Homemaker to be Declared as Home Manager?
Date :30th March 2017
Low Socio-economic level of women is directly linked to the custom of society to not value domestic work. Ironically, it's woman's selfless hard labor, which ensures the smooth running of a home, enabling men to carry on with their engagements and interactions with the outside world. The solution to tackle this issue which is not only going to boost the morale of the home-maker but also help their spouses are cited below:
keyboard_arrow_right Equating House-wife to a profession.
keyboard_arrow_right Renaming House-wife to “Home Manager”
keyboard_arrow_right Salary for home-manger to be paid by spouse.
keyboard_arrow_right Compulsory employee benefits deduction for medical&life insurance and provident fund in the salary.
keyboard_arrow_right Full tax benefits to the spouse paying salary.
How it will work
Let’s assume a spouse Mr Y earns Rs M and Mrs X is his Home-manager (his wife).
No, Mr Y declares 20% of his salary to be paid as salary to the “Home-Maker” Mrs X which will compulsorily include medical& life insurance and provident fund deduction.
Mr Y should be paying tax only on Rs. M minus 20%M and Mrs X will pay tax for the salary she receives from Mr Y, if she falls under tax bracket.
The salary will be deposited in Mrs X bank account by Mr Y. The tax benefits will be based on the amount declared by Mr Y which should corresponds to the salary paid to Mrs X
How This Helps to Home-maker
keyboard_arrow_right Boost the confidence of women/men who are home-maker.
keyboard_arrow_right Health& life insurance of women will be made compulsorily which is most neglected.
keyboard_arrow_right Women can look after their paternal needs with their salary.
keyboard_arrow_right Tax benefits to spouse.
How This Helps to Govt.
keyboard_arrow_right Rather than increasing the tax-slab, deduction of home-manger salary will reduce tax burden at no additional loss of tax to the Govt.
keyboard_arrow_right Assist Govt. in full-filling its pledge to provide health insurance to all, especially to the women who are neglected.
keyboard_arrow_right It will boost medical and life insurance sector, which will add to revenue of the Govt.
keyboard_arrow_right It will increase the number of saving accounts with savings in banks which will fuel economic growth of the country.