Dear All, myself working for uk based co., i would like to have uk salary structure/components in complete break-up. kindly fwd the same to my email id anpck6@yahoo.com Many Thanks AK
From India, Coimbatore
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From India, Coimbatore
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Hello,
There is no structure in the UK like in India. Your basic pay is taxable and NIable (social insurance). You pay tax and NI on the basic pay. There are no exemptions from tax for most of the allowances. The amount you contribute towards your pension is tax-free, but this contribution is available to you only after retirement. You pay 40% tax on anything above £31,000, and any bonus is also taxable at 40%.
Hope this helps.
From United Kingdom, Haywards Heath
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There is no structure in the UK like in India. Your basic pay is taxable and NIable (social insurance). You pay tax and NI on the basic pay. There are no exemptions from tax for most of the allowances. The amount you contribute towards your pension is tax-free, but this contribution is available to you only after retirement. You pay 40% tax on anything above £31,000, and any bonus is also taxable at 40%.
Hope this helps.
From United Kingdom, Haywards Heath
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Creating a Competitive Salary Structure.doc
Salary Structure.zip