how to calculate monthly salary from ctc? e.g. Basic %? HRA %? DA%? Sp. Allow %? Pt ? Pf %? ESIC %? Pension %? Gratuty%? etc
From India, Vasai
From India, Vasai
How to calculate monthly salary from CTC?
For example:
Basic - Generally, it is 40% of CTC.
HRA - Minimum 5% HRA as per the Act in Maharashtra and a maximum of 40/50% as per the IT Act.
DA% - As per government notification if the employee is covered under the Minimum Wages Act.
Special Allowance % - As per government notification if the employee is covered under the Minimum Wages Act. Generally, DA and Special Allowance are used interchangeably.
PT - 200 per month and 2500 for April to March in Maharashtra.
PF % - 12.7%.
ESIC % - 4.75%.
Pension % - Already covered under PF.
Gratuity % - 4.8% of Basic, etc.
From India, Pune
For example:
Basic - Generally, it is 40% of CTC.
HRA - Minimum 5% HRA as per the Act in Maharashtra and a maximum of 40/50% as per the IT Act.
DA% - As per government notification if the employee is covered under the Minimum Wages Act.
Special Allowance % - As per government notification if the employee is covered under the Minimum Wages Act. Generally, DA and Special Allowance are used interchangeably.
PT - 200 per month and 2500 for April to March in Maharashtra.
PF % - 12.7%.
ESIC % - 4.75%.
Pension % - Already covered under PF.
Gratuity % - 4.8% of Basic, etc.
From India, Pune
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