Proceeds to place labels around family (7)
I believe the answer is:
takings
'proceeds' is the definition.
(synonyms)
'labels around family' is the wordplay.
'labels' becomes 'tags' ('tag' can be a synonym of 'label').
'around' is an insertion indicator.
'family' becomes 'kin' (synonyms).
'tags' going around 'kin' is 'TAKINGS'.
'to place' is the link.
I am not very happy about this link. Some or all of it may belong to another bit of the clue.
Can you help me to learn more?
(Other definitions for takings that I've seen before include "Income from sales, etc" , "Cash receipts" , "Monetary receipts" , "What's in the till" , "Income from transactions" .)