Dear All,
Please suggest if the following PT calculations are correct:
1. PT slab Gross 10,000-14,999 Rs. 150/-
2. Above 15000/- Rs. 200.00
Question: We are including a bonus in the gross salary. If it's more than 10,000/-, we will deduct the PT amount.
Example: Employees (Basic Salary 5000 (it's our bonus), Gross Salary 9600/- per month. Our PT calculation is Gross salary + (Basic Salary/12)
= 9600 + 417 (bonus per month) = 10,017. For 10,017/-, we will deduct Rs. 150 per month. Or, is it possible to take into account in any one month for the calendar year.
From India, Bangalore
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Please suggest if the following PT calculations are correct:
1. PT slab Gross 10,000-14,999 Rs. 150/-
2. Above 15000/- Rs. 200.00
Question: We are including a bonus in the gross salary. If it's more than 10,000/-, we will deduct the PT amount.
Example: Employees (Basic Salary 5000 (it's our bonus), Gross Salary 9600/- per month. Our PT calculation is Gross salary + (Basic Salary/12)
= 9600 + 417 (bonus per month) = 10,017. For 10,017/-, we will deduct Rs. 150 per month. Or, is it possible to take into account in any one month for the calendar year.
From India, Bangalore
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Dear [Recipient],
First and foremost, I want to clarify that BONUS is not paid every month. It's paid once in a calendar year and is included in the gross amount, with professional tax deducted. I hope you are calculating the CTC amount every month, as shown in the example above.
Please don't get yourself confused. The gross amount should include all the allowances and the OT amount. You can find good payroll software in the market that is programmed to do this automatically. You just need to link your state's Professional Tax slab to it.
Thank you.
Best regards,
[Your Name]
From United Kingdom, London
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196First and foremost, I want to clarify that BONUS is not paid every month. It's paid once in a calendar year and is included in the gross amount, with professional tax deducted. I hope you are calculating the CTC amount every month, as shown in the example above.
Please don't get yourself confused. The gross amount should include all the allowances and the OT amount. You can find good payroll software in the market that is programmed to do this automatically. You just need to link your state's Professional Tax slab to it.
Thank you.
Best regards,
[Your Name]
From United Kingdom, London
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EMPLOYEE SALARY INCOME TAX CALCULATION.xls x