Hi all,
I am new to the site. Let me introduce myself. I am Avanee from Abad and am working as an HR Executive in an IT Company. I am pursuing my PGDBA (HR) from SCDL. That's it.
I need to know all the possible parts of salary breakup and their formulas. I have to help a project team for some project. I would appreciate early replies.
Thanks in advance.
Regards,
Avanee
From Australia
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I am new to the site. Let me introduce myself. I am Avanee from Abad and am working as an HR Executive in an IT Company. I am pursuing my PGDBA (HR) from SCDL. That's it.
I need to know all the possible parts of salary breakup and their formulas. I have to help a project team for some project. I would appreciate early replies.
Thanks in advance.
Regards,
Avanee
From Australia
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Hi Avanee,
The salary breakups are:
- Basic: 50% of gross
- HRA: 40% of basic
- CCA, Food Allowances, Newspaper, Books & Periodicals, Transport Allowances, Petrol Allowances: As per company policy
- Medical Reimbursement: 1250
- Child Education: 100 Rs
- Telephone Expenses: 750
- PF: 12% of Basic
- ESI: 1.75% of gross (Employee) & 4.75% (Employer)
Regards,
Chitra
From India, Mumbai
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24The salary breakups are:
- Basic: 50% of gross
- HRA: 40% of basic
- CCA, Food Allowances, Newspaper, Books & Periodicals, Transport Allowances, Petrol Allowances: As per company policy
- Medical Reimbursement: 1250
- Child Education: 100 Rs
- Telephone Expenses: 750
- PF: 12% of Basic
- ESI: 1.75% of gross (Employee) & 4.75% (Employer)
Regards,
Chitra
From India, Mumbai
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Hi,I am Lavanya.I am working in a Software company which is started recently.Please tell me the exact breakup for 18000 salary
From India, Hyderabad
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From India, Hyderabad
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hai, I am sudhan, working as executive in a construction company and I am doing M.B.A in H.R basically I am a law graduate. send me details about my future scope in the field of H.R
From India, Madras
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From India, Madras
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You can consider the following breakdown for the above-mentioned CTC:
CTC - 18000
Basic = 7200/- (40% of CTC)
HRA = 3600/- (50% of Basic)
Conveyance - 800/-
Medical Reimbursement - 1250/-
Other Allowance - 3270/-
Deductions
Provident Fund (Employee Contribution) = 864/-
Provident Fund (Employer Contribution) = 864/-
PT - 150/- (As per Andhra Pradesh state)
Gross = 17134/-
Net Amount - 16120/-
From India, New Delhi
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CTC - 18000
Basic = 7200/- (40% of CTC)
HRA = 3600/- (50% of Basic)
Conveyance - 800/-
Medical Reimbursement - 1250/-
Other Allowance - 3270/-
Deductions
Provident Fund (Employee Contribution) = 864/-
Provident Fund (Employer Contribution) = 864/-
PT - 150/- (As per Andhra Pradesh state)
Gross = 17134/-
Net Amount - 16120/-
From India, New Delhi
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Basic - No fixed formula or rule (can be any amount, preferably more than the current). PF 12% of Basic. HRA - Maximum 40% Tax Exempted in Non-Metro, 50% in Metro. A minimum of 5% of Basic is a must as per the HRA Act. Transportation Tax Exemption Limit - Maximum Rs 800 per month. Child Education - Rs 200 per month Tax Exempt. Uniform Washing - Rs 250 per month Tax Exempt. Child Hostel - Rs 600 per month Tax Exempt. LTA - One Basic Annual Taxable once in two years. Medical - Rs 15,000 Annual Tax Exempted. Uniform Allowance - Rs 10,000 Tax Exempted. Bonus or Ex Gratia - 16.67% of Earned Annual Basic. I believe these components are sufficient to define the best possible Tax relief Salary Structure. Thanks & Regards, Prabhakar Srivastava Executive HR Videocon Industries Ltd Aurangabad 
From India, Aurangabad
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From India, Aurangabad
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Basic - No fixed formula or rule (can be any amount, preferably more than current).
- PF: 12% of Basic
- HRA: Max 40% Tax Exempted in NON-Metro, 50% in Metro. Minimum 5% of Basic is a must as per HRA ACT.
- Transportation: Tax Exempt Limit Max Rs 800 PM.
- Child Education: 200 PM Tax Exempt.
- Uniform Washing: 250 PM Tax Exempt.
- Child Hostel: 600 PM Tax Exempt.
- LTA: One Basic Annual Taxable Once in Two Yrs.
- Medical: Rs 15,000 Annual Tax Exempted.
- Uniform Allowance: Rs 10,000 Tax Exempted.
- Bonus or Ex Gratia: % of Earned Annual Basic.
I believe these are sufficient components to define the best possible Tax relief Salary Structure.
Thanks & Regards,
Prabhakar Srivastava
Executive HR
Videocon Industries Ltd
Aurangabad
[IMG]https://www.citehr.com/misc.php?do=email_dev&email=UHJhYmhha2FyLn NyaWhyQGdtYWlsLmNvbQ==[/IMG]
From India, Aurangabad
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- PF: 12% of Basic
- HRA: Max 40% Tax Exempted in NON-Metro, 50% in Metro. Minimum 5% of Basic is a must as per HRA ACT.
- Transportation: Tax Exempt Limit Max Rs 800 PM.
- Child Education: 200 PM Tax Exempt.
- Uniform Washing: 250 PM Tax Exempt.
- Child Hostel: 600 PM Tax Exempt.
- LTA: One Basic Annual Taxable Once in Two Yrs.
- Medical: Rs 15,000 Annual Tax Exempted.
- Uniform Allowance: Rs 10,000 Tax Exempted.
- Bonus or Ex Gratia: % of Earned Annual Basic.
I believe these are sufficient components to define the best possible Tax relief Salary Structure.
Thanks & Regards,
Prabhakar Srivastava
Executive HR
Videocon Industries Ltd
Aurangabad
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From India, Aurangabad
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Hi, Prathima and chitra u have made different statements regarding basic n HRA ....so whose percentage is to be considered? Please let me know. Thanks & regards, Avanee
From Australia
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From Australia
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There is no particular rule for calculating the percentage of Basic. I have calculated 40% as Basic, and she has gone with 50%. You can consider either of them, no issues. However, HRA is mostly considered 50% of Basic.
From India, New Delhi
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From India, New Delhi
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Dear all,
Please let me understand the mandatory and optional components for a salary breakup. How can I identify the take-home components for tax benefits? Which components are monthly take-home and which are annual/bi-annual take-home components (such as LTA, etc.)? Additionally, which are reimbursement benefits like telephone bills, house rent, loans, recoveries, car loans, car maintenance, etc.?
Please help me understand this puzzle of dots, squares, circles, and rectangles.
Thanks & Regards,
Kishore
From India, Hyderabad
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Please let me understand the mandatory and optional components for a salary breakup. How can I identify the take-home components for tax benefits? Which components are monthly take-home and which are annual/bi-annual take-home components (such as LTA, etc.)? Additionally, which are reimbursement benefits like telephone bills, house rent, loans, recoveries, car loans, car maintenance, etc.?
Please help me understand this puzzle of dots, squares, circles, and rectangles.
Thanks & Regards,
Kishore
From India, Hyderabad
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Dear Lavanya,
This is Raja R., and I am working as an HR Executive in a CMMI Level Company. Could you please provide me with the name and location of your company? I hope the following breakdown will assist you in creating a salary structure for 18,000:
Earnings:
Basic (50% of Gross): 9,000
HRA (40% of Basic): 3,600
Conveyance: 800
Special Allowance: 2,570 (Basic + HRA + PF Employer + Medical) - Gross
Medical: 1,250
PF Employer: 780
Deductions:
Pf Employer: 780 max
PF Employee: 1,080 (12% of Basic)
PT: 150
Note: Leave travel allowance pay is based on company policy. Variable Compensation is 5% of Gross.
Best Regards,
Raja
HR Executive
From India
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This is Raja R., and I am working as an HR Executive in a CMMI Level Company. Could you please provide me with the name and location of your company? I hope the following breakdown will assist you in creating a salary structure for 18,000:
Earnings:
Basic (50% of Gross): 9,000
HRA (40% of Basic): 3,600
Conveyance: 800
Special Allowance: 2,570 (Basic + HRA + PF Employer + Medical) - Gross
Medical: 1,250
PF Employer: 780
Deductions:
Pf Employer: 780 max
PF Employee: 1,080 (12% of Basic)
PT: 150
Note: Leave travel allowance pay is based on company policy. Variable Compensation is 5% of Gross.
Best Regards,
Raja
HR Executive
From India
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