How to calculate basic, HRA, conveyance & other of total salary amount example Rs 46200/-
From India, Noida
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From India, Noida
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Hello Neeta,
Below is the breakup of the salary:
Basic is 30% of the gross salary.
HRA is 50% of Basic.
Conveyance is Rs. 9,600 fixed.
Medical Allowance is Rs. 15,000 fixed.
All remaining amounts will fall under Other Allowances.
Regards,
Riha Nair
From India, Mumbai
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3Below is the breakup of the salary:
Basic is 30% of the gross salary.
HRA is 50% of Basic.
Conveyance is Rs. 9,600 fixed.
Medical Allowance is Rs. 15,000 fixed.
All remaining amounts will fall under Other Allowances.
Regards,
Riha Nair
From India, Mumbai
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Hello there,
This all depends on the company policy. I am sharing with you my company's practices; I hope that may help you.
- BASIC: 50% of CTC
- HRA: 50% of Basic
- TA: 1600 MAX
- MEDICAL: 1250
- LTA: 8.33% of BASIC
- BONUS: 8.33% of BASIC
- C.E.A.: 200
- SPECIAL ALLOWANCE: BALANCE FIGURE
Regards,
Prem
9251400802
From India, Alwar
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This all depends on the company policy. I am sharing with you my company's practices; I hope that may help you.
- BASIC: 50% of CTC
- HRA: 50% of Basic
- TA: 1600 MAX
- MEDICAL: 1250
- LTA: 8.33% of BASIC
- BONUS: 8.33% of BASIC
- C.E.A.: 200
- SPECIAL ALLOWANCE: BALANCE FIGURE
Regards,
Prem
9251400802
From India, Alwar
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How to calculate basic, HRA, conveyance & Medical of total salary amount in Percentage Gross - 100% Basic - 50 % of Gross Hra - 30% of Gross Conveyance - _____ Medical - _________
From India, New Delhi
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From India, New Delhi
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Payroll calculations usually constitute 4 main components – Basic pay, Allowances, Deductions, and IT Declarations. Income Tax is calculated on (Basic + Allowances – Deductions) * 12 – (IT Declarations + Standard deductions)
Gross Pay
Gross Pay is the sum of Basic pay + Allowances.
Net Pay
Net Pay is the difference between Gross Pay – (Deductions + Total TDS). Total TDS is the sum of TDS, Surcharge, Health & Education Cess.
HRA
The amount received as the HRA from the employer. Actual rent paid less 10% of the basic salary and 50% of the basic salary if staying in a metro city and 40% in a non-metro city.
Basic Pay
Basic Pay is 50% of Gross salary (Gross * 0.5).
Deductions
Deductions are the sum of PF, ESI, and PT etc.
• TDS is calculated on (Basic + Allowances – Deductions) * 12 – (IT Declarations + Standard deductions)
• PF deduction(Provident Fund) is 12% of Basic or 15,000, which ever is lower
• ESI is 0.75% of – Gross Pay or 21,000, whichever is lower
• Standard deductions (50,000)
Know more at: www.sumopayroll.com
From India
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Gross Pay
Gross Pay is the sum of Basic pay + Allowances.
Net Pay
Net Pay is the difference between Gross Pay – (Deductions + Total TDS). Total TDS is the sum of TDS, Surcharge, Health & Education Cess.
HRA
The amount received as the HRA from the employer. Actual rent paid less 10% of the basic salary and 50% of the basic salary if staying in a metro city and 40% in a non-metro city.
Basic Pay
Basic Pay is 50% of Gross salary (Gross * 0.5).
Deductions
Deductions are the sum of PF, ESI, and PT etc.
• TDS is calculated on (Basic + Allowances – Deductions) * 12 – (IT Declarations + Standard deductions)
• PF deduction(Provident Fund) is 12% of Basic or 15,000, which ever is lower
• ESI is 0.75% of – Gross Pay or 21,000, whichever is lower
• Standard deductions (50,000)
Know more at: www.sumopayroll.com
From India
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