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Type: HR, Report if not a HR topic
MR.KARTHIK,
WARM WISHES.
1A) LTA is not compulsory when we are paying CONVEYANCE.
2A) PF also not required as it will not applicable as u said.
MURTHY
MR. KARTHIK, AS I FORGOT SECOND QSN, IAM SENDING ANSWER AGIAN.
MEDICAL ALLOWANCE:
CAN BE PAID AFTER SUBMISSION OF MEDICAL BILLS(WHICH IS CALLED AS CLAIM).
OTHERWISE, FOR INSTANT HELP, WE CAN PAY SOME AMOUNT, TO PROVIDE FIRSTAID AND OTHER MEDICAL EXPENCE
....AS PER THE RULES AND THE COMMITTED WITH THE EMPLOYEE.
Dear Karthik,
Thank u very much for the reply for my queries.
Regards,
Praveen.
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7 Replies
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Salary Structure
Type: HR, Report if not a HR topic
Posted 19-01-2011Reply
Dear all,
We have a small co started & cater to PCB design & development.
1. Initially to provide committed salary(CTC), we added medical allowance in salary & paid. For ex: If CTC is Rs.5000, employee would get Rs.4850(deducting PT). Components in earnings were Basic, HRA, conveyance, LTA, Perf allowance-I & Perf allowance-C. Components in Deductions were PT,IT.(PF not applicable as emp<20). Now i want to change salary structure. Please suggest.
2. Our present strength is 18. PF is applicable when employee strength cross 20 nos?
3. IS LTA compulsory?
4. Medical allowance of Rs.1250 can be paid along with salary or need to pay only when bills r submitted by employees?
Please suggest me for the above queries.
Hi Praveen,
Below are the answers inline to my knowledge..!
1. For your easy understanding:
The components Basic, HRA, Conveyance are standard and you can add allowances in gross salary which is paid monthly and its taxable.
LTA and Medical bills are added in CTC(Yearly/Haly-yearly) which is paid against bills. If Bills are not submitted by the employee, then the amount will be paid as allowance at the end of the financial year/half-yearly with tax(Depends upon your co policy). PF(Employer) and other components are also added in CTC.
2. Yes. right but eventhough less than 20, you can take Voluntary PF.
3. LTA not Mandatory.
4. Already explained abt Medical bills in first point.
Regards
Karthik
Below are the answers inline to my knowledge..!
1. For your easy understanding:
The components Basic, HRA, Conveyance are standard and you can add allowances in gross salary which is paid monthly and its taxable.
LTA and Medical bills are added in CTC(Yearly/Haly-yearly) which is paid against bills. If Bills are not submitted by the employee, then the amount will be paid as allowance at the end of the financial year/half-yearly with tax(Depends upon your co policy). PF(Employer) and other components are also added in CTC.
2. Yes. right but eventhough less than 20, you can take Voluntary PF.
3. LTA not Mandatory.
4. Already explained abt Medical bills in first point.
Regards
Karthik
Hi Praveen,
Below are the answers inline to my knowledge..!
1. For you... See Karthik's complete reply
Below are the answers inline to my knowledge..!
1. For you... See Karthik's complete reply
MR.KARTHIK,
WARM WISHES.
1A) LTA is not compulsory when we are paying CONVEYANCE.
2A) PF also not required as it will not applicable as u said.
MURTHY
Hi Praveen,
Below are the answers inline to my knowledge..!
1. For you... See Karthik's complete reply
Below are the answers inline to my knowledge..!
1. For you... See Karthik's complete reply
MR. KARTHIK, AS I FORGOT SECOND QSN, IAM SENDING ANSWER AGIAN.
MEDICAL ALLOWANCE:
CAN BE PAID AFTER SUBMISSION OF MEDICAL BILLS(WHICH IS CALLED AS CLAIM).
OTHERWISE, FOR INSTANT HELP, WE CAN PAY SOME AMOUNT, TO PROVIDE FIRSTAID AND OTHER MEDICAL EXPENCE
....AS PER THE RULES AND THE COMMITTED WITH THE EMPLOYEE.
Dear Friends
Seasons greeting s to one and all
According to the latest judgement delivered at the Gujarat High Court, the salary components are Basic-60% and HRA - 40%. in most of the P F offices in India insists that we have to deduct PF only on 60% though there is no Provision in the EPF Act to deduct EPF on the 60% of basic salary.
Even though there are only 18employees working in the organization, and are not coming under the EPF Act, the Enforcement officers add the watchman, sweeper etc and force the employer to come under the purview of EPF ACT.
Regards
A Venkattaraman
Seasons greeting s to one and all
According to the latest judgement delivered at the Gujarat High Court, the salary components are Basic-60% and HRA - 40%. in most of the P F offices in India insists that we have to deduct PF only on 60% though there is no Provision in the EPF Act to deduct EPF on the 60% of basic salary.
Even though there are only 18employees working in the organization, and are not coming under the EPF Act, the Enforcement officers add the watchman, sweeper etc and force the employer to come under the purview of EPF ACT.
Regards
A Venkattaraman
Yes. You can do First aid and claim from insurance company(Medical insurance) or Medical re-imbursem... See Karthik's complete reply
Dear Karthik,
Thank u very much for the reply for my queries.
Regards,
Praveen.
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