• What are the deductions from employee's salary

Hi,
I'm starting a Private limited company.
I'm not much aware of the tax deductions or professional tax or such.

It would be a great help if someone could explain to me what are the taxes I should deduct from the salary I pay to the employee. It's gonna be a Developer with the pay of ₹70,000, which will amount to 8lakh. I'm taking the help of Vakilsearch for registering the company but I'm confused about what post services I would require and how the whole tax deductions work.

It would be a great help if anybody could explain the entire process. I would also be interested to know if anyone would be able to take care of our post services & how much that would cost.
Asked 4 years ago in Professional Tax

Currently just with 1 employee you only need TDS registration and professional tax registration.

Professional tax registration is required if any of your employee is drawing 10000 or less salary.

TDS registation is compulsory for a company.

You might need PF ESIC registration but not now.

If you need I can assist you with all the services you can give me a phone call if you need to discuss more.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Naman Maloo
CA, Jaipur
4272 Answers
97 Consultations

5.0 on 5.0

Hello,

 

Firstly, TDS registration for your Private Limited Company would be compulsory. TDS deduction every month from the salary would be made for each employee. TDS deduction amount would depend upon the estimated tax liability of the employee, based on his income and deductions details.

Professional Tax Registration would also be compulsory for the company to deduct Professional Tax from the salary of the employee and remit it to the Government.

 

I hope that this answer satisfies your requirements. For further understanding, compliance under Income Tax(TDS), Profesional Tax, Company Law, you can contact us directly at or take a phone consultation.

 

Regards,

CA Hunny Badlani

Hunny Badlani
CA, Madhya Pradesh
2608 Answers
16 Consultations

5.0 on 5.0

Dear Sir,

 

Hope you are doing well !!

 

We may assist you in entire procedure & compliances.

 

It is advisable to take a phone consultation for detailed discussion. 

Payal Chhajed
CA, Mumbai
5188 Answers
288 Consultations

5.0 on 5.0

Hii

In a private limited company many day to day /monthly/ annual compliances s as applicable 

thus plz book a telephonic consultation 

Lalit Bansal
CA, Delhi
773 Answers
61 Consultations

5.0 on 5.0

I would be happy to help you for that 

Vidya Jain
CA, Kolkata
1010 Answers
58 Consultations

4.8 on 5.0

I will give you complete support on the telephone.

S S Rawat
CA, Ghaziabad
36 Answers
1 Consultation

5.0 on 5.0

Hi

 

You would need to obtain a TAN. TDS has to be deducted periodically and TDS return shall have to be filed.

 

We may assist you with the entire procedure.

Lakshita Bhandari
CA, Mumbai
5687 Answers
909 Consultations

5.0 on 5.0

Hi Sir,

I can help you in all compliance post Company Incorporation. Cost depends on case to case. Request you to set up a  Consultation or Meeting in this regard 

Pradeep Bhat
CA, Bengaluru
542 Answers
94 Consultations

5.0 on 5.0

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