Suppose a person gets a job in Company @ 50000 p.m
Will the company pay him full 50000?
View answer
No
From this Salary of 50000,His TDS,PF,ESI etc will be deducted and balance amount will be paid to him
While TDS of employee is deposited with Income Tax Department,for PF/ESI employer also contributes
Payroll Processing means
Maintaining List of Different Employees
Deducting and Depositing their various taxes
and determining amount of Salary to be paid to them
We will study TDS,PF and ESI in detail
Lets begin by studying TDS on Flat Salary first