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Please give Leave encashment formula. Profession Tax & Pf
or any other Dedecution deduct on leave encashment or not.
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Answer / ashfaque
if company deducting from gross salary due to absent, is
bound to pay leave encashment on gross not on basic salary.
| Is This Answer Correct ? | 9 Yes | 3 No |
Answer / neelam garg
formula: Basic Salary/26(working days consider as per govt)
*no of leaves suppose basic salary 7500 & pending leaces 10
than leaveencashment amount will be : 7500/26*10=2884.61Rs
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / p. navaneetha krishnan
If an employee having Credit on is Leave (which can be
withdrawn / encashed) that will be paid (only the basic
amount not full day salary)
On encashment of leave, Government Levy should be deducted
@ 12% on the arriving amount and the same need to be paid
to the governement along with the employer contribution
(Provident Fund Account)
12% on Gross Amount from employer and employee to be paid
to Provident Fund Account without fail and immediately.
Professional Tax is a tax of the State Government, need to
be paid twice in a year September / March - October / April
on every year as per the given slabs by the governement as
far as tamilnadu is concerned it is maximum of Rs.810/- for
six month if salary (Gross) exceeds Rs.75000/-.
| Is This Answer Correct ? | 9 Yes | 14 No |
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3 Answers L&T, Samiah International Builders,
What is Tax Audit ? Brief description please
What is excise & service tax? What is the difference?
We are purchaseing one machine on duty of payment ( Capital Goods) in the staring of the month financial year 2009-10 at the time of purchase of machine we are not registered with the excise department. But my company registred with the excise department end of the same financial year What can we are taken cenvat credit on capital goods in the year 100% of 50% pls. given the comments or explain me all excise exparts.
What are the accounting entries to be passed for TDS if person who is assessed is a Firm (or) Proprietorship (or) Company (or) person? Eg: I (CDE & Co) paid Rs. 1,00,000/- through ICICI Bank after deducting 10% of the amount (Rs. 10,000/-) as TDS (Tax Deducted as Source) to “ABC & Co” (i would like to know the entry to be posted in "CDE & Co" and "ABC & Co")
Audit 
