First Time Designing CTC and Attendance Sheet: Can You Spot Any Mistakes?

I have attached a document in which I have prepared an attendance sheet for ten employees and also designed CTC for two employees. There are some queries included in the sheet. Please help me with this.

Please review the sheet and let me know if I have done it correctly, as this is my first time doing this. Kindly point out any mistakes if there are any.

Regards,

I have reattached the file for your review. I am seeking your feedback so that I can enhance my work.

Thank you.

I have seen your attachment. Here are the steps to follow:

Steps to Calculate Gross Amount

1. When you don't know the gross amount, take the CTC and divide it by 12.
2. Consider the employer contributions.
3. Use the following formula:
- Gross = Monthly CTC - Employer Contribution

4. The ESI ceiling limit is 15,000.

5. Use the same formula to separate the Employer Contribution from CTC:
- Gross = CTC - Employer Contribution

6. Yes, Gratuity is solely an employer contribution. The contribution rate is 4.81% of the basic.

Thank you.

Thank you for your reply. I got your point. Please also mention whether I have designed the salary structure correctly or not. Additionally, please highlight the areas for improvement. How do I calculate TDS and PT?

Regards,
Priyanka

You have designed the salary structure correctly. PT is based on the total earnings of a particular month. If you are working in Maharashtra, then the PT slab is as follows:

- 5000 and below: Nil
- 5001 to 10000: 175
- 10001 and above: 200, and for the month of February, it is 300.

Thank you.

Hi Priyanka,

Enclosing herewith the CTC Calculator, which shall help you a lot to understand it.

Regards,
Pushkar