Deduction Priority Of Statutory Elements

hi,
please share the information about the priority of deduction of the following components from eligible gross to find out the net pay
1. Monthly income tax
2. Professional Tax
3. Provident fund
4. ESI contribution
5. Labor Welfare Fund
Thanks and Regards,
Sivajith S.

Dear Shivajt,
Can you make it clear and what exactly you want ? do you know on what percentage we need to deduct?

hi ashok ,
i need this for the purpose of payroll run. i calculated all these elements and now i want to deduct all these statutory elements from the gross salary to find net salary. So i need the priority of the elements . this is significant in case of employee who erned gross and its less than that of the sum( decuction elements).

1. ESIC (1.45% on gross salary)
2. OF (12% on Basic salary)
3. Professional Tax ( as per slab in states)

hi Ashok,
I don't want the percentage of this elements. I calculated all these things and i need to know
the priority of elements to deduct.
For eg. Gross -6000
ptax- 300
itax -315
esi -175
pf-200
lwf -4
so priority wise deduction means
net salary=gross-itax-pf-lwf-esi-ptax
or
net salary=gross-ptax-itax-pf-lwf-esi
this case will get wet when gross is small amount due to any reason and we have to deduct these statutory components. so which element should be the first to deduct.

Net Salary = Gross Slary-TDS-PF-ESIC-Professional Tax.
Can you tel what do you mean by Itax-LWF?

I think Income tax is nothing but tds right.
you just do one thing prepare 2 salary statements 1 for upto 15000/- , 2nd is above 15000/-.
Now, you may not deduct the income tax for upto 15000/- if tds is nothing but income tax.
now my ? is why we need to deduct labor welfare fund from employees.

Hi Ashok,
For labor welfare fund we have employee contribution and employer contribution. So employee contribution should be deducted from the salary when its captured.
Regards,
Sivajith S.

Labor welfare fund is nothing but a deduction of fixed amount ( rs 4 from employee and 8s 8 from employer) according to the frequency. Income tax is calculated in standard manner.
Regards,
Sivajith S.

Labour welfare Rs 4, for each and every employee and rs. 8 from employer end on each and every employee?
on what date we need pay?
for example : in jan month having 20 employee
feb month they are 15 employees
in march it is 45 employees? how to calculate this thing?
and may i know income tax calculation details?
can i have your contact details with your mail id.