You would be responsible for
- Preparing Salary Sheets
- Deducting and Depositing TDS
- Filing TDS/PF/ESI Returns
- Issuing TDS Certificates
- Helping employees file their ITR
Following list will help you
1.Obtain Attendance Sheet/Leave Details/New joinings/Resignations/Increments Detail form HR in excel format
2.On basis of these sheet,we will prepare Salary Sheet for Month
3.How to Deduct TDS
Obtain Declaration form at the time of year opening(20th April) or on employee joining.It mentions savings which will be done during year.
Actual Proofs are collected as follows
- For Fully exempt allowance,take bills monthly.If no bills,then written declaration reqd from emplyees
- For HRA,Rent receipts reqd .Pan Card of landlord reqd when rent paid is above 100000.(Rent Agreement not sufficient, receipts reqd
- For CEA, declaration of number of children required
- For Medical Reimbursement, bills of chemist and doctors required, A box is placed where employees put their bills. Excel sheet is maintained where payroll accountant maintains employee medical bill details. Those who do not give the bills are taxed in March.
- For Other Perquisites,Bills required if monetary
- For Motor Car
- If used for Official Purpose-Register to be maintained
- If used for Official & Personal Purpose-Written Declaration required
- If more than 1 car given, second car personal purpose, fully taxable
For RFA, Details of Rent paid from Co and any amount claimed from employee
For Deductions
- Original Savings Proof Required.If Zeroz given,still original reqd for verification
- For Housing Loan/Education Loan,Letter required from bank mentioning principal and interest repaid.
3.For Insurance,Ins Receipts reqd ,Not Insurance Amt Due letter
THINGS TO BE CHECKED IN BILL
- It should have employee name
- It should be paid within 1 April to 31 March
- For Joint property,declaration reqd that spouse is not claiming.If no declaration,then half benefit.
Written on Aug. 24, 2016, 6:31 p.m.