hi, could anybody explain what is the payroll process.. Thanks
From India, Madras
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1From India, Madras
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HI, U can a get a brief idea of payroll from this attachment... Hope it will b beneficial. Regards Aranyak.
From India, Thana
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From India, Thana
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Hi. I am new to this group. I hope this payroll calculator helps. The salary components can be modified as required. Regards, MR
From India, Ahmadabad
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From India, Ahmadabad
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My CTC is Rs. 5,49,996.00 per annum. My Net Pay is Rs. 45,833 per month.
Basic - 27,500
HRA - ??
Conveyance Allowance - ??
Medical Allowance - ??
Other Allowance - ??
DEDUCTIONS
PF Contributions - ??
Professional Tax - Rs. 200
Please guide Salary Calculator above Salary breakup.
Regards,
Manoj
From India, Mumbai
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Basic - 27,500
HRA - ??
Conveyance Allowance - ??
Medical Allowance - ??
Other Allowance - ??
DEDUCTIONS
PF Contributions - ??
Professional Tax - Rs. 200
Please guide Salary Calculator above Salary breakup.
Regards,
Manoj
From India, Mumbai
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Dear Mr. Manoj,
Your salary structure is as follows:
Basic - 27500
HRA - 11000
CCA - 800
Medical Allowance - 1250
Other Allowance - 5283
Gross/Month = 45833
Gross/Annum = 12 * 45833 = 5,49,996/-
Regards,
Amit Seth.
From India, Ahmadabad
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Your salary structure is as follows:
Basic - 27500
HRA - 11000
CCA - 800
Medical Allowance - 1250
Other Allowance - 5283
Gross/Month = 45833
Gross/Annum = 12 * 45833 = 5,49,996/-
Regards,
Amit Seth.
From India, Ahmadabad
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Hi All,
Payroll is the salary processing system. Payroll can be seen from two aspects: one is from the HR side, and the other from the commercial people's side. The HR personnel process the payroll by sending attendance details or, better put, Leave Without Pay (LWP) details and other complete information that an employee will receive in a particular month. After receiving these details, the commercial team starts entering them into the payroll software, initiating the salary processing.
While processing the salary for a specific month, we in HR provide comprehensive LWP (Leave Without Pay) details to the commercial department. When calculating LWP, we prepare the attendance sheet with the weekly offs. Besides weekly offs, we review the employee's absences, cross-referencing with leave applications to determine how many days an employee was on leave. If an employee has submitted an approved leave application and has sufficient leave balance, we mark them as on leave. However, if there is no leave application submitted or there is no leave balance, the employee is considered absent for that day, and their salary is deducted accordingly.
Furthermore, if there is a provision to provide one day's extra salary for a specific day when an employee does come to work, we calculate the additional salary for those employees present on that day.
I hope this clarifies the process for you.
Regards,
Amit Seth
From India, Ahmadabad
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Payroll is the salary processing system. Payroll can be seen from two aspects: one is from the HR side, and the other from the commercial people's side. The HR personnel process the payroll by sending attendance details or, better put, Leave Without Pay (LWP) details and other complete information that an employee will receive in a particular month. After receiving these details, the commercial team starts entering them into the payroll software, initiating the salary processing.
While processing the salary for a specific month, we in HR provide comprehensive LWP (Leave Without Pay) details to the commercial department. When calculating LWP, we prepare the attendance sheet with the weekly offs. Besides weekly offs, we review the employee's absences, cross-referencing with leave applications to determine how many days an employee was on leave. If an employee has submitted an approved leave application and has sufficient leave balance, we mark them as on leave. However, if there is no leave application submitted or there is no leave balance, the employee is considered absent for that day, and their salary is deducted accordingly.
Furthermore, if there is a provision to provide one day's extra salary for a specific day when an employee does come to work, we calculate the additional salary for those employees present on that day.
I hope this clarifies the process for you.
Regards,
Amit Seth
From India, Ahmadabad
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Dear Manoj,
HRA is 40% of the basic salary.
CCA is fixed at 800/- as it is exempted from taxes.
Medical allowance of 1250/- is exempted from taxes after producing a bill for the same, so it is also fixed.
The rest of the basic salary would be considered as Special allowance.
Regards,
Amit Seth.
From India, Ahmadabad
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HRA is 40% of the basic salary.
CCA is fixed at 800/- as it is exempted from taxes.
Medical allowance of 1250/- is exempted from taxes after producing a bill for the same, so it is also fixed.
The rest of the basic salary would be considered as Special allowance.
Regards,
Amit Seth.
From India, Ahmadabad
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HRA is 34.5% of basic pay medical n conyvance allowance is fixed(as per ur company). PF is 12% of basic pay of employee +12% of employer may be its useful for u.
From India
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From India
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Thank you all... :)
Up to 1.5 Lacs is exempted for tax calculation for males. Up to 1 Lac is exempted from taxes under Section 80C. Up to 15K is exempted under Section 80D. Deduction under Section 80G is allowed in respect of donations.
Regards,
Amit Seth.
From India, Ahmadabad
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Up to 1.5 Lacs is exempted for tax calculation for males. Up to 1 Lac is exempted from taxes under Section 80C. Up to 15K is exempted under Section 80D. Deduction under Section 80G is allowed in respect of donations.
Regards,
Amit Seth.
From India, Ahmadabad
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i need a normal payroll calculator where i can put the gross salary and & no of days present deduction, & addd incentive. easyly. this is quite hard to understand.
From India, Calcutta
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From India, Calcutta
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Hi amit, i want to know wat r the percentage that you r dividing the hra, cca, medical, and other all this %, plz send me the percent amount that you calculate. Regards, Rimi
From India, Calcutta
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From India, Calcutta
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Hi Rimi,
We generally calculate HRA based on the city he is working in. For metro cities, we keep it at 50% of the basic salary, and for non-metro cities, it is 40% of the basic salary, which is exempted from taxes.
CCA - Actually, Rs. 800/- is exempted from taxes, but one may choose to provide more. For example, you can set the standard CCA for your staff levels.
If medical expenses are reimbursed, up to Rs. 15,000/- (i.e., Rs. 1250/- per month) is exempted from taxes. However, one may opt to provide more depending on the company policy.
I hope your queries have been addressed.
Regards,
Amit Seth.
From India, Ahmadabad
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We generally calculate HRA based on the city he is working in. For metro cities, we keep it at 50% of the basic salary, and for non-metro cities, it is 40% of the basic salary, which is exempted from taxes.
CCA - Actually, Rs. 800/- is exempted from taxes, but one may choose to provide more. For example, you can set the standard CCA for your staff levels.
If medical expenses are reimbursed, up to Rs. 15,000/- (i.e., Rs. 1250/- per month) is exempted from taxes. However, one may opt to provide more depending on the company policy.
I hope your queries have been addressed.
Regards,
Amit Seth.
From India, Ahmadabad
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Hi, I am looking for the Slabs for the following. Could somebody please help me in this regard. 1. PT (Professional Tax) Slabs 2. ESI Deductions 3. PF Calculation Thanks, Sree
From India, Hyderabad
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From India, Hyderabad
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Hi Sree,
PT slabs differ from state to state, so it is better if you check with your state personnel and collect the data. Regarding PF, up to a basic of Rs. 6500/- is covered under PF, but those with a basic salary higher than this may be exempted. However, once covered, they cannot stop the contribution.
For ESIC, up to a gross salary of Rs. 10000/- is covered under ESIC, with a contribution of 1.75% from the employee side and 4.75% from the employer side. Individuals with a gross salary exceeding Rs. 10,000/- are exempted from coverage.
Regards,
Amit Seth.
From India, Ahmadabad
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PT slabs differ from state to state, so it is better if you check with your state personnel and collect the data. Regarding PF, up to a basic of Rs. 6500/- is covered under PF, but those with a basic salary higher than this may be exempted. However, once covered, they cannot stop the contribution.
For ESIC, up to a gross salary of Rs. 10000/- is covered under ESIC, with a contribution of 1.75% from the employee side and 4.75% from the employer side. Individuals with a gross salary exceeding Rs. 10,000/- are exempted from coverage.
Regards,
Amit Seth.
From India, Ahmadabad
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SALARY CAN BE SPLIT INTO COMPONENTS BUT NOT LESS THAN THE MINIMUM WAGES.docx
Salary Master payroll.zip