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HR Zone » Compensation and Benefits » What are the "Deduction Head In a Salary Slip" of a Employee & Employer ?

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What are the "Deduction Head In a Salary Slip" of a Employee & Employer ?
Mr.Chanakya
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Posted 12-03-2012Reply

Viewers , Normally the salary of an Employee has Statutory Deduction and it's corresponding Percentage and Different head's 1) For an Employee of Rs.6.500/-PM Limit. 2) Employees above this salary Limit .3) Salary Deduction Head for EMPLOYER also.

AND WHAT ARE THE DIFFERENT STATUTORY DEDUCTION FROM A SALARY Expecting from Viewer's. like P.F,PFDLIS, ESI,GRATUITY,BONUS,etc..



PLEASE provide me each Heads and if any other Heads then Provide here as YOUR REPLY okay.



like :- 1) BASIC SALARY.

2) D.A --Percentage ?.

3) H.R.A -Percentage ?.

4) Conveyance -Percentage ?.

5) Medical Benefit--Percentage ?.

6) Other Benefits-Percentage ?.

7) Monthly Income Tax deduction Percentage ?.

Please provide me your Ideas of Salary slip here make me a Special salary slip.



Source: Mr.Chanakya Jr:
Dilip
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  Rated 0 | Posted 14-03-2012


Dear Chanakya,

gross - 10k


basic salary - 50%

da - 10%

hra - 40%

conv - 25%

oth allow - 25%

total - gross

statutory deduction

pf - 12% of basic

esi - 1.47% of gross

income tax - as per tax slab

dear friends correct me if am wrong.


Regards,

Dilip.A
Hyderabad

Mr.Chanakya
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  Rated 0 | Posted 14-03-2012



Dear Chanakya,



gross - 10k





basic salary - 50%

<... See Dilip's complete reply


Thanks for your reply first ok.
according to me there is no specific formula for Basic wage (above minimum wages act) DA, HRA,CONV and other allowance okay you can change according to your choice. But i am Looking from you , that What are each Deduction head in Percentage for an Employee as well as an Employer's alary slip okay please provide your knowledge here as your reply ok Thanks in advance

my intention is to prepare a Best Salary slip for an Employee & Employer By saving maximum Money from deduction within the limit of complying statutory deduction in it thats all .

Chaitrali
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  Rated 0 | Posted 29-03-2012

Dear Chanakya,

U can use the below salary structure for reference:

Basic: 30% of Gross
DA: 50% of basic
HRA: 50% of basic
conveyance: 800 (Maximum travel allownace exempt from tax is 9600 per year)
Medical: 1250 (Maximum medical allowance exempt from tax is 15000 per year)
Other Allowance: Rest amount can be adjusted in other allowance

Gross: Basic+DA+HRA+conveyance+medical+other

Deductions:
Employee:
PF: 12% of basic
ESIC: 1.75 of gross (for gross salary upto 15000 per month)
PT: upto 5000 no PT, 5001 to 10000 = 175, 10001 and above 200
Employer:
PF: 12 % of Basic
ESIC: 4.75 of gross (for gross salary upto 15000 per month)

Total of Deductions

Cost to company: Gross salary + deductions

Mr.Chanakya
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  Rated 0 | Posted 02-04-2012

Dear Chanakya,



U can use the below salary structure for reference:



Bas... See Chaitrali's complete reply


Many many thanks for your reply , My intention of crating a brst out of Brst salary slip for a employees who's Monthly salary is 1 Lakh okay.
what the other head's you CAN ADD in your given reply , and save maximum Tax cut ? Please inform me . i will wait for your reply

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