One of our senior management employer requested HR to consider 10%of his salary to be contributed to NPS account on behalf of employer and the same can be deducted from his salary. The management is OK with the request provided there is no impact on the CTC. Can we allow PF and NPS..
How do I restructure his ctc
1 option I deduct 10%from basic and deposit to NPS... As his basic is getting reduced the reduction impacts on pf gratuity superannuation leave pay bonus...employee will not agree
2 option if I calculate as usual and then take 10% the Contribution is less.
Query 1.will he be eligible to take tax benefit on the full amount
What will the impact be on Co when we show this under employer expenses
Favourable for company or employee or both 🙏 help with clarification
From India, Mumbai
How do I restructure his ctc
1 option I deduct 10%from basic and deposit to NPS... As his basic is getting reduced the reduction impacts on pf gratuity superannuation leave pay bonus...employee will not agree
2 option if I calculate as usual and then take 10% the Contribution is less.
Query 1.will he be eligible to take tax benefit on the full amount
What will the impact be on Co when we show this under employer expenses
Favourable for company or employee or both 🙏 help with clarification
From India, Mumbai
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From Ukraine, Vinnytsia
From Ukraine, Vinnytsia
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Employee Appraisal Form new.doc