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Thanks friends.....
we have got to se more than one salary slip....
now we have a fair idea of that...
but i wanted to know are HRA and other parts depend on the basic pay? how are they related?
--NIRANJAN RAI
From India, Calcutta
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we have got to se more than one salary slip....
now we have a fair idea of that...
but i wanted to know are HRA and other parts depend on the basic pay? how are they related?
--NIRANJAN RAI
From India, Calcutta
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Checked)-The House Rent Allowance (HRA) and other components of a salary are typically calculated based on the employee's basic pay. The relationship between these components and basic pay helps determine the overall salary structure. (1 Acknowledge point)
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Thanks Amit, Here is my contibution... I felt the slips need to be neatly done... hope my format looks good
From India, Mumbai
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From India, Mumbai
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Hello!
Usually the bifurcations are done in following manner:
Basic Salary : 40% of Gross salary (maximum limit is 40% of Gross Salary)
House Rent Allowance : 20% of Gross salary (must be 50% of basic salary)
City Compensatory Allowance : 20% of Gross salary
Conveyance Allowance : 10% of Gross salary
Medical Allowance : 5% of Gross salary
Other Allowances : 5% of Gross salary
Total : 100%
Exemption for I-Tax:
HRA
Conveyance
In case if you Co prefers medial reimbursements instead of medical allowances, medical reimbursements up to Rs. 12,500 is non taxable only against submition of bills.
Hope this is what you are looking for and it will help you to clear the doubt.
Pallavi R
From India, Mumbai
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Usually the bifurcations are done in following manner:
Basic Salary : 40% of Gross salary (maximum limit is 40% of Gross Salary)
House Rent Allowance : 20% of Gross salary (must be 50% of basic salary)
City Compensatory Allowance : 20% of Gross salary
Conveyance Allowance : 10% of Gross salary
Medical Allowance : 5% of Gross salary
Other Allowances : 5% of Gross salary
Total : 100%
Exemption for I-Tax:
HRA
Conveyance
In case if you Co prefers medial reimbursements instead of medical allowances, medical reimbursements up to Rs. 12,500 is non taxable only against submition of bills.
Hope this is what you are looking for and it will help you to clear the doubt.
Pallavi R
From India, Mumbai
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Dear Friends i am attached salary slip hope it is usefull to you manish
From India, Delhi
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From India, Delhi
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Can anyone post a salary slip where the working days are 30 but paid days are 25 (employee is absent for 5 days)? How can I show the deductions? Can I show it directly on the deductions side, or do I have to deduct it from the earnings structure?
Please help.
Thank you.
From India, Mumbai
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Please help.
Thank you.
From India, Mumbai
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(Fact Checked)-The deductions for the absent days should be reflected under deductions, not deducted from the earnings directly. It's important to show all elements separately for transparency. Thank you. (1 Acknowledge point)
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All the payslips are helpful, but I stay in South Africa, and we don't subtract all the taxes and stuff like you do. Is there anyone in South Africa that can help me find a payslip that works with Excel.
Please HELP
From South Africa, Johannesburg
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Please HELP
From South Africa, Johannesburg
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Hi,
The HRA and Basic pay are connected for HRA computation as explained below:
For example, if your basic pay is Rs. 6000, HRA is Rs. 3000, and monthly rent paid by you is Rs. 2500. The HRA computation is worked out as follows:
HRA Computation
i) HRA received: Rs. 36,000
ii) Rent paid (Rs. 2500 * 12): Rs. 30,000
iii) Rent paid (Less 1/10 of salary): Rs. 7,200
--------------------------------
Total: Rs. 22,800
iv) 2/5 of salary: Rs. 28,800
Least of (i), (ii), (iii) is exempt: Rs. 22,800
Regards,
Saraswathi
From India, Bangalore
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The HRA and Basic pay are connected for HRA computation as explained below:
For example, if your basic pay is Rs. 6000, HRA is Rs. 3000, and monthly rent paid by you is Rs. 2500. The HRA computation is worked out as follows:
HRA Computation
i) HRA received: Rs. 36,000
ii) Rent paid (Rs. 2500 * 12): Rs. 30,000
iii) Rent paid (Less 1/10 of salary): Rs. 7,200
--------------------------------
Total: Rs. 22,800
iv) 2/5 of salary: Rs. 28,800
Least of (i), (ii), (iii) is exempt: Rs. 22,800
Regards,
Saraswathi
From India, Bangalore
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CiteHR.AI
(Fact Checked)-This is a friendly reminder to always attach the format of the pay slip/salary slip when requested. (1 Acknowledge point)