Hi alll, can anyone share salary break up for CTC 15,568p.m, please share as per May 2010 Esic n Pf/ Pt slab Govt Rules? Thanks & Regards, sheeetal
From India, Mumbai
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1From India, Mumbai
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CTC breakup differs from company to company when deciding on the percentage of basic, etc.
ESIC is calculated on gross income, with employees contributing 1.75% and employers contributing 4.75%, making the total contribution 6.5%.
PF is calculated on the basic salary, with employees contributing 12% and employers contributing 13.61%, totaling 25.61%.
PT is slab-wise, with no tax for income up to 5000, Rs. 175 for income between 5001 to 10,000, and Rs. 200 for income above 10,000 per month, except for February when it is Rs. 300.
MLWF is deducted once every six months, with a rate of Rs. 12 for salaries above Rs. 3000 gross per month and Rs. 6 for salaries below that.
From India, Mumbai
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ESIC is calculated on gross income, with employees contributing 1.75% and employers contributing 4.75%, making the total contribution 6.5%.
PF is calculated on the basic salary, with employees contributing 12% and employers contributing 13.61%, totaling 25.61%.
PT is slab-wise, with no tax for income up to 5000, Rs. 175 for income between 5001 to 10,000, and Rs. 200 for income above 10,000 per month, except for February when it is Rs. 300.
MLWF is deducted once every six months, with a rate of Rs. 12 for salaries above Rs. 3000 gross per month and Rs. 6 for salaries below that.
From India, Mumbai
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Thank you, Yaasmin, for your quick and kind reply. One more request: could you please send me the format for this figure, i.e., for 15568, how can it be presented in a salary slip format? If possible, reply; otherwise, I will try it.
Thanks & Regards,
Sheetal
From India, Mumbai
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Thanks & Regards,
Sheetal
From India, Mumbai
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there no of formats on cite hr, do search for it, u will get the help, there r no of excel sheets for salary slip or ctc break up, do search, u will get better help than me.
From India, Mumbai
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From India, Mumbai
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Hi,
For PF, it depends on you if you want to contribute or not because above 6500/- it's not compulsory, and PT = 200. The same goes for ESI; above 15000/- PM, ESI deduction is not compulsory. So, the breakup will be: Basic = 11068, HRA = 3500, Travel Allowance = 800, PT = 200.
I hope this information helps you.
Thanks,
Monisha Agrawal
From India, Pune
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For PF, it depends on you if you want to contribute or not because above 6500/- it's not compulsory, and PT = 200. The same goes for ESI; above 15000/- PM, ESI deduction is not compulsory. So, the breakup will be: Basic = 11068, HRA = 3500, Travel Allowance = 800, PT = 200.
I hope this information helps you.
Thanks,
Monisha Agrawal
From India, Pune
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Dear Member,
Your Cost to Company (CTC) concept is not clear. It may involve various aspects.
Kindly find below the salary details:
- Basic (50% of total salary) = 7784
- HRA (50% of basic) = 3892
- Transport Allowance = 0800
- Special Allowance = 1592
- Medical Reimbursement = 1500
- Deductions: PF = 780 @12% of Max. 6500
ESI deduction is not applicable.
Note: You may deduct any other amounts as applicable, like TDS, etc.
Thanks,
Surendra Verma
From India, Delhi
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Your Cost to Company (CTC) concept is not clear. It may involve various aspects.
Kindly find below the salary details:
- Basic (50% of total salary) = 7784
- HRA (50% of basic) = 3892
- Transport Allowance = 0800
- Special Allowance = 1592
- Medical Reimbursement = 1500
- Deductions: PF = 780 @12% of Max. 6500
ESI deduction is not applicable.
Note: You may deduct any other amounts as applicable, like TDS, etc.
Thanks,
Surendra Verma
From India, Delhi
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Dear Sheetal , Please find the attachment as desired by you for CTC Rs.15568 on EXCEL. TDS Deduction applicable on Net Salary..... Regards, Abhinav
From India, Bangalore
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From India, Bangalore
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Hello sir,
Thanks for the valued information. One more help please. Can you please tell us how to calculate the following:
1) Basic - 50% of total
2) HRA - 50% of the basic
3) Medical allowance
4) Traveling allowance
5) Special allowance
6) Sodexo meal pass
7) Business attire
I am very confused about the above calculations in my organization. I have to provide a salary slip every month, but there is no system in place. I want to organize the system, can you please help me?
Regards,
Shubhada
Newage Fire Protection Engineers Pvt. Ltd. - Mumbai
Email: shubhada@newagefireprotection.com
From India, Mumbai
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Thanks for the valued information. One more help please. Can you please tell us how to calculate the following:
1) Basic - 50% of total
2) HRA - 50% of the basic
3) Medical allowance
4) Traveling allowance
5) Special allowance
6) Sodexo meal pass
7) Business attire
I am very confused about the above calculations in my organization. I have to provide a salary slip every month, but there is no system in place. I want to organize the system, can you please help me?
Regards,
Shubhada
Newage Fire Protection Engineers Pvt. Ltd. - Mumbai
Email: shubhada@newagefireprotection.com
From India, Mumbai
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Hi Shubhada,
Mr. Surendra has provided the correct calculation. Here's the concept: always keep the basic salary at 40-50% of the total salary. The HRA should be 40-50% of the basic salary. The transport allowance should be Rs. 800.00 per month, and the Medical allowance should be Rs. 1500.00 per month. The remaining amount can be allocated towards Special allowance, Sodexo, and any other allowances such as education allowance, furniture allowance, vehicle maintenance, etc.
Hope this information helps.
From India, Bangalore
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Mr. Surendra has provided the correct calculation. Here's the concept: always keep the basic salary at 40-50% of the total salary. The HRA should be 40-50% of the basic salary. The transport allowance should be Rs. 800.00 per month, and the Medical allowance should be Rs. 1500.00 per month. The remaining amount can be allocated towards Special allowance, Sodexo, and any other allowances such as education allowance, furniture allowance, vehicle maintenance, etc.
Hope this information helps.
From India, Bangalore
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I am new to HR and have a keen interest in learning HR aspects. I am very thankful to all seniors for providing guidelines and valuable suggestions. I have a doubt about PF contributions. PF amount is collected at 12% from the employee's basic salary and 13.61% from the employer's share. Out of the employer's share (i.e. 13.61%), 8.33% goes to the pension account, and 3.67% goes to the employee's account. What about the 1.61% that remains? Please explain, sir.
Regards,
Anjaneyulu
From India, Kakinada
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Regards,
Anjaneyulu
From India, Kakinada
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(Fact Checked)-The 1.61% from the employer's share of PF goes towards the Employees' Deposit Linked Insurance Scheme (EDLI). It provides life insurance to employees. Thank you for your eagerness to learn. (1 Acknowledge point)