Pay-rolling Process

Respected Seniors,
Greetings for the day....!!!!!
Seniors I am working as a HR Executive in a IT company at Chandigarh. I am the only HR in the company and i have problems in the pay-rolling process.
Please help me with the detailed practical concept of pay-rolling that what is it, its rules, components and else.
how salary is to be prepared, PF, ESI, deduction and all that.
I shall be highly thankful to you for this act of kindness.

I Components of salary:

a. Earnings

1. Basic 30 to 40% of gross

2. HRA 50% of basic for metro cities & 40%of basic for other cities

3. Conveyace till 800 per month not taxable

4. Medical Allowance till 1250 per month not taxable

5.you can also add education allowance, CCA or DA.

b. Deductions

1. if basic<= 6500 it is compulsory if basic > 6500 its not compulsory under some circumstances

PF e'r 13.61% of basic, e'e 12% of basic(from e'r contribution 8.33% goes to pension scheme remaining goes to PF scheme)

2. ESIC applicable if gross< 15000

esic e'r 4.75% of gross, e'e 1.75% of gross

3. gratuity 15/26 of basic.

4. bonus 8.33% of basic.

5. Professional tax slab varies from state to state

6.TDS:

I TAX RATES FOR INDIVIDUALs

Upto 2,00,000 - Nil

2,00,000 to 5,00,000 - 10% of the amount exceeding 2,00,000

5,00,000 to 10,00,000 - Rs.30,000 + 20% of the amount exceeding 5,00,000

10,00,000 & above - Rs.130000 + 30% of the amount exceeding 10,00,000

II TAX RATES FOR RESIDENT WOMEN BELOW 60 YEARS

Upto 2,00,000 - Nil

2,00,000 to 5,00,000 - 10% of the amount exceeding 2,00,000

5,00,000 to 10,00,000 - Rs.30,000 + 20% of the amount exceeding 5,00,000

10,00,000 & above - Rs130000+ 30% of the amount exceeding 10,00,000

III TAX RATES FOR INDIVIDUAL RESIDENTS AGED 60 YRS AND ABOVE & BELOW 80 YEARS (SENIOR CITIZEN)

Upto 2,50,000 - Nil

2,50,000 to 5,00,000 - 10% of the amount exceeding 2,50,000

5,00,000 to 10,00,000 - Rs.25,000 + 20% of the amount exceeding 5,00,000

10,00,000 & above - Rs.125000 + 30% of the amount exceeding 10,00,000

IV TAX RATES FOR INDIVIDUAL RESIDENTS AGED 80 YRS AND ABOVE (VERY SENIOR CITIZEN)

Upto 5,00,000 - Nil

5,00,000 to 10,00,000 - 20% of the amount exceeding 5,00,000

10,00,000 & above - Rs.100000 + 30% of the amount exceeding 8,00,000

Dear All please share the process which help me to manage third party employee n vendor management.
Regards
Pranav

Consider GROSS as 12500
BASIC = 5200
HRA = 2600
EDUCATION ALLOWANCE = 200
CONVEYANCE ALLOWANCE = 800
MEDICAL REIMBURSEMENT = 1250
CITY COMPENSATORY ALLOWANCE = 2950

PF (EMPLOYER) = 708
ESIC (EMPLOYER) = 618
GRATUITY = 250
BONUS = 433
COST TO COMPANY(CTC) = 15008
PF ( EMPLOYEE ) = 624
ESI ( EMPLOYEE ) = 228
PROFESSION TAX = 200 as per state slab
TAKE HOME SALARY (Rs.) = 11949

Thanx sir for your valuable help.....
really thnx sir...sir truly i am saying that yyou didn't know how much you have help me....once again hats off to you sir

Dear seniors,
I am writing management trainee (admin) exam in Steel Authority of India Ltd.I am in utmost need of the previous year question papers...pls snd me if you have.It will be very useful for my preparation.
thank you.

Hello,
I will recommend to use IntelliPayroll- Payroll Software by Prodigy Technologies
for more unfo visit
Payroll Software Online - Prodigy Technologies
Thanks and Regards,
Manoj

Hi,
Bonus will be depends on the company to company,
1. some companies will provide the 20% bonus of each & Every Emp.
2. Some Companies will not given any bonus whose salary is more than 10,000.
So Firstly Check with urs seniors after this to make the salary.

hello every body
can u tell be from today which sector will be boom in coming 2 years and in which sector salary of HR is more and in which role----payroll,executive,generalist

Hi Shel
The salary breakup is amazing & explained in detail, as i was searching for this info since a long time, thanks for the wonderful knowledge.
Yedol