Dear Sir/Madam,
I am Ruban, pursuing M.S.W (H.R) at Mar Gregorios College. I have prepared a payroll process based on my knowledge. I am seeking your suggestions and corrections so that I can improve myself. I am eagerly awaiting your valuable comments.
Thank you.
From India, Madras
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3I am Ruban, pursuing M.S.W (H.R) at Mar Gregorios College. I have prepared a payroll process based on my knowledge. I am seeking your suggestions and corrections so that I can improve myself. I am eagerly awaiting your valuable comments.
Thank you.
From India, Madras
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Hi There is no universal format for salary structure. However, earnings should be in LHS & deductions in RHS.
From India, Pune
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From India, Pune
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Dear ruban, Seen your salary sheet and comments given by sharma is appreciated. Also would like to add EPs8.33% MAX up to Rs.541/- only rest of amount goes to PF which pls update. Regards, ASK
From India, Madras
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From India, Madras
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Dear Sarma, wat about ESI & EPF cieling??? EPF it is fine if ur org allows contribution more than 6500 but in ur pay sheet, there is no cieling for ESI. pl check
From India, Hyderabad
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From India, Hyderabad
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Hi Ruban, Attached is a Payroll format for your understanding...... please review and if you need anything to insert further, please revert. Thanks Taru
From India, New Delhi
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From India, New Delhi
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Dear Friend,
Please change the PF card No. into PF Account No. Calculations and other details are okay. Please start with Basic Pay. HRA can be a lump sum or up to 40 to 50% of basic. Not everyone will be on traveling, so travel allowance is not required. Instead, you can make it as Conveyance Allowance.
In totality, it seems to be okay. All the best, dear.
From India, Kumbakonam
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Please change the PF card No. into PF Account No. Calculations and other details are okay. Please start with Basic Pay. HRA can be a lump sum or up to 40 to 50% of basic. Not everyone will be on traveling, so travel allowance is not required. Instead, you can make it as Conveyance Allowance.
In totality, it seems to be okay. All the best, dear.
From India, Kumbakonam
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Dear Mr.Ruban I have gone thru the xls file and I suggest HRA can be worked out at 50% of basic instead of 25% so as to avoid taxation on HRA.
From India, Madras
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From India, Madras
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Hello seniors,
As I am studying, I prepared it. But I don't know the split-ups. Can anyone help me out with the split-up? I am not familiar with taxes. Could you teach me so that it will be helpful for me? Another question I have is about attendance. How should we take it, as 30, 31, or else 30.5? These are the doubts I have. Could you please clear them for me? Thank you very much for your suggestions and corrections, seniors.
Thanks and regards,
Ruban
From India, Madras
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As I am studying, I prepared it. But I don't know the split-ups. Can anyone help me out with the split-up? I am not familiar with taxes. Could you teach me so that it will be helpful for me? Another question I have is about attendance. How should we take it, as 30, 31, or else 30.5? These are the doubts I have. Could you please clear them for me? Thank you very much for your suggestions and corrections, seniors.
Thanks and regards,
Ruban
From India, Madras
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hello seniors : Can any one help me out in salary split ups, tax and attendance ......... Seniors help me out
From India, Madras
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From India, Madras
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Hi Ruban,
Attendance is counted as the number of worked days + leave with pay (SL/CL/PL/ML/Special Leave) - Leave without pay. Income Tax deductions are normally handled by tax professionals. Every company has separate employees who are engaged and belong to the Chart of Accounts, Finance, or the senior-most HR person in the Compensation & Benefits division. It's a wide subject. If you want, please search on the Cite HR pages.
After becoming well-versed in the CTC format and salary statement preparation, only then can you understand the income tax deductions part.
Regards,
Sarmakpk1981@gmail.com
9160019220
From India, Hyderabad
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Attendance is counted as the number of worked days + leave with pay (SL/CL/PL/ML/Special Leave) - Leave without pay. Income Tax deductions are normally handled by tax professionals. Every company has separate employees who are engaged and belong to the Chart of Accounts, Finance, or the senior-most HR person in the Compensation & Benefits division. It's a wide subject. If you want, please search on the Cite HR pages.
After becoming well-versed in the CTC format and salary statement preparation, only then can you understand the income tax deductions part.
Regards,
Sarmakpk1981@gmail.com
9160019220
From India, Hyderabad
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Employee Benefits.doc
Employee Benefits.zip