Dear All CaClubIndia Members,
Can you guide me on the salary re-structuring in most efficient way which proves to me minimal TDS deduction.
Here is the existing structure for our mgmt level employee on avarage
Basic Salary Rs. 25,000=00
HRA(20%) Rs. 5.000=00
Edu Allwnce Rs. 700=00
Conveyance Rs. 2,000=00
Cell-Phone Allow Rs. 400=00
_________
Rs. 33,100=00
Over and above employee is eligible for following annual benifits.
1. LTA equivalent to One month basic salary
2. Medical Re-imbursement equivalent to One month basic salary
3. Performance Incentive @ 25% of annual basic salary.
4. Gift by way of Gold Rs. 50,000=00
So the total CTC comes to Rs. 5.72 Lacs
Is there any possibility of restructuring to minimise the income tax.
Please Advise.....
Amit
1. Basic salary is covering almost 50% of whole salaryary structure.
2. Almost all the annual benefits linked to basic salary we can not cut doen the basic salary limit for re-structuring.