Please Review This Payroll Process Xls As Designed By Me- Thankyou

Dear Sir/Madam,

I am Ruban, pursuing M.S.W (H.R) at Mar Gregorios College. I have prepared a payroll process based on my knowledge. I am seeking your suggestions and corrections so that I can improve myself. I am eagerly awaiting your valuable comments.

Thank you.

Hi,

There is no universal format for a salary structure. However, earnings should be on the left-hand side (LHS) and deductions on the right-hand side (RHS).

Dear Ruban,

I have reviewed your salary sheet and appreciate the comments provided by Sharma. I would like to request the addition of EPs8.33% MAX up to Rs.541/- only, with the remaining amount going to PF. Please update accordingly.

Regards,
ASK

Dear Sarma,

What about ESI and EPF ceiling? EPF is fine if your organization allows contributions more than 6500, but in your paysheet, there is no ceiling for ESI.

Please check.

Hi Ruban,

Attached is a payroll format for your understanding. Please review, and if you need anything further to insert, please revert.

Thanks,
Taru

Dear Friend,

Please change the PF card No. into PF Account No. Calculations and other details are okay. Please start with Basic Pay. HRA can be a lump sum or up to 40 to 50% of basic. Not everyone will be on traveling, so travel allowance is not required. Instead, you can make it as Conveyance Allowance.

In totality, it seems to be okay. All the best, dear.

Dear Mr. Ruban,

I have gone through the XLS file, and I suggest that HRA can be calculated at 50% of the basic salary instead of 25% to avoid taxation on HRA.

Hello seniors,

As I am studying, I prepared it. But I don't know the split-ups. Can anyone help me out with the split-up? I am not familiar with taxes. Could you teach me so that it will be helpful for me? Another question I have is about attendance. How should we take it, as 30, 31, or else 30.5? These are the doubts I have. Could you please clear them for me? Thank you very much for your suggestions and corrections, seniors.

Thanks and regards,
Ruban

Hello seniors,

Can anyone help me out with salary split-ups, tax, and attendance? Seniors, please help me out.

Hi Ruban,

Attendance is counted as the number of worked days + leave with pay (SL/CL/PL/ML/Special Leave) - Leave without pay. Income Tax deductions are normally handled by tax professionals. Every company has separate employees who are engaged and belong to the Chart of Accounts, Finance, or the senior-most HR person in the Compensation & Benefits division. It's a wide subject. If you want, please search on the Cite HR pages.

After becoming well-versed in the CTC format and salary statement preparation, only then can you understand the income tax deductions part.

Regards,
Sarmakpk1981@gmail.com
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