Kumar Gaurav (Going...to be C.A soon...) (1624 Points)
29 July 2010Dear all
if a employee gets follwoing salary:
basis--12000
Spl. allowance--4000
HRA---6000
Conveyane allowance---800
Total salary is Rs. 22800/- per month but if company holds 10% of the monthly salary as Variable pay so for TDS calculations 22800/- amount will be considered or 20520/-?
if esi is also applicable in the above case then after deducting esi amount will be considered or before deducting esi?
vineet
(article assistant)
(46 Points)
Replied 29 July 2010
tds is deducted on the actual salary or net salary after deductions u/s 80c and so on..
and not on the amount which an employee is receiving out of the salary.
Similarly esi also wont effect the tds provisions
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 04 August 2010
Ceiling limit for ESI is rs.15000/-, hence not applicable in this case
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