Hello All,
I need your help to redesign the salary structure to save the employees' tax.
Recently we are following the below salary structure.
Do guide me if we can save the taxes of employee by adding or deleting any component or by increasing or decreasing any limit of certain component.(here in our organization, majority of employees would like to know the other sources to save the taxes apart from those which comes under80C)
BASIC(Gross*25%)
HRA(Gross*15%)
LTA( 40,000Rs/- Annually)per month 3333RS/-
Conveyance(800*12) =9600RS./-
Medical Allowances(1250*12)=25000Rs/-
Employee + Employer PF( 6500 *12%) /(6500*13.61%)
TAX( 200*12/feb 300Rs) = 2500Rs/-
Thank you and awaiting for your response!
I need your help to redesign the salary structure to save the employees' tax.
Recently we are following the below salary structure.
Do guide me if we can save the taxes of employee by adding or deleting any component or by increasing or decreasing any limit of certain component.(here in our organization, majority of employees would like to know the other sources to save the taxes apart from those which comes under80C)
BASIC(Gross*25%)
HRA(Gross*15%)
LTA( 40,000Rs/- Annually)per month 3333RS/-
Conveyance(800*12) =9600RS./-
Medical Allowances(1250*12)=25000Rs/-
Employee + Employer PF( 6500 *12%) /(6500*13.61%)
TAX( 200*12/feb 300Rs) = 2500Rs/-
Thank you and awaiting for your response!