Dear Sir, My gross salary is 23300, Basic is calculated 11880, HRA is 5940 and other is 5480, Just i want to know it is right calculated.
From India, Delhi
Acknowledge(0)
Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Dear Sanjay,
Yes, it is the correct calculation. Your basic is more than 50% of the gross, and your HRA is 50% of basic. Other components can be bifurcated into conveyance allowance, medical allowance, LTA, etc. for availing the exemption in Income tax. Since your basic is 11880/-, you will be a contributor to EPF as well. Salary bifurcation varies from company to company. Your Basic & HRA are correctly calculated. No doubt.
Thanks & Regards,
Devesh Chauhan
Practicing in Accounts, Finance, Taxation, Labour Laws
From India, Basti
Acknowledge(0)Amend(0)
18Yes, it is the correct calculation. Your basic is more than 50% of the gross, and your HRA is 50% of basic. Other components can be bifurcated into conveyance allowance, medical allowance, LTA, etc. for availing the exemption in Income tax. Since your basic is 11880/-, you will be a contributor to EPF as well. Salary bifurcation varies from company to company. Your Basic & HRA are correctly calculated. No doubt.
Thanks & Regards,
Devesh Chauhan
Practicing in Accounts, Finance, Taxation, Labour Laws
From India, Basti
Acknowledge(0)Amend(0)
Sanjay,
Bifurcation of gross wages and CTC into its components is a function HR of your company will do. It is entirely up to them to put what they want in the breakup. There is no fixed structure or norms. If they decide to put 100% in basic, even then you can't do anything.
From India, Mumbai
Acknowledge(0)Amend(0)
Bifurcation of gross wages and CTC into its components is a function HR of your company will do. It is entirely up to them to put what they want in the breakup. There is no fixed structure or norms. If they decide to put 100% in basic, even then you can't do anything.
From India, Mumbai
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.