Dear All, I have to prepare Check list for Pay Roll Department, Pls guide if any one is already having the same in your office.. Regards Vandana Singh...:(
From India, Mumbai
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12From India, Mumbai
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Checklist includes:
a) Leaves taken by the employee:
i) Casual leaves
ii) Sick leave
b) Date of Joining of the employee
c) Whether any loss of pay is there
d) Contribution towards PF and ESI
e) Income deductible - You should look at the investments and declarations made by the employee. Also, note the exempted allowances while calculating tax. If both husband and wife are employed, HRA is exempted in only one case. If there is any house property loss, you should set that off.
f) Deduction of loans taken by the employee from the organization
g) Bonus payable
h) Incentives payable (if the company has a practice to pay with salaries)
i) Amount deductible on account of loss or damage caused by the employee
j) Last but not least, you should have an idea of the salary structure: Basic + DA + HRA + other allowances + (In some cases, they add the PF contribution by the employer here and again deduct in the columns of deduction). Deductions are PF, ESI, PT, Income tax, and any other loan taken by the company.
If you are happy with this, we can prepare a simple format in Excel.
Cheers,
Ajay
From India, Bangalore
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a) Leaves taken by the employee:
i) Casual leaves
ii) Sick leave
b) Date of Joining of the employee
c) Whether any loss of pay is there
d) Contribution towards PF and ESI
e) Income deductible - You should look at the investments and declarations made by the employee. Also, note the exempted allowances while calculating tax. If both husband and wife are employed, HRA is exempted in only one case. If there is any house property loss, you should set that off.
f) Deduction of loans taken by the employee from the organization
g) Bonus payable
h) Incentives payable (if the company has a practice to pay with salaries)
i) Amount deductible on account of loss or damage caused by the employee
j) Last but not least, you should have an idea of the salary structure: Basic + DA + HRA + other allowances + (In some cases, they add the PF contribution by the employer here and again deduct in the columns of deduction). Deductions are PF, ESI, PT, Income tax, and any other loan taken by the company.
If you are happy with this, we can prepare a simple format in Excel.
Cheers,
Ajay
From India, Bangalore
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Deductions From Salary-sec.80 Items-checklist .docx