Formulated Salary Structure Calculator

Hi All, I have formulated Salary Structure Calculator for the use of our members in HR and Finance. Appreciate your comments/suggestions to make more effective and useful.
Best Regards,
Dada

dear dada,
in your excel sheet, with eample figures, the pf contribution amount of the employer seems incorrect- basic pay is Rs 20,667 and pf contribution which should be 12% (Rs2480) instead of Rs 780/ , pls advice
thanks
raghuvir

Raghuvir,
As per rule employer need to pay only up to 12% of 6500 if the basic pay is above 6500/-.
and as per rule employee also has 2 options
1.pay 12% of the basic pay or just 12% of 6500/- if his basic pay falls above 6500
2. he can make voluntary contributions too. But employer need to bother only up to the ceiling specified as per PF Act-ie 6500/-.
Let me know if not correct,thanks.
Thanks
Bindu
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good work! although u can improve it further by adding more allowances & Name of employee, other details along with co. name to make it more presentable & professional.
to Bindu:
PF deduction issue:
the rule is that whatever the Basic + DA of existing employee(PF contibution purpose), employer has to pay 12% along with Emplyees share of 12% with other admin Exp.
no. 2 is that Employer's will contribute 8.33% to pension fund upto Rs. 541/- and rest of money will be diverted to employess provident fund.
hence wether empoyee earned basic + da to 6,500 or 10,000/- employer has to pay 12% plus admin chgs (0.5% & 1.1%)
hope i make u all clear
Manish Gupta

Thanks Manish,
Since very purpose of this tool is to arrive at CTC breakup, total contribution of 12% by Employer is considered irrespective of the fact that the said proportion will be apportioned among EPF, Pension Fund + Admin Charges (additonal).
Best,
Dada

Good Morning Dada
It's the good calculator.
However , I need to comment as under :
1) LTA is part of CTC
2) HRA can be 40% or 50% of Basic in view of tax free facility.
3) Car Lease option is not common to all except senior level recruitment.
Rest seems to be ok.
Thank you,
CVH

Hi, Dada,
Good Morning this is realy excellent job what you done keep it up. I request to you can you sent the password to me, my email add. is [Login to view] + 91 9880768898
Thank you,
Suresh K.
Bangalore
+ 91 9880768898

Hi Raghu
As far as PF is concern you have option to contribute on actual basic or on Max celing ie 6500/-. It depends on company which one to choose, becasue there is cost involved in this as employer has to bare admin, inspection, charges of PF.
sanjeev

Dear Mr.Parmar,
Thank you so much for sharing very valuable information with all of us
You done fabulous job in preparation data on excel if you share with me the advance level excel formulas with me [Login to view]


with Regards,
Ashwini Kadam

Thanks to share this format, its really very useful to me. can you please tell us the protected sheet password so that I can change it accordingly.
Thanks & Regards
Amit Shekhar Jha