SALARY BREAKUP
This query is : Resolved
07 April 2009
A NEW COMPANY WANT TO SETUP SALARY STRUCTURE SAY:
GROSS 3500, GROSS 6500, GROSS 7500, GROSS 10000, GROSS 15000
HOW SHOULD WE BREAKUP TO REDUCE COST OF PF, ESI ,I-TAX
PLEASE HELP
GROSS 3500, GROSS 6500, GROSS 7500, GROSS 10000, GROSS 15000
HOW SHOULD WE BREAKUP TO REDUCE COST OF PF, ESI ,I-TAX
PLEASE HELP
07 April 2009
First you should check the minimum wages act. For each desiganation first you arrive at the minimum wages as per minimum wages act.
After arriving at the minimum fix the nearest figure to that as Basic and DA because PF and ESI has to be paid on bais only and balance you apportion to conveyance, hra, medical, child education et.,
This will reduce the pf and esi burden and also it will be a measure for tax planning also.
After arriving at the minimum fix the nearest figure to that as Basic and DA because PF and ESI has to be paid on bais only and balance you apportion to conveyance, hra, medical, child education et.,
This will reduce the pf and esi burden and also it will be a measure for tax planning also.
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