Hello Friends,
Hope you are doing well,
I want to make salary slips in a standard format. Since the company is a start up company, they are not providing medical allowance or PF services. Hence, is there any standard format excluding these two fields. For now we include following columns-
Particulars | Yearly Amt. | Monthly Amt
1. Basic
2. HRA
3. Misc. Allowance
4. Conveyance Allowance
__________________________________________________ ____
GROSS SALARY
---------------------------------------------------------------------------------------
5. Company Performance Variable
6. Employee Performance Variable
__________________________________________________ _____
TOTAL CTC
---------------------------------------------------------------------------------------
This is the format that we are using temporarily, The variables are based on the CTC for example - 2,24,000/14 = 16000. Employee's per month salary is Rs. 16000/- for 12 months and rest 2 month's salary ( Rs.32000/-) is considered as a Bonus which is depending upon employee employee's company and employee performance.
Hence, are there fixed percentage applicable by the govt. for Basic, HRA, Misc.Allowance and Conveyance Allowance? If yes, can you please provide me some articles or reference books, website or anything that will help me to understand the basic payrolls (in India) in startup companies?
Thanks and Regards,
Rachana
Hope you are doing well,
I want to make salary slips in a standard format. Since the company is a start up company, they are not providing medical allowance or PF services. Hence, is there any standard format excluding these two fields. For now we include following columns-
Particulars | Yearly Amt. | Monthly Amt
1. Basic
2. HRA
3. Misc. Allowance
4. Conveyance Allowance
__________________________________________________ ____
GROSS SALARY
---------------------------------------------------------------------------------------
5. Company Performance Variable
6. Employee Performance Variable
__________________________________________________ _____
TOTAL CTC
---------------------------------------------------------------------------------------
This is the format that we are using temporarily, The variables are based on the CTC for example - 2,24,000/14 = 16000. Employee's per month salary is Rs. 16000/- for 12 months and rest 2 month's salary ( Rs.32000/-) is considered as a Bonus which is depending upon employee employee's company and employee performance.
Hence, are there fixed percentage applicable by the govt. for Basic, HRA, Misc.Allowance and Conveyance Allowance? If yes, can you please provide me some articles or reference books, website or anything that will help me to understand the basic payrolls (in India) in startup companies?
Thanks and Regards,
Rachana