Dear Sir,
I need to understand the term "Consolidated Salary" and what deductions are applicable under this title connecting the Industrial Law as well as the law in connection to the International Schools where Part-Time Teachers are employed.
For a Consolidated Salary of Rs. 20,000 per month where the teacher is employed 7 days a week as per the Appointment letter, what would the deductions be and how would the salary be calculated? Can PF be deducted? Can TDS be deducted? What would be the percentage of deduction?
Kindly reply to me.
Regards,
Barry Boodle
From India, Pune
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I need to understand the term "Consolidated Salary" and what deductions are applicable under this title connecting the Industrial Law as well as the law in connection to the International Schools where Part-Time Teachers are employed.
For a Consolidated Salary of Rs. 20,000 per month where the teacher is employed 7 days a week as per the Appointment letter, what would the deductions be and how would the salary be calculated? Can PF be deducted? Can TDS be deducted? What would be the percentage of deduction?
Kindly reply to me.
Regards,
Barry Boodle
From India, Pune
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Barry, Consolidated salary contains all allowances but no bifurcation. PF to be deducted on the consolidated pay i.e. Rs.20,000/-. TDS to be deducted if it is taxable income. Pon
From India, Lucknow
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616From India, Lucknow
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Dear Barry, Consolidated remuneration means remuneration given to employees with out any breakup of remuneration. This attracts all statutory deduction if applicable. TDS may be 10%.
From India, Bhubaneswar
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From India, Bhubaneswar
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Hello Barry, Consolidated pay means the gross salary . Based on the tax slab you have to deduct Professional tax, PF etc,.
From India, Secunderabad
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From India, Secunderabad
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Hello,
Consolidated means "joined together as a whole" in its literal sense. Consolidated pay or salary a person is offered is the amount a person receives for the work done on a monthly/weekly basis. It consists of all the entitlements joined together without specifically stating any breakdowns. It can be stated as consolidated gross, and any statutory deductions will be based on the consolidated amount.
Subba Rao Bhagavatula
9490115432
From India, Hyderabad
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Consolidated means "joined together as a whole" in its literal sense. Consolidated pay or salary a person is offered is the amount a person receives for the work done on a monthly/weekly basis. It consists of all the entitlements joined together without specifically stating any breakdowns. It can be stated as consolidated gross, and any statutory deductions will be based on the consolidated amount.
Subba Rao Bhagavatula
9490115432
From India, Hyderabad
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Hi, PF is not deducted in this case. Even other benefits might not be included. This amount is credited to the employee with deduction of TDS only.
From India, Mumbai
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From India, Mumbai
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Dear sir /Madam, have a good day.. i want one answer about Consolidated Salary . 1) its applicable for deduction for pf & esi 2)special allowance is applicable for consolidated salary ? Mandar Dole
From India, Pune
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From India, Pune
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Statutory Compliance of a Industrial or Commercial Unit.xls
Statutory-compl iance.pdf
Statutory Compliance.zip