Small Firm First Employee

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Posted 25-03-2010Reply

Hello,

we area small firm and we are hiring our first employee.

What are the deductions on the salary slips? Only TDS?

Many thanks

Rated +1 | Posted 25-03-2010

I think it will be Professional Tax. The amount is deducted based on the total salary slab.
TDS is deducted when one is providing services to the company for example if u hire consultants for particular domains or services.

Rated 0 | Posted 25-03-2010

Hi

Apart from Professional Tax, TDS is also applicable to the employee if his salary crosses certain limit for that financial year.

Thanks and Regards
Kartheka R

Rated +1 | Posted 26-03-2010

Your right. Here's a link with more details on TDS: http://www.citehr.com/48386-tds-rules-india.html

Rated 0 | Posted 26-03-2010

Congrates to you.

Thanks

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