All Gamut Of Human Resources, Electrical
Talent Acquisition Manager
Dy. Mgr - Hr & Admin.
I am balaram from Vizag - a Dist HQ of AP.
1. EPF is 13.61% for employer where it has mentioned as 13.75% ?
2. Does any one / some / whole (except HRA) differ from State to State ?
3. Gratuity is 15 days of last month pay...or ...basic ?
Please reply soon.
Just to add,
Food coupons are completely tax exempt with no upper limit + doesnot attract FBT also. Though the management has to be sensible enough in deciding the limit bandwise and capping it.
Gift vouchers are tax exempt with no upper limit but definitely attracts FBT.
I was going through the attachment on the salary break up. I have a few questions, could you please help me out.
First, can we include a component called festival allowance in the fixed part of the salary and will it be taxable.
Second, do gift vouchers (Max Rs.5000 p.a) call for income tax on the part of the employee.
I have been working on a new salary structure and trying to introduce a few new reimbursement components which should not be taxable. We have at present, medical reimbursement, book & periodical and LTA. Could you please suggest some more.
I am doing compen ben study in one of the companies...just have a small query...Instead of putting as special allowance, can an employee select his own benefits( entertainment, gym etc) nd pay the fringe benefits himself...This would be win-win for both
employer-easy to retain talent nd no additional tax burden
employee- specail allowance will have more tax burden than paying FBT on other benefits
Thanks Mahesh for sharing such information. I however want to check what is the kind of documentation required for handling the tax liability from the accounts perspective?
This is required to revamp the existing C&B structure to a more employee friendly breakup
Thank you sooooooooooooo much,indeed very informative.cud anyone let me know the standard practice followed in Corporates with reg to FOOD COUPONS.Iam trying to set the limit for the same but will be glad if seniors could provide me with valuable inputs.
My friend joined from one Central Public sector Enterprise (CPSU) to another CPSU through all India Exam followed by interview. His last drawn basic pay was higher than present basic pay in new organisation.
Let me know about guidelines central govt /department of public enterprises and Supreme Court judgments if any on above subject.
Very informative information, which helps a lot for students like me.
Can you please help me on Compensation - personal accident insurance and medical insurance scheme. I am trying to write policy for the same. But lot of difficulties. I have searched lot on net but did not find useful material.
Thanks & Regards,