![]() ![]() Step 7: Now take out the printout of the salary slip and sign it and distribute to employees. Step 6: Now subtract all the deductions from the earned gross salary of the employee in that particular month, the balance amount will be the net salary of the employee. ![]() Other(Special) Allowances (Balance allowances) ![]() HRA (40% of the basic wage for nonmetro cities)Ĭonveyance Allowances ( 1600 Rs in urban areas) Step 5: In another column add deductions such as EPF, professional tax, ESI/health insurance, TDS, salary advances, etc… Salary calculation formula for the total paid days = (Original gross salary/Total days in the month) X Paid days in that month. The sum of all the earnings will be called the actual gross salary of the employee. Step 4: Now in one column add all the earnings of the employees such as basic wage, house rent allowances, conveyance allowances, medical allowances & special allowances. ![]()
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