hey i hv been giuven an assignment on 'analysis of payslip w.r.t the law' could sum1 plz help me with this. thanks serena
From India, Hyderabad
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From India, Hyderabad
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Hi,
You asked about the salary slip. The salary slip shows the actual salary of the employee in all break-ups, number of working days, net take-home pay, all deductions in terms of provident fund, ESI, group gratuity scheme, mediclaim, loans, advances, leaves, etc.
Warm regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
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141You asked about the salary slip. The salary slip shows the actual salary of the employee in all break-ups, number of working days, net take-home pay, all deductions in terms of provident fund, ESI, group gratuity scheme, mediclaim, loans, advances, leaves, etc.
Warm regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
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There is no government law governing payslips. This is the prerogative of the employer. Umesh has answered its contents generally.
In simple terms, payable days in a month, payable (component-wise), and deductibles are mentioned sequentially on the slip. Details of the employee's name, department, section, employee ID/code, joining date, PF/ESI numbers, etc., are indicated in it.
From India, New Delhi
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In simple terms, payable days in a month, payable (component-wise), and deductibles are mentioned sequentially on the slip. Details of the employee's name, department, section, employee ID/code, joining date, PF/ESI numbers, etc., are indicated in it.
From India, New Delhi
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Hi,
There is no specific government law for a payslip, but the important elements to consider are the salary breakdown which includes Basic/HRA/DA/Other allowances/Medical reimbursement/conveyance. To confirm the exempt limits, please refer to the income tax act for the current year.
From India, Pune
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There is no specific government law for a payslip, but the important elements to consider are the salary breakdown which includes Basic/HRA/DA/Other allowances/Medical reimbursement/conveyance. To confirm the exempt limits, please refer to the income tax act for the current year.
From India, Pune
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Hi,
I hope you can keep the basic at the lower part (6,500 per month) to avoid employees' deductions and also include special allowances, medical reimbursements, conveyance, etc., to save on the company's tax. You need to structure the pay in a way that goes beyond basic pay.
"Please correct me if I am wrong."
Regards,
Bharath R
From India, Madras
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I hope you can keep the basic at the lower part (6,500 per month) to avoid employees' deductions and also include special allowances, medical reimbursements, conveyance, etc., to save on the company's tax. You need to structure the pay in a way that goes beyond basic pay.
"Please correct me if I am wrong."
Regards,
Bharath R
From India, Madras
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Salary analysis.xls
SALARY CALCULATOR & INCOME TAX.zip