what all salary heads are to be taken in to consideration when designing a salary structure of taxable salaries and non taxable salaries.
From India, Hyderabad
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From India, Hyderabad
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Salary Structure for Taxable Salaried Employees
- Basic
- HRA
- Conveyance Allowance
- Medical Allowance
- Office Wear Allowance
- Special Allowance
Salary Structure for Non-Taxable Salaried Employees
- Basic
- DA
- HRA
- Conveyance Allowance
Regards,
Sheeja Nair, Mumbai
From India, Ahmedabad
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5- Basic
- HRA
- Conveyance Allowance
- Medical Allowance
- Office Wear Allowance
- Special Allowance
Salary Structure for Non-Taxable Salaried Employees
- Basic
- DA
- HRA
- Conveyance Allowance
Regards,
Sheeja Nair, Mumbai
From India, Ahmedabad
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Generally, there are the following heads in a salary structure:
1. **Basic**: Normally 50% of the Gross Pay and not less than the minimum wages act, fully taxable.
2. **HRA**: Varies from place to place. All metro cities will have 40%, and other cities it is 30%. If paid more than the limit, it is considered taxable income.
3. **Conveyance/Transport Allowance**: Limited up to Rs. 800/- per month, and above that is taxable.
4. **Medical Allowance**: Limited up to Rs. 1250/- per month, and above that is taxable.
5. **Special Allowance, Bonuses, Incentives, etc.**: You shall plan, but all those are taxable only.
Debit Heads
- PT
- PF
- ESI
- TDS
- Loan Repayment
- Salary Advance
- Other Deductions
I hope this helps! Let me know if you need further clarification or assistance.
From India, Bangalore
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1. **Basic**: Normally 50% of the Gross Pay and not less than the minimum wages act, fully taxable.
2. **HRA**: Varies from place to place. All metro cities will have 40%, and other cities it is 30%. If paid more than the limit, it is considered taxable income.
3. **Conveyance/Transport Allowance**: Limited up to Rs. 800/- per month, and above that is taxable.
4. **Medical Allowance**: Limited up to Rs. 1250/- per month, and above that is taxable.
5. **Special Allowance, Bonuses, Incentives, etc.**: You shall plan, but all those are taxable only.
Debit Heads
- PT
- PF
- ESI
- TDS
- Loan Repayment
- Salary Advance
- Other Deductions
I hope this helps! Let me know if you need further clarification or assistance.
From India, Bangalore
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Creating a Competitive Salary Structure.doc
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