate as per your data.
3- Enter Salary Amount Which You have Paid.
4-Select Type of Payment.

Most of remaning sheet are monitoring or summary sheet.
The in hand salary largely depends on the salary package components like basic salary, HRA etc.
It cannot be identified simply by CTC amount.
I found a good salary in hand calculator here:
In Hand or Take Home Salary Calculator for India | AM22 Technologies
Just enter the basic salary of your salary package and the calculator would calculate the rest components on the basis of common package structures. if you want you can modify other values as per your own salary structure.
The calculator also suggests various options on how to increase your monthly in hand salary by making full use of tax rebates.
Hope you will like it.
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