Instructions/ Informations for Using Salary Calculator Entries can be made only in the Yellow Coloured Cells. Yellow Coloured cells are password protected. The password is 'sky' Investment Details
Fill what ever investments made so far and estimated to be made during the year in deduction available is the actual amount of total investments as per Investment deta Name of the Employee Type your name in the cell provided
CTC Type your Annaul CTC amount excluding performance bonus/variable pay/retainer fe Performance Bonus or Variable Pay or Retainership Fees
Fill the amount of Variable Pay as per your offer Letter. Once you fill the amount the and you can have all the details of F.Pay,V.Pay, TDS on V.Pay & Total take home pay Annual Contribution to Mediclaim Insurance
Fill the amount of total contribution to Mediclaim Insurance policy. The maximum de or Rs 15000 whichever is less. Annual Interest paid on Housing Loan
Fill the amount of interest paid on housing loan for the year. The maximum deductio Rs 150000 whichever is less Annual Interest paid on Education Loan Fill the amount of interest paid on higher education loan for the year. The deduction Monthly Rent Paid
Fill the amount of monthly rent paid. If the amount is not uniform, then fill the avera
Number of Months up to 31/03/2008 from date of joining/revision of salary
This cell is for calculating number of months for which Tax has to be deducted at sou considered as full month. So if balance number of months is 7 & half months, then ty In case of employees already existing from 01/04/2007 fill it as "12"
ord is 'sky'
e during the year in Investment details sheet. The Maximum per Investment details sheet or Rs 100000 whichever is less
able pay/retainer fees in the cell provided
fill the amount the total take home pay sheet gets updated otal take home pay
. The maximum deduction available is the actual amount of contribution
maximum deduction available is the actual amount of Interest or
ear. The deduction is available for interest payment of 8 years
, then fill the average amount of Rent for a month
evision of salary
be deducted at source.For tax purposes, a part of a month is half months, then type as "8" months in the cell. it as "12"
Investments eligible for decution U/S 80 C of I.T. Act S.No 1 2 3 4 5 6 7 8 Total
Particulars of Investments during the year Amount Contribution to PPF 25000 Contribution to Life Insurance Premium 15000 Investments in NSC 0 Investments in 5 yearly Fixed Deposits of Bank 0 Principal repayment amount of Housing Loan 0 Tution fees paid for 2 children in the year 0 Investments in approved shares 0 Investments in approved mutual funds 0 40000
Please fill the details only for the months worked in previous organis Please do not alter "0" cells
Previous Employment Salary Details Employee Name
Form 16 Computation for FY 2008-2009 , AY 2009-201 Particulars
AmountApr'08May'08Jun'08 Jul'08 Aug'08Sep'08Oct'08
Basic
0
HRA
0
Medical
15000
Allowances
0
Variable Pay
0
Employer PF
0
1250
1250
1250
1250
1250
1250
1250
Gross Salary 15000
1250 1250 1250 1250 1250 1250 1250
Deductions
Apr
Loss of Pay
0
Employer PF
0
Employee PF
0
PT
0
Income Tax
0
Others
0
Total
0
Net Salary
May
0
0
0
0
Jun
Jul
0
0
Aug
0
0
Sep
0
0
Oct
0
0
0
0
15000 1250 1250 1250 1250 1250 1250 1250
in previous organisation
t Salary Details
08-2009 , AY 2009-2010 Nov'08Dec'08Jan'09Feb'09Mar'09
Total 0 0
1250
1250
1250
1250
1250
15000 0 0 0
1250 1250 1250 1250 1250
15000
Nov
Total
Dec
Jan
Feb
Mar
0 0
0
0
0
0
0
0
0
0 0 0
0 0
0
0
0 0
0
0
1250 1250 1250 1250 1250
15000
C Ahead Info Technologies India Pvt Ltd Salary Calculator Name of the Candidate/Employee Anil kumar Damhodara PAN of the Employee Date of Joining 01-Jul-07 Financial Year ending date 31-Mar-09 Annual Fixed Pay - Rs. Variable Pay or Performance Bonus or Retainership Fees Annual CTC - Rs Estimated Annual Contribution to Mediclaim Insurance if any Estimated Annual Interest Paid on Housing Loan availed if any Estimated Annual Interest Paid on Education Loan availed if any Estimated Monthly Rent (if any) payable by the employee Number of months up to 31/03/09 from 01/04/08/date of joining/revision Estimated Annual Investments eligible for deduction U/S 80 C of I.T.Act Monthly Fixed Pay - Rs. Minimum Rent to be paid to claim whole amount of HRA as exemption HRA of Previous Employment/ Previous Salary Structure HRA Exemption per month for rent paid TDS per month after considering all exemptions & Invesments Net Take Home Fixed Pay Salary Structure Details Basic Pay (40% of Monthly Fixed Pay ) HRA (40% of Basic Pay ) Total Fixed Pay per month Total Allowances per Month Employer's Contribution to PF(12% of Basic ) FBT ( Fringe Benefit Tax payable by Company ) Net Fixed Pay per Month Net Take Home Fixed Pay Details Monthly Salary Less: Deductions Profession Tax Employer's Contribution to PF(12% of Basic )
200 -
Own Contribution to PF (12% of Basic) TDS Tax deduction ) FBT ((Income Fringe Benefit Tax payable by Company) Total Deductions Net Take Home Fixed Pay
#DIV/0! 139
Actual Net Take Home Fixed Pay Considering postponed income of PF Net Take Home Pay Add: Employer's & Own Contributions to PF which will be received by the employee in future hence not a cost to the employee Interest @ 8.5% P.A. on the contribution amount for 1 Month Actual Net Take Home Fixed Pay Considering postponed income of PF Permanent Tax Cost to the Employee per month(Only on Fixed Pay ) Profession Tax Income Tax ( TDS ) Fringe Benefit Tax (FBT ) Total Permanent Tax Cost to the Employee per month Net permanent tax cost percentage on salary
Components of Salary Structure Month
Particulars Fixed Pay Basic Salary House Rent Allowance Total Reimbursements /Allowances Medical Reimbursement Food, & Beverages Reimbursement Petrol,Drinks Traveling & Conveyance Reimbursement Mobile ChargesReimbursement Other Allowances Total Retirement Benefits Employer Contribution to PF Total Fringe Benefit Tax Medical Reimbursement Food, & Beverages Reimbursement Petrol,Drinks Traveling & Conveyance Reimbursement Mobile ChargesReimbursement Total
1,250 600 800 (2,789) (139) 85 41 14 139
Total Salary Less : Exemptions House Rent Allowance Medical Allowance Food, & Beverages Reimbursement Petrol,Drinks Travelling & Conveyance Reimbursement Mobile ChargesReimbursement Company's Contribution to PF Fringe Benefit Tax paid by Company Total Gross Salary Gross Salary before HRA Exemption Gross Salary for Months Worked in CAT Gross Salary of Previous Employment HRA Exemption for the Whole Year Less : Deducations U/s 16 Tax on Employment Tax on Employment in Previous Employment Taxable Salary Less : Deduction U/s 80C 1. PF - Employee 2. PF - Employee in Previous Employment 2. Other Investments Total Eligible Amount U/S 80 C Deduction U/S 80 D for mediclaim Insurance Deduction U/S 80 E for Int on Education loan
0 1,250 600 800 139 2,789
200
-
Total deductions Less: Interest paid on Housing Loan Net Taxable Income for the Months Worked Tax Liability Add : Surcharge @ 10% Marginal Relief Calculation Marginal Relief claimed Add : Education Cess @ 3% Total Tax Liability Tax Deducted by Previous Employer Tax Liability per month Monthly Take Home Pay Fixed Pay Other allowance Less : Deductions Profession Tax
(139) 200
Provident Fund Income Tax Net Take Home Pay
#DIV/0!
Tax on Performance Pay Taxable Fixed Income If I Half Year P.Pay falls within the FY If II Half Year P.Pay falls within the FY
25000 0
25000 Total Performace Pay Total Taxable Income Tax liability Add : Surcharge @ 10% Marginal Relief Calculation Marginal Relief claimed Add : Education Cess @ 3% Total Tax Liability Excess Tax Paid on Performace Pay TDS Pay outs on Performance Pay I Half Year II Half year
Total TDS on P.Pay
#DIV/0! 0
#DIV/0!
t Ltd
nil kumar Damhodara 01-Jul-07 31-Mar-09 50000 50000 15000 0 0 0
40000 0 #DIV/0! #DIV/0!
(139) 139 -
-
#DIV/0! #DIV/0!
oned income of PF #DIV/0!
#DIV/0!
nly on Fixed Pay ) 200 #DIV/0! 139 #DIV/0! #DIV/0!
Annual 15,000 7,200 9,600 (33,472) (1,672) 1,020 489 163 1,672
0 15,000 7,200 9,600 1,672 33,472 (33,472) (33,472) 0 0 0 0 40000 40,000 15000 0 55,000 0 (55,000) 0 0 0 0 #DIV/0!
(139)
HRA Exemption Calculation Excess of Rent Over 10% of Sal Actual HRA 40% of Basic Salary HRA Exemption Amount
0 0 0 0
#DIV/0! #DIV/0!
Performance Pay Payment Periods (55,000)
Employee Name Date of Joining Year I
Anil kumar Damhodara 01-Jul-07 At the Date Percenta Half Year End of ge Due Payment 1/10/200 31/10/20 I 7th Month 50.0% 8 08 30/04/20
I 25,000 (30,000) 0 0 0 #DIV/0!
Total for the Year
II
13th Month
50.0%
1/4/2009
09
mar Damhodara 01-Jul-07 Amoun t 25000 25000 50000
D.O.J. Form 16 Computation for FY 2008-2009 , AY 2009-2010 Particulars Amount Apr May Jun Jul Basic 0 0 0 0 0 HRA 0 0 0 0 0 Lunch Reimb. 7200 600 600 600 600 Medical Reimb. 15000 1250 1250 1250 1250 Petrol Reimb. 9600 800 800 800 800 Mobile Reimb. 0 0 0 0 0 Allowances (33472) (2789) (2789) (2789) (2789) FBT 1672 139 139 139 139 Employer PF 0 0 0 0 0 I Half Yr P.Pay 25000 II Half Yr P.Pay 0 Total P.Pay 25000 Gross Salary 25000 0 0 0 0 (-)Exemptions: HRA 0 Rent paid during the year Lunch Reimb. 7200 Medical Reimb. 15000 Petrol Reimb. 9600 Phone Reimb. 0 Apr May Jun Jul LOP - F.P. 0 0 0 0 0 LOP - V.P. 0 0 0 0 0 FBT 1672 Employer PF 0 Total 33472 Net Salary (8472) (-)Ded. U/s 16 Apr May Jun Jul PT 2400 200 200 200 200 Taxable Salary ### (-)Ch-VIA Deductions 80 C LIP, Inv 40000 Apr May Jun Jul Employee PF 0 0 0 0 0 80 D 15000 80 E 0 Total 55000 (-) Hsg Loan Int. 0 Total Income ### Tax on Income 0 (+)S.C.@ 10% 0
Aug Sep Oct Nov 0 0 0 0 0 0 0 0 600 600 600 600 1250 1250 1250 1250 800 800 800 800 0 0 0 0 (2789) (2789) (2789) (2789) 139 139 139 139 0 0 0 0
0
0
Aug
0
0
Apr Yes Oct Yes Sep Oct
0 0
0 0
0 Months Worke May Yes Nov Yes Nov
0 0
0 0
Which P.Pay falls within th I Half Year
Yes Aug
Sep
200
Aug
Oct
200
Sep
0
Nov
200
Oct
0
200
Nov
0
0
0 (+)Cess @ 3% 0 Total Tax 0 Apr May Jun Jul Aug Sep Oct Nov (-) TDS on F.P #DIV/0! ### ### ### ### ### ### ### ### (-)TDS on PP.I #DIV/0! (-)TDS on PP.II 0 Prev.Emp.TDS 0 0 0 0 0 0 0 0 0 CAT TDS ### ### ### ### ### ### ### ### ### Total TDS #DIV/0! ### ### ### ### ### ### ### ### Balance Payable#DIV/0! F.P. (Sal) ### ### ### ### ### ### ### ### Reimb. 2650 2650 2650 2650 2650 2650 2650 2650
Take Home
P.P Total
###
###
I Half Year #DIV/0! ### ###
II Half Ye 0 ###
###
###
###
### D.O.L
9 , AY 2009-2010 Total Dec Jan Feb Mar 0 0 0 0 0 0 0 0 0 0 600 600 600 600 7200 1250 1250 1250 1250 15000 800 800 800 800 9600 0 0 0 0 0 (2789) (2789) (2789) (2789) (33472) 139 139 139 139 1672 0 0 0 0 0
0 0 0 Months Worked in CAT Jun Jul Aug Yes Yes Yes Dec Jan Feb Yes Yes Yes Dec Jan Feb
0 0
0 0
0 Sep Yes Mar Yes Mar
0 0
0
Total 0 0 0 0
P.Pay falls within the FY? II Half Year
No Dec
Jan
200
Dec
Feb
200
Jan
0
200
Feb
0
Total 200 2400
Mar
Mar
0
Total 0 0
Number of Days Employeed as on the Last day o 30-Apr-07 0 ### 0 30-Jun-07 45 31-Jul-07 75 ### 105 ### 135 31-Oct-07 165 ### 195 ### 225 31-Jan-08 255 ### 284
### 30-Apr-08 ### 30-Jun-08
315 345 375 405
10000
1250
Dec ###
Total Jan Feb Mar ### ### ### ### 0
0 ### ###
0 ### ###
0 ### ###
0 ### ###
0 ### ###
### ### ### ### #DIV/0! 2650 2650 2650 2650 31800 II Half Year 0 #DIV/0! ### ### ### ### #DIV/0!
d as on the Last day of
Details Required 1. 2. 3. 4.
Rent Receipts to be submitted quarterly Medical bills of Rs 1250 per month to be submitted quarterly Petrol bills as specified in your salary structure have to be submitted quarterly Copies of Receipts/Details required to be submitted quarterly for the following: Investments made in PPF Investments made in NSC Housing Loan Principal & Interest Certificate from the Bank Mediclaim Insurance Premium Life Insurance Premium Interest on Education Loan certificate from Bank Fixed Deposit certificate 5. PAN details to be submitted if not provided earlier 6. As per Sandeep's Instructions, if bills/details are not provided before the end of will be reversed and will be adjusted in the subsequent months on submission of b 7. For the current & next quarter, the last date of submission of bills/details is 29/09/2007 8.Please intimate the Finance department for any change in your CTC before the salary finali
following:
before the end of a particular quarter, then the tax deductions calculated earlier on submission of bills/details ils is 29/09/2007 fore the salary finalisation date
d earlier