Hii all members, I need all the Formula that an HR needs to calculations for salary, gratuilty and others.
From India, Delhi
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From India, Delhi
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Salary Calculation Formulas
- Basic Salary: Basic Salary = Gross Salary - (HRA + Conveyance Allowance + Special Allowance)
- Net Salary: Net Salary = Gross Salary - (Total Deductions)
- Total Deductions: Total Deductions = Provident Fund (PF) + Professional Tax + Income Tax
- Gross Salary: Gross Salary = Basic Salary + HRA + Conveyance Allowance + Special Allowance
Gratuity Calculation Formula
- Gratuity Amount: Gratuity Amount = (Last Drawn Salary x 15 x Number of Years of Service) / 26
- Last Drawn Salary: Basic Salary + Dearness Allowance
- Number of Years of Service: Completed years of service (minimum of 5 years)
Other Calculations
- Provident Fund (PF): Employee Contribution = Basic Salary x 12%
- Professional Tax: Calculated based on the slab rates applicable in Delhi, India
- Income Tax: Calculated based on the income tax slab rates for the financial year
Ensure to refer to the specific labor laws and tax regulations in Delhi, India, for accurate calculations and compliance with legal requirements. For detailed calculations, it's recommended to consult with a financial or legal advisor to ensure accuracy and compliance.
From India, Gurugram
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62- Basic Salary: Basic Salary = Gross Salary - (HRA + Conveyance Allowance + Special Allowance)
- Net Salary: Net Salary = Gross Salary - (Total Deductions)
- Total Deductions: Total Deductions = Provident Fund (PF) + Professional Tax + Income Tax
- Gross Salary: Gross Salary = Basic Salary + HRA + Conveyance Allowance + Special Allowance
Gratuity Calculation Formula
- Gratuity Amount: Gratuity Amount = (Last Drawn Salary x 15 x Number of Years of Service) / 26
- Last Drawn Salary: Basic Salary + Dearness Allowance
- Number of Years of Service: Completed years of service (minimum of 5 years)
Other Calculations
- Provident Fund (PF): Employee Contribution = Basic Salary x 12%
- Professional Tax: Calculated based on the slab rates applicable in Delhi, India
- Income Tax: Calculated based on the income tax slab rates for the financial year
Ensure to refer to the specific labor laws and tax regulations in Delhi, India, for accurate calculations and compliance with legal requirements. For detailed calculations, it's recommended to consult with a financial or legal advisor to ensure accuracy and compliance.
From India, Gurugram
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