Navigating Payroll: Where Can I Find a Complete Guide on Salary and Benefits?

I would be thankful if you could let me know the complete payroll processing, such as salary breakdown, ESI/PF formalities, rules related to bonuses, gratuity, leaves, TDS, etc. Is there any source from where I can get the complete information?

Thanks & Regards,
Ravina

Your questions are general, not specific. First of all, you must mention if you are working, a non-working individual, or a fresher. If you are working, please indicate whether you are using any payroll software or not. For PF, ESI, BONUS, and GRATUITY, please refer to the relevant acts.

Please specify your requirements so that you may receive the necessary information.

Regards,
P. K. MISHRA

Dear Seniors, Is it necessary to have a different bank account for PF deductions in salary? If I do not have a PF account in any bank, can PF be deducted or not? I am just a fresher to the industry, so kindly advise, and I shall be obliged.

Thanks & Regards,
Pranati

Dear Seniors, I would be thankful if you could let me know the complete payroll processing, such as salary break-up, ESI/PF formalities, rules related to bonus, gratuity, leaves, TDS, etc. Is there any source from where I can get the complete information?

Thanks & Regards,
TRIVEDI

Dear Ravina and TVM,

You have asked for very lengthy details. Salary depends upon the package or the CTC (cost to company). It comprises Basic Pay, DA, HRA, CCA, and other allowances (like conveyance, uniform, tiffin, etc.). Deductions consist of "Statutory Deductions" like EPF at 12%, ESI at 4.75%, PT as prescribed, TDS for individuals, etc., as well as "On Account" deductions (like advance/loan installments, LIC, savings, fines, penalties, etc.). The difference between the two is the "Take-Home Salary." Bonus and Gratuity are annual and terminal benefits, respectively.

Dear Paranti Devi,

You do not have to have a bank account for PF. PF is deducted from your salary and is deposited with RPFC, who maintain your account. You need to have a bank account for the credit of your salary to your account. You can also mention this bank account to RPFC authorities at the time of withdrawing the deposits from your PF account.

Dear Ravina,

All wages must be above the minimum wages for concerned grade workers/staff, and later on, your company can decide the wage structure by keeping in mind all regulations of ESI/PF/Gratuity/Bonus/leaves/TDS, etc. Please write to my company for more details at [Login to view]. I will advise you in a better way.

Dear Pranati,

If any deduction in PF is made, the employer must have a PF account (in the EPF department). Please check with your employer or authority by giving a reference of the PF deduction.

Best Regards,
Sajid

Very useful discussion. I find that there are no standard SOPs/rules regarding salary, carry home pay, CTC, gross emoluments, etc., in respect of the employees in the private industry. No two companies are paying in the set pattern. Don't you feel there is an urgent requirement to standardize the salaries.

Harinder Sarao
HR Manager
KC Royal Park Hotel
Panchkula (Haryana)
Email: hpssarao@gmail.com

Dear Bhagawan Dash,

1. You have to specify which category your industry comes under to determine the applicability of various Acts.
2. A general question will not provide you with the specific information you are seeking.
3. You can refer to the individual Bare Act to understand the registers that need to be maintained and the returns that must be submitted.
4. You can download the Ready Reckoner available on this site.
5. Please also provide details about your status regarding your designation, organization, email ID, etc., as it will assist members in offering relevant information to you.

Regards,
Nagesh Adiga
Dy. Manager-HR.

We have a Conference on Payroll, The details are as follows

The Payroll Leaders International Conference


Starts:Saturday November 27, 2010, 09:30AM IST
Ends: Saturday November 27, 2010, 06:30PM IST
Event Type: Conference
Location: Taj Residency, Bangalore KARNATAKA 560001 IN
Industry: Human Resources
Keywords:Payroll. Multi-Country Payroll, International payroll
Intended For: CEOs, MDs, Finance Directors, HR Directors, Payroll Managers
Organization:National Academy of Indian Payroll

The National Payroll Bodies of India, UK and USA have worked in collaboration to develop this unique conference which is a must for all CEOs, MDs and decision-makers who are responsible for the strategic planning and management of the payroll, taxation and HR within your organisation. The conference will provide you an opportunity to hear exclusive insights from the panel, which consists of most senior speakers. You will also benefit from the analysis provided through the dedicated Country Forums provided to you through technical updates. There is as well the opportunity to hear about the impact of current and future legislation being discussed and its impact in terms of its implementation and compliance in relation to key cost areas within your organisation, salaries, taxation and broader HR issues. You will also have an opportunity to find out more through the question and answer sessions.

For more information or to book your place,
please contact NAIP's conference agents: Accord Entertainment Pvt Ltd. Ms Ketki Tel. 022 67956772 / 022 67956766 Fax. 022 67956738
Email. [Login to view]

My dear seniors, I am learning the payroll process. Please tell me how to calculate basic salary and OT hours.

Regards,
Nagabhushana.B