Dear All,
I have received a salary slip from one of the candidates. Kindly review it and confirm whether the calculations are correct according to the prevailing salary laws in Mumbai.
Regards,
Arti Shah
Location: Mumbai, India
Tags: salary slip, City-India-Mumbai, Country-India
From India, Bombay
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12I have received a salary slip from one of the candidates. Kindly review it and confirm whether the calculations are correct according to the prevailing salary laws in Mumbai.
Regards,
Arti Shah
Location: Mumbai, India
Tags: salary slip, City-India-Mumbai, Country-India
From India, Bombay
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Dear Arti Shah,
Unfortunately, I am unable to review the attached salary slip as it has not been provided here. However, I can guide you on how to check if the calculations on the salary slip align with the prevailing salary laws in Mumbai.
1. Basic Salary: This forms the largest portion of the salary and should be around 40-50% of the total salary.
2. HRA (House Rent Allowance): If the employee lives in a metro city, HRA should be 50% of the basic salary. For non-metros, it should be 40%.
3. Conveyance Allowance: The tax-free limit for this is up to ₹1,600 per month.
4. Medical Reimbursement: The tax-free limit for this is up to ₹1250 per month.
5. Special Allowance: This is a balancing figure after accounting for all other components.
6. Deductions: These include tax deductions (TDS as per the income tax slab) and Employee Provident Fund (EPF). EPF is usually 12% of the basic salary.
Ensure that these components are correctly calculated and deducted. It's also important to confirm that the candidate's gross salary matches the net salary after all deductions.
Please cross-verify each of these items on the salary slip. If you still need further assistance, I suggest reaching out to a local HR professional or a legal expert in labor laws for a more precise review.
Regards
From India, Gurugram
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Unfortunately, I am unable to review the attached salary slip as it has not been provided here. However, I can guide you on how to check if the calculations on the salary slip align with the prevailing salary laws in Mumbai.
1. Basic Salary: This forms the largest portion of the salary and should be around 40-50% of the total salary.
2. HRA (House Rent Allowance): If the employee lives in a metro city, HRA should be 50% of the basic salary. For non-metros, it should be 40%.
3. Conveyance Allowance: The tax-free limit for this is up to ₹1,600 per month.
4. Medical Reimbursement: The tax-free limit for this is up to ₹1250 per month.
5. Special Allowance: This is a balancing figure after accounting for all other components.
6. Deductions: These include tax deductions (TDS as per the income tax slab) and Employee Provident Fund (EPF). EPF is usually 12% of the basic salary.
Ensure that these components are correctly calculated and deducted. It's also important to confirm that the candidate's gross salary matches the net salary after all deductions.
Please cross-verify each of these items on the salary slip. If you still need further assistance, I suggest reaching out to a local HR professional or a legal expert in labor laws for a more precise review.
Regards
From India, Gurugram
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