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HR Audit Query

Radhesh Bhoot (Aspiring CA) (229 Points)

09 June 2011

Hello friends,

One of my friend is in HR department and has certain questions, i request all of you to help me to answer her the following questions:

1. How is grautiuty calculated (Formula) and how to maintain the database for Grauity of the employees of the companies

2. What is super annuation and how is it need to be maintianed? is there any formula to calculate it ?

3. How is PF calculated and what is the procedure for opening an account of PF?

4. How to maintain the database of compensation break-up of an Employee?

5. What all need to be considered for internal audit? Help me with the guidelines

6. Proffesion Tax is deducted as yearly 2500? how do I show it in tracker.

Awaiting revert.

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2 Replies

Aparna Raja K.C (Student) (520 Points)
Replied 10 June 2011

well.. a queue of question eh?

cant answer all ..

but shall try :)

1. gratuity - 15/26*last drawn salary*length of service (if gratuity Act1972 is applicable to her establishment)

2. limited to my knowlegde..supperannuation is the termination of job of an employee at the attainment of certain age. say 60 yrs. <ppl usually use retirement and supperannuation interchangeably>

3.PF is a payment made by every employee and employee to the fund. employee can contribute @ 10% or above of his basic wages, DA and retaining allowance. However employer is bound to contribute at 10%. the PF fund is administed by Central Govt.

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Radhesh Bhoot (Aspiring CA) (229 Points)
Replied 10 June 2011

Thanks Aparna

Originally posted by : Aparna Raja K.C
	well.. a queue of question eh? cant answer all .. but shall try :) 1. gratuity - 15/26last drawn salarylength of service (if gratuity Act1972 is applicable to her establishment) 2. limited to my knowlegde..supperannuation is the termination of job of an employee at the attainment of certain age. say 60 yrs. 3.PF is a payment made by every employee and employee to the fund. employee can contribute @ 10% or above of his basic wages, DA and retaining allowance. However employer is bound to contribute at 10%. the PF fund is administed by Central Govt.