Dear Benny
As per the as per Kerala Municipal Act, 1994 (Section 254) it is mandatory for all employees who are drawing a half yearly salary of more than Rs. 12,000/- to pay profession tax. This tax is to be paid to the respective corporation/ municipality in which the company is situated. The tax slab is as mentioned in the below table.
Sl.No Half Yearly Income Half Yearly Tax
1 Rs 12,000 to Rs 17,999. Rs 120
2 Rs 18,000 to Rs 29,999 Rs 180
3 Rs 30,000 to Rs 44,999 Rs 300
4 Rs 50,000 to Rs 59,999 Rs 450
5 Rs 60,000 to Rs 74,999 Rs 600
6 Rs 75,000 to Rs 99,999 Rs 750
7 Rs 1,00,000 to Rs 1,24,999 Rs 1,000
8 Rs 1,25,000 and above Rs 1,250
The delayed payment will attract a penalty at the rate of 1% per month. Also the penalty for not paying the profession tax will charge a fine of Rs. 5000/-.
For the submission of profession tax, it is mandatory that the below details are furnished.
Sl.No Name Designation Monthly Salary Salary x 6 months Profession Tax
Regards
Abja