Hi All,
Can anyone tell me about how to calculate the payroll and sections under each payroll component (such as basic,HRA,CA,CCA,Medical Allowance,Vehical Reimburesement,LTA,Gift Vouchers,PF,Special Allowance,Lunch Coupons etc) and slab rates for each section under payroll.
Kindly provide your suggestions regard.......r refer me any books.
Regards,
simran.
From India, Hyderabad
3Can anyone tell me about how to calculate the payroll and sections under each payroll component (such as basic,HRA,CA,CCA,Medical Allowance,Vehical Reimburesement,LTA,Gift Vouchers,PF,Special Allowance,Lunch Coupons etc) and slab rates for each section under payroll.
Kindly provide your suggestions regard.......r refer me any books.
Regards,
simran.
From India, Hyderabad
Hi Sir,
Thanks alot.......for responding to my query.
The information helps me alot .
Can u tell me the following each components of payroll comes under which sections(basic,HRA,CA,CCA,Medical Allowance,Vehical Reimburesement,LTA,Gift Vouchers,PF,Special Allowance,Lunch Coupons ,etc) and the possible ways to exempt from the tax from these components.
How fringe benefit tax is helpful to a person and the best possible ways to exempt from tax.
Regards,
Simran
From India, Hyderabad
Thanks alot.......for responding to my query.
The information helps me alot .
Can u tell me the following each components of payroll comes under which sections(basic,HRA,CA,CCA,Medical Allowance,Vehical Reimburesement,LTA,Gift Vouchers,PF,Special Allowance,Lunch Coupons ,etc) and the possible ways to exempt from the tax from these components.
How fringe benefit tax is helpful to a person and the best possible ways to exempt from tax.
Regards,
Simran
From India, Hyderabad
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From India, Calcutta
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Gift voucher upto 5000/- p.a is also exempted from tax. Fuel expenses for the two wheeler/four wheeler upto 20,000/p.m is exempted from I.T. In case of availing conveyance @800/p.m, fuel expenses can not be claimed for tax exemption. Food coupons are permited upto 5400/-p.m which can be exchanged for groceries.
Regards
R.Ponraj
From India, Lucknow
Regards
R.Ponraj
From India, Lucknow
Dear All, Can any one guide me , how to calculate gratuity, its other terms and condition. Regards, Salman.
From India, Sangli
From India, Sangli
Dear Govind,
Good Piece of Information, if possible will u pls guide me that how to calculate gratuity, its formula and other terms and condition related to Payment of Gratuity act.
Thankx & Regards,
Salman
From India, Sangli
Good Piece of Information, if possible will u pls guide me that how to calculate gratuity, its formula and other terms and condition related to Payment of Gratuity act.
Thankx & Regards,
Salman
From India, Sangli
Dear Khan,
Please find below the calculation of gratuity:
keep in mind: basic wages+other allownace(excluding conveyence)
Payment of grauity Eligibility: 5 years completion (incase termination due to health problem,other legal termination not based on deciplinary practices (by employer) the liability to pay from employer side ).
15 days payment of basic wages(current pay rate) in a year.
Eligiblity for year: for working days including leaves with wages,accident ,maternity leaves etc..
: 190 dyas(where weekly working period less than six) in 1 year & 95 days for six months
: 240 days(for types of industry) in one year & 120 days for six months.
In a seasonal factory: 75% attendance.
Excess of six months assume a complete one year
Maximum of gratuity:3.5 lakhs
Calculating :Monthly rate divided by 26 & then one day wages multiply by 15 for one year.
For Daily wages/average piece rate *15 for one year.
Nomination at form F within one year after joining.
Payment: Within 30 days from the payable date or within 30 days from left/last day of employee tenure.
Best regards
Sajid Ansari
From India, Delhi
Please find below the calculation of gratuity:
keep in mind: basic wages+other allownace(excluding conveyence)
Payment of grauity Eligibility: 5 years completion (incase termination due to health problem,other legal termination not based on deciplinary practices (by employer) the liability to pay from employer side ).
15 days payment of basic wages(current pay rate) in a year.
Eligiblity for year: for working days including leaves with wages,accident ,maternity leaves etc..
: 190 dyas(where weekly working period less than six) in 1 year & 95 days for six months
: 240 days(for types of industry) in one year & 120 days for six months.
In a seasonal factory: 75% attendance.
Excess of six months assume a complete one year
Maximum of gratuity:3.5 lakhs
Calculating :Monthly rate divided by 26 & then one day wages multiply by 15 for one year.
For Daily wages/average piece rate *15 for one year.
Nomination at form F within one year after joining.
Payment: Within 30 days from the payable date or within 30 days from left/last day of employee tenure.
Best regards
Sajid Ansari
From India, Delhi
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SALARY SHEET CALCULATION.xls