Register for House Rent Allowance
Register for Provident Fund
Register for Professional Tax
Register for Food Coupen
Register for TDS
Register for NPS Contribution
Register for Voluntarily Provident Fund
Register for Company Provided Transport Deduction
Register for State Labour Welfare Fund Deduction
Register for Company Provided Group Term Insurance Deduction
Register for Leave Availed Deduction
Register for Company Provided Medical Insurance Deduction
Register for Other Deduction from Employer
DA
Dearness Allowance
percentage
contract.wage
Dearness allowance (D.A.) is part of a person's salary. It is calculated as a percent of the basic salary. This amount is then added to the basic salary along with house rent allowance to get the total salary. Or you can say that The Dearness Allowance is a part of the total compensation a person receives for having performed his or her job.
HRAMN
code
result = (payslip.company_id.dearness_allowance and
((contract.wage + categories.DA) * contract.house_rent_allowance_metro_nonmetro / 100)
or (contract.wage * contract.house_rent_allowance_metro_nonmetro / 100))
House Rent Allowance
HRA is an allowance given by the employer to the employee for taking care of his rental or accommodation expenses.
TCA
Transport/Conveyance Allownace
fix
A conveyance allowance refers to an amount of money reimbursed to someone for the operation of a vehicle or the riding of a vehicle. The allowance is typically a designated amount or percentage of total transportation expenses that is referenced in a country's tax laws or code. Organizations and private or public businesses may also offer a conveyance allowance in addition to reimbursing employees or members for transportation expenses. In this instance, the conveyance allowance may identify an unusual transport occurrence that may not be covered by a designated travel expense report such as travel to a specific job site that requires a daily bus or taxi ride.
SA
Grade/Special/Management/Supplementary Allowance
python
result = bool(contract.supplementary_allowance)
code
result = contract.supplementary_allowance
This allowance is normally given as an additional benefit to employees and is fully taxable.
CHEA
Child Education Allowance
python
result = bool(employee.children)
fix
Per school going child 1200 per annum is non-taxable.Maximum for 2 children, so max 2400 per annum becomes non-taxable.
CHEAH
Child Hostel Allowance
python
result = bool(employee.children)
fix
In case the children are in hostel, the exemption available for child.
CBDA
City Compensatory Allowance
none
code
result = (payslip.company_id.dearness_allowance and ((contract.wage + categories.DA) * 0.10)
or (contract.wage * 0.10))
This allowance is paid to Employees who are posted in big cities. The purpose is to compensate the high cost of living in cities like Mumbai, Delhi, etc. However it is Fully Taxable.
CMETRO
City Allowance for Metro city
none
fix
850.0
CNMETRO
City Allowance for Non Metro city
none
fix
800.0
ARRE
Arrears
code
result = inputs.ARS and inputs.ARS.amount
Generally arrears are fully taxable, but employee may claim exemption u/s 89(1).
One would need to compute income tax on the arrears if it would have been received in actual year.
Now difference of income tax between payment year and actual year would be allowed for deduction.
LTA
Leave Travel Allowance
percentage
contract.wage
As per Income tax rules of India, if transport bills for LTA are not provided,the amount will be taxed. E.g. If an employee has LTA allowance as Rs 50,000 in his CTC(cost to company),and he provides proofs of Rs 40,000 (boarding pass,air tickets, taxi vouchers) then income tax will be deducted for rest of the Rs 10,000. Does not matter whats the amount of LTA in an employee’s package, income tax laws only permits domestic air tickets only for LTA claim.
LE
Leave Encashment
none
code
result = inputs.LE and inputs.LE.amount
Payment by way of leave encashment received by Central and State Govt.employees at the time of retirement in respect of the period of earned leave at credit is fully exempt. In case of other employees, the exemption is to be limited to minimum of all below:
1.The actual amount received
2.The cash equivalent of leave balance (max 30 days per year of service)
3.Maximum of 10 months of leave encashment, based on last 10 months average salary
4.Rs. 3 Lakh
PI
Performance Incentive
code
result = inputs.PERF and inputs.PERF.amount
This would be fully taxable based on incentive.
BONUS
Bonus
code
result = inputs.BNS and inputs.BNS.amount
This would be fully taxable based on Bonus.
MEDA
Medical Allowance
fix
This component is on-taxable up to 15000 per year (or Rs 1250 per month) on producing medical bills.
MEDA
Medical Reimbursement
code
result = inputs.MR and inputs.MR.amount
This component is on-taxable up to 15000 per year (or Rs 1250 per month) on producing medical bills.
fix
worked_days.WORK100.number_of_days
FC
Food Allowance
PERJ
Periodical Journals
code
result = inputs.PJ and inputs.PJ.amount
Some employers may provide component for buying magazines, journals and books as a part of knowledge enhancement for business growth.This part would become non taxable on providing original bills.
UNIFS
Uniform/Dress Allowance for Senior Executive
fix
Some sections of employees mat get allowance for purchase of office dress/uniform.In such case, the component would become non-taxable.
UNIFJ
Uniform/Dress Allowance for Junior Executive
fix
Some sections of employees mat get allowance for purchase of office dress/uniform.In such case, the component would become non-taxable.
TELR
Telephone Reimbursement
code
result = inputs.TR and inputs.TR.amount
In some of the cases, companies may provide a component for telephone bills.Employees may provide actual phone usage bills to reimburse this component and make it non-taxable.
PDA
Professional Development Allowance
fix
CAR
Car Expenses Reimbursement
code
result = inputs.CEI and inputs.CEI.amount
In case company provides component for this and employee use self owned car for official and personal purposes, Rs 1800 per month would be non-taxable on showing bills for fuel or can maintenance. This amount would be Rs 2400 in case car is more capacity than 1600cc.
INT
Internet Expense
code
result = inputs.IE and inputs.IE.amount
Employer may also provide reimbursement of internet expenses and thus this would become non taxable.
DRI
Driver Salary
python
result = bool(contract.driver_salay)
fix
Rs. 900 per month (non taxable)
TDS
Tax Deducted at Source
python
result = bool(contract.tds)
code
result = -(contract.tds)
As per income tax rules, all payment which are taxable in nature should be done after deduction of taxes at the source itself. Hence employer compute income tax on salary payment and deduct it every month. This TDS is based on employee’s saving/investment declaration at the start of year. If investments for tax saving is not done, large amount may be deducted in last few months.
PTD
Professional Tax
python
result = contract.wage >= 3000
code
result = (-200 if contract.wage >= 12000
else -150 if ((contract.wage >= 9000) and (contract.wage <= 11999))
else -80 if ((contract.wage >= 6000) and (contract.wage <= 8999))
else -20 if ((contract.wage >= 3000) and (contract.wage <= 5999))
else -0)
Workers living in states that impose the professional tax must submit a payment each half-year for the right to practice a profession or trade. It applies equally to employees who work for the national or state government, and those employed by private corporations. The professional tax uses a six-month accounting system, which divides the year into two periods, beginning on April 1 and October 1.
EPMF
Employee's PF Contribution
code
result = (payslip.company_id.dearness_allowance and - ((contract.wage + categories.DA) * 0.12)
or - (contract.wage * 0.12))
Employer contribution does not become part of employee’s income and hence income tax is not payable on this part.
ENPFC
Employee's NPS Contribution
code
result = (payslip.company_id.dearness_allowance and - ((contract.wage + categories.DA) * 0.10)
or - (contract.wage * 0.10))
Employee can claim deduction even of employer's contribution to NPS.
VPF
Voluntarily Provident Fund Contribution
python
result = bool(contract.voluntary_provident_fund)
code
result = (payslip.company_id.dearness_allowance and
- ((contract.wage + categories.DA) * contract.voluntary_provident_fund / 100)
or - (contract.wage * contract.voluntary_provident_fund / 100))
VPF is a safe option wherein you can contribute more than the PF ceiling of 12% that has been mandated by the government.This additional amount enjoys all the benefits of PF except that the employer is not liable to contribute any extra amount apart from 12%.An added advantage is that the interest rate is equal to the interest rate of PF and he withdrawal is tax free. Please note that the maximum contribution towards VPF is 100% of your Basic.The highest rate of interest (close to 9%) makes it a very attractive saving scheme. Because of these advantages many employees chose not to close their PF account even after getting employment else where other than India.Employees also get a major tax break on their entire contribution to the fund up to a ceiling of Rs. 70,000/-
CPT
Deduction for Company Provided Transport
none
fix
Company provided transport amount is based on company.
fix
worked_days.WORK100.number_of_days
FD
Deduction Towards Food Coupons
LWFE
Employee's Deduction Towards State Labour Welfare Fund
fix
The LWF is applicable to all the members of the organisation except the Management staff (Staffs having authority to sign on the cheque/official documents on behalf of the organisation). for e.x. Employee Contribution is Rs. 3.00 and Employer contribution Rs. 6.00 Total Rs 9.00 and deposited to the LWF office.It is half yearly contribution (June and December).
LWF
Employer's Deduction Towards State Labour Welfare Fund
fix
The LWF is applicable to all the members of the organisation except the Management staff (Staffs having authority to sign on the cheque/official documents on behalf of the organisation). for e.x. Employee Contribution is Rs. 3.00 and Employer contribution Rs. 6.00 Total Rs 9.00 and deposited to the LWF office.It is half yearly contribution (June and December).
CGTI
Deduction Towards Company Provided Group Term Insurance
fix
Group term insurance provides a solid foundation to a comprehensive employee benifit program,backed up by government asistance in the form of valuable tax incentives to both employees and employers.
DLA
Deduction Towards Leave Availed
none
code
result = inputs.LAI and - (inputs.LAI.amount)
CMT
Deduction Towards Company Provided Medical Insurance
python
result = bool(contract.medical_insurance)
code
result = - (contract.medical_insurance)
ODE
Other Deduction from Employer
fix
ENPC
Employer's NPS Contribution
code
result = (payslip.company_id.dearness_allowance and - ((contract.wage + categories.DA) * 0.10)
or - (contract.wage * 0.10))
Any amount contributed by your employer to your NPS account is treated as part of your salary and is included in your income but you can claim deduction under Section 80C for this too.thus, effectively making it exempt from tax within the limit of 10% of your basic salary. This is very useful and tax efficient for you particularly if you fall in the maximum tax.
EPF
Employer's PF Contribution
code
result = (payslip.company_id.dearness_allowance and - ((contract.wage + categories.DA) * 0.12)
or - (contract.wage * 0.12))
Both the employees and employer contribute to the fund at the rate of 12% of the basic wages, dearness allowance and retaining allowance, if any, payable to employees per month.
PERF
Performance of Employee
BNS
Bonus of Employee
ARS
Arrears
LE
Leave Encashment
PJ
Periodical Journals
TR
Telephone Reimbursement
CEI
Car Expenses
IE
Internet Expence
LAI
Leave Availed
MR
Medical Reimbursement