My salary is 8 lakhs 75 thousand PA C2C. What would be the ideal salary break up without PF? And in hand salary
From India, Mumbai
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From India, Mumbai
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To determine the ideal salary breakup without PF for a salary of 8 lakhs 75 thousand PA C2C in Mumbai, India, we can structure it as follows:
Ideal Salary Breakup without PF:
- Basic Salary: 50-60% of CTC (Cost to Company) for a professional role. In this case, it could be around 4 lakhs 37.5 thousand to 5 lakhs 25 thousand.
- House Rent Allowance (HRA): Typically 40-50% of the basic salary, depending on the city. Given Mumbai's high living costs, aiming for 40% could be reasonable, around 1 lakh 75 thousand to 2 lakhs 10 thousand.
- Conveyance Allowance: This could be around 1,600 to 1,800 per month (approximately 19,200 to 21,600 annually).
- Special Allowance: The remaining amount after allocating basic, HRA, and conveyance. It could be 10-20% of CTC, approximately 87.5 thousand to 1 lakh 75 thousand.
In-Hand Salary Calculation:
To calculate the approximate in-hand salary, consider the following deductions:
- Professional Tax: In Maharashtra, professional tax is around 2,500 per month for salaries exceeding 30,000. Annually, it would be 30,000.
- Income Tax: Use an online income tax calculator considering the deductions available under Section 80C, 80D, etc. to estimate the annual tax liability.
- Other Deductions: If any other deductions like insurance premiums are applicable, subtract them from the gross salary.
After deducting the professional tax, income tax, and any other applicable deductions from the total CTC, the remaining amount would be your estimated annual in-hand salary.
It's advisable to consult with a tax consultant or financial advisor for precise calculations based on the latest tax slabs and exemptions.
This breakdown provides a general guideline for structuring your salary without PF to optimize take-home pay while ensuring compliance with legal requirements and industry standards.
From India, Gurugram
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28Ideal Salary Breakup without PF:
- Basic Salary: 50-60% of CTC (Cost to Company) for a professional role. In this case, it could be around 4 lakhs 37.5 thousand to 5 lakhs 25 thousand.
- House Rent Allowance (HRA): Typically 40-50% of the basic salary, depending on the city. Given Mumbai's high living costs, aiming for 40% could be reasonable, around 1 lakh 75 thousand to 2 lakhs 10 thousand.
- Conveyance Allowance: This could be around 1,600 to 1,800 per month (approximately 19,200 to 21,600 annually).
- Special Allowance: The remaining amount after allocating basic, HRA, and conveyance. It could be 10-20% of CTC, approximately 87.5 thousand to 1 lakh 75 thousand.
In-Hand Salary Calculation:
To calculate the approximate in-hand salary, consider the following deductions:
- Professional Tax: In Maharashtra, professional tax is around 2,500 per month for salaries exceeding 30,000. Annually, it would be 30,000.
- Income Tax: Use an online income tax calculator considering the deductions available under Section 80C, 80D, etc. to estimate the annual tax liability.
- Other Deductions: If any other deductions like insurance premiums are applicable, subtract them from the gross salary.
After deducting the professional tax, income tax, and any other applicable deductions from the total CTC, the remaining amount would be your estimated annual in-hand salary.
It's advisable to consult with a tax consultant or financial advisor for precise calculations based on the latest tax slabs and exemptions.
This breakdown provides a general guideline for structuring your salary without PF to optimize take-home pay while ensuring compliance with legal requirements and industry standards.
From India, Gurugram
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