Need Advice on Salary Slip Drafting !

[Ratkiller]

Hi everyone,

I need some guidance on preparing my salary slip for my family-owned business. I’ll be transferring a fixed amount every month from the business account to my personal account as salary.

My main goal is to structure the salary breakdown in a way that shows the highest possible and most stable “Gross Salary” — mainly to improve my credit card limits and eligibility for premium cards (will file ITR as well with that amount).

Would appreciate your inputs on:

• Ideal salary components (Basic, HRA, Allowances, etc.)
• Whether I should include EPF or other deductions
• Any benefits or perks that make the slip look more legitimate
• What details should appear on the slip to make it look professional and acceptable to banks
• I can easily transfer upto 5 Lakh per month but would that be advisable?
• Also do banks ask for form 16 or some other document?

Basically, I want to ensure the salary structure looks realistic, compliant, and credit-friendly. I have been filling ITR after around 11 Lakh already for previous 3 years.

Would love to hear from anyone who has experience with similar setups or has worked on salary documentation for credit evaluation. NOT CREATING ANY FAKE SALARY SLIP OR GETTING INVOLVED IN FORGERY Have a genuine business and money will be transferred every month starting now and will use this after 3 months.

Thanks in advance! 🙏

 

[kiwi195]

 

[sourpai]

Have you done the tax implications of taking salary into your account? Taking 5L salary per month makes you liable to pay 30%+ tax on your salary. Where as claiming salary deduction will not make your business pay 30% less tax

Your net tax outgo calculation is far more important than getting higher credit limits on credit cards

 

[Kabir_1112]

If you are already filing for itr, based on that also you can be eligible for good credit limit and good premium cards. Selected cards are difficult for self employed, but majority are open to apply.

Hi everyone,

I need some guidance on preparing my salary slip for my family-owned business. I’ll be transferring a fixed amount every month from the business account to my personal account as salary.

My main goal is to structure the salary breakdown in a way that shows the highest possible and most stable “Gross Salary” — mainly to improve my credit card limits and eligibility for premium cards (will file ITR as well with that amount).

Would appreciate your inputs on:

• Ideal salary components (Basic, HRA, Allowances, etc.)
• Whether I should include EPF or other deductions
• Any benefits or perks that make the slip look more legitimate
• What details should appear on the slip to make it look professional and acceptable to banks
• I can easily transfer upto 5 Lakh per month but would that be advisable?
• Also do banks ask for form 16 or some other document?

Basically, I want to ensure the salary structure looks realistic, compliant, and credit-friendly. I have been filling ITR after around 11 Lakh already for previous 3 years.

Would love to hear from anyone who has experience with similar setups or has worked on salary documentation for credit evaluation. NOT CREATING ANY FAKE SALARY SLIP OR GETTING INVOLVED IN FORGERY Have a genuine business and money will be transferred every month starting now and will use this after 3 months.

Thanks in advance! 🙏View attachment 111805

 

[Kabir_1112]

@sourpai very well said. If you have itr you can apply and for limit increase request the bank every 6 months based on card usage. You can also ask for upgrades if you are spending good and paying on time after completing 1 year.

 

[onlineramarao]

Salary slip:
1)Need to pay for PF and Employer PF contribution)
2)Need to pay for EPF
3)Need to pay for Professional tax
4)Need to generate form 16 every year
5)Usually the HRA=50% of Basic+DA
6)Special allowance = Rest (Total salary <12L per year)

 

[hellowo₹ld]

Hi everyone,

I need some guidance on preparing my salary slip for my family-owned business. I’ll be transferring a fixed amount every month from the business account to my personal account as salary.

My main goal is to structure the salary breakdown in a way that shows the highest possible and most stable “Gross Salary” — mainly to improve my credit card limits and eligibility for premium cards (will file ITR as well with that amount).

Would appreciate your inputs on:

• Ideal salary components (Basic, HRA, Allowances, etc.)
• Whether I should include EPF or other deductions
• Any benefits or perks that make the slip look more legitimate
• What details should appear on the slip to make it look professional and acceptable to banks
• I can easily transfer upto 5 Lakh per month but would that be advisable?
• Also do banks ask for form 16 or some other document?

Basically, I want to ensure the salary structure looks realistic, compliant, and credit-friendly. I have been filling ITR after around 11 Lakh already for previous 3 years.

Would love to hear from anyone who has experience with similar setups or has worked on salary documentation for credit evaluation. NOT CREATING ANY FAKE SALARY SLIP OR GETTING INVOLVED IN FORGERY Have a genuine business and money will be transferred every month starting now and will use this after 3 months.

Thanks in advance! 🙏

ITR enough to get the card and/or limit, salary slips may not be needed.

 

[Ratkiller]

Have you done the tax implications of taking salary into your account? Taking 5L salary per month makes you liable to pay 30%+ tax on your salary. Where as claiming salary deduction will not make your business pay 30% less tax

Your net tax outgo calculation is far more important than getting higher credit limits on credit cards

Yes, considered that. willing to pay the taxes. I just want to formalise the money I get from my parent's business as I don't have my business of my own and I handle exports for this business.