HOW TO CALCULATE SALARY

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shivani

HR MANAGER

24 Points Posted on 10 March 2011

Dear all,

First of all namastey from my side to all present here.I am new on this forum.I am HR manager of new establishing IT company.i have done MBA in HR,but didn't have experience in this field.So,now it's big trouble for me to calculate the salary of all the employees.Because i don't know what to include and what not to include in the salary.Please help me in this case.I know this is the work of accountant but in our company we don't have accountant right now.So,give me idea if the salary of the the person is 12,000 per month,then what should be include in this?I am wating for the ans..:).Please send me the format how to calculate the monthly salary.Thanks in advance.

Replies (2)

Rahul Sharma

Student + A.M.- Finance

2530 Points Posted on 10 March 2011

Company Name
Address
Details of Salary Paid to Mr. Rahul Sharma for the F.Y. 2010 - 2011

S.No.	Descripttion	Amount
1	Basic Salary	40,000.00
2	HRA	20,000.00
3	Conveyance Allowance	800.00
4	Min. Guarantee Bonus	12,500.00
5	Spl. Allowance	6,000.00
6	Other Allowance	3,000.00
	Less: Deduction
	PF (Monthly)	4,800.00
	TDS	4,000.00
	ESI	150.00
	Salary Payable	73,350.00

Yeary Claim

LTA

Reimb. of Medical

Ex-Gratia / Bonus

But shivani i have one question

1 Company are provide benifits to employee?

2 I think your co. policy is employee hire for payroll basis or contarctual basis?

diffrent thinks for Q1 and Q2.......

chandan ghosh

none

196 Points Posted on 10 March 2011

to be very precise, one example won't suffice your need at this moment.

as you said you have no idea how to calculate salary. i would say that purchase one good book of income tax (may be girish ahuja). it will surely help you in many ways....