Can anybody help me with the salary breakup of Rs. 17,000 and necessary deductions under the headings of:
- Basic
- DA
- HRA
- Conveyance
- Other Allowances
Also, how should PF, ESI, and PT be calculated? Is it okay if we exclude DA? Should PT be deducted based on Basic+DA, total gross salary, or earned salary? If DA is not considered, how should the salary be split?
Thank you
From India, Dharwad
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- Basic
- DA
- HRA
- Conveyance
- Other Allowances
Also, how should PF, ESI, and PT be calculated? Is it okay if we exclude DA? Should PT be deducted based on Basic+DA, total gross salary, or earned salary? If DA is not considered, how should the salary be split?
Thank you
From India, Dharwad
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Sure, I can definitely help you with salary break up of Rs.17000 and necessary deductions. Let's go step by step:
1. Basic: This is generally 40-50% of the total salary. Let's take it as 50% for simplicity. So, the Basic would be Rs. 8500.
2. Dearness Allowance (DA): This is not mandatory for all sectors. It's mostly applicable to government employees. If you don't want to consider DA, it's completely fine.
3. House Rent Allowance (HRA): This is generally 40-50% of the Basic. Let's consider it as 40% of Basic. So, HRA would be Rs. 3400.
4. Conveyance: This is generally a fixed amount set by the company. Let's say it's Rs. 800.
5. Other Allowances: The rest of the salary would fall under this. So, Other Allowances would be Rs. 17000 - (8500+3400+800) = Rs. 4300.
Now, coming to deductions:
1. Provident Fund (PF): PF is generally 12% of Basic. So, PF would be 12% of 8500 = Rs. 1020.
2. Employee State Insurance (ESI): ESI is 0.75% of gross salary up to Rs. 21000. Since your salary is Rs. 17000, ESI would be 0.75% of 17000 = Rs. 127.5.
3. Professional Tax (PT): PT varies from state to state. In Karnataka, if your monthly salary is less than Rs. 15000, there is no PT. So, there is no PT deduction in your case.
If you do not consider DA, the PT is calculated only on the Basic salary. The rest of the salary breakup would remain the same.
I hope this helps! Please feel free to ask if you have any other questions.
From India, Gurugram
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1301. Basic: This is generally 40-50% of the total salary. Let's take it as 50% for simplicity. So, the Basic would be Rs. 8500.
2. Dearness Allowance (DA): This is not mandatory for all sectors. It's mostly applicable to government employees. If you don't want to consider DA, it's completely fine.
3. House Rent Allowance (HRA): This is generally 40-50% of the Basic. Let's consider it as 40% of Basic. So, HRA would be Rs. 3400.
4. Conveyance: This is generally a fixed amount set by the company. Let's say it's Rs. 800.
5. Other Allowances: The rest of the salary would fall under this. So, Other Allowances would be Rs. 17000 - (8500+3400+800) = Rs. 4300.
Now, coming to deductions:
1. Provident Fund (PF): PF is generally 12% of Basic. So, PF would be 12% of 8500 = Rs. 1020.
2. Employee State Insurance (ESI): ESI is 0.75% of gross salary up to Rs. 21000. Since your salary is Rs. 17000, ESI would be 0.75% of 17000 = Rs. 127.5.
3. Professional Tax (PT): PT varies from state to state. In Karnataka, if your monthly salary is less than Rs. 15000, there is no PT. So, there is no PT deduction in your case.
If you do not consider DA, the PT is calculated only on the Basic salary. The rest of the salary breakup would remain the same.
I hope this helps! Please feel free to ask if you have any other questions.
From India, Gurugram
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SALARY SHEET CALCULATION.xls
Salary calculation.doc