CTC Design - let me know if I have done it correctly or not - RAR Download

Honeymaya
I have attached a document in which I have prepared Attendance sheet for ten employees and also designed CTC for 2 employees. And some Queries are also put into the sheet please help me in this..... Please check the sheet once and as I am doing it for first time so please let me know if I have done it correctly or not ( or please mention if I am wrong anywhere ).
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ravi5554
Hi,
Please attach your file one more time, this attachment is not opening.
Honeymaya
Hello Aditya,
Here I have attached the file again .
And looking for your feedback so that I can improve my work..
Thanks
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ravi5554
Hi Maya,
I have seen your attachment
1. when you dont know the gross that time take CTC and devide by 12
2. take employer contributions
3. and use this formula
Gross = Monthly CTC-Employer Contribution
2.ESI ceiling limit is 15000
3. Same formula for sepaerating Employer Contribution from CTC
Gross= CTC-Employer contribution
4.Yes Graduity is only employer contribution and contribuion rate is 4.81% of basic
Honeymaya
Hi Aditya
Thank you for your reply.
I got your point. Please also mention whether I have designed the Salary structure correctly or not ??????
Also please mention the improvement area ????????
How to calculate TDS and PT ???????
Regards
Priyanka
ravi5554
Hi,
You have designed salary strucher correctly.
PT is on total earnings of particular month
If your working in Maharashtra then PT slab
5000 - Nil
5001 to 10000 - 175
10001 and above - 200 and for Feb Month 300
nariy@rediffmail.com
Hi,
professional Tax (PT) varies between each states (of India) and, in a state, between the local governance systems (like Municipal Corporation, Panchayat etc). As per your state norms check for PT slab.
For TDS, download the tax calculator as link provided below. Explanation also available in the tax calculator
Nithya's Tax Calculator
regs
Narayan
pb_bisht
Hi Priyanka,
Enclosing herewith the CTC Calculator which shall help you a lot to understand it.
Regards,
Pushkar
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devmalik2
ECN aaaa
FINAL GRADE 5
PAYROLL LOCATION OTHERS
VEHICLE N
DEPENDENT (IF CHILD) Y
ANNUAL CTC 600000
MONTHLY CTC 50000
BASIC 25000
HRA 13056
TRANSPORT ALLOWANCE 800
CHILD EDUCATION ALLOWANCE 200
CITY ALLOWANCE (IF ANY) 0
SPECIAL ALLOWANCE 0
MONTHLY GROSS 39056
HELPER ALLOWANCE 0
BUSINESS ATTIRE 5000
MEDICAL 1042
BONUS 700
EMPLOYER'S PF 3000
MONTHLY GRATUITY 1202
ANNUAL CTC 600000
MONTHLY CTC 50000
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