Dear All, How to calculate Basic Pay, DA, HRA, Conveyance & Other Allowances from Gross Salary of Rs.20,000/-. I want know the correct formulas. Kindly do the needful. Regards Murugesh
From India, Madras
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25From India, Madras
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Hi Shrimin,
I also need the same format for the calculation of Basic, PF, Conveyance, payslip, etc. And I need the structure/policy if you have regarding conveyance and meal claims of marketing employees who are in the field. Please help.
Shrimin
From India, Delhi
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I also need the same format for the calculation of Basic, PF, Conveyance, payslip, etc. And I need the structure/policy if you have regarding conveyance and meal claims of marketing employees who are in the field. Please help.
Shrimin
From India, Delhi
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hi all, Pls tell me procedures for filling up & how to submit of PF, ESI, Prof . Tax forms. regards, Shivakanth
From India, Hyderabad
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From India, Hyderabad
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Dear,
Please note, there is no single formula to arrive at Salary Breakup and there are different formulas followed by different organizations, as per their own thinking and convenience. While deciding salary structure one has to remember following points
Also search for previous posts on same subject. There is lot of material already available on citehr.
Thanks & Regards
From India, Pune
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Please note, there is no single formula to arrive at Salary Breakup and there are different formulas followed by different organizations, as per their own thinking and convenience. While deciding salary structure one has to remember following points
- Most of the statutory liabilities like PF, Gratuity, and Bonus etc. are percentages of Basic plus DA. Hence any rise in Basic or DA will increase statutory liabilities
- It is not necessary to have DA in Salary Structure. For that matter none of the items are compulsory or must.
- Income Tax treats some salary items (HRA, Conveyance) differently for the purpose of calculation of Income Tax liability. Hence organizations decide the breakup considering legal provisions to minimize tax liability.
- Some organizations keep some or all items of salary structure as percentage of Basic Pay. Whenever there is increase in Basic Pay, other items also increase automatically.
- Some organizations keep some or all items of salary structure as fixed allowances. In this case allowances remain uniform in respect of all employees. These allowances won’t change unless specific rise is given in those allowances.
- Some organizations divide entire gross salary into fix percentages to arrive at breakup of salary structure. In this case only percentages are uniform but allowances of individual will be different.
Also search for previous posts on same subject. There is lot of material already available on citehr.
Thanks & Regards
From India, Pune
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Dear All, Hope the attachment will help you out with Salary calculation and break up!!
From India, Pune
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From India, Pune
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Dear All,
I have newly been appointed as an HR Manager in an educational institute. The total number of employees is 60, but employees drawing a salary less than 6500 per month are only 5. I would like to know if the institute is covered under the EPF and ESIC Acts or not.
Thanks & Regards
From India, Delhi
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I have newly been appointed as an HR Manager in an educational institute. The total number of employees is 60, but employees drawing a salary less than 6500 per month are only 5. I would like to know if the institute is covered under the EPF and ESIC Acts or not.
Thanks & Regards
From India, Delhi
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I Thinks the percentages in the attachment are not that much satisfying. CCA Should be not more than Rs.800/- TA should be not more than Rs.1200/- Thanks Sekhar
From India, Hyderabad
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From India, Hyderabad
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Dear Mr. Murgesh,
Kindly calculate the following components in the CTC:
- 30% basic
- 40% HRA in the Basic
- TA deduction (approximately $800/month)
- PF: 12% of Basic
- Bonus: 10% Basic
(I think he/she is not subject to ESIC deductions).
Medclaim will be as per the company's agreement with the insurance company. Any remaining balance amount should be included in special pay.
Regards,
Srinivasulu.R
From India, Madras
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Kindly calculate the following components in the CTC:
- 30% basic
- 40% HRA in the Basic
- TA deduction (approximately $800/month)
- PF: 12% of Basic
- Bonus: 10% Basic
(I think he/she is not subject to ESIC deductions).
Medclaim will be as per the company's agreement with the insurance company. Any remaining balance amount should be included in special pay.
Regards,
Srinivasulu.R
From India, Madras
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(Fact Checked)-The institute with 60 employees and only 5 earning less than Rs. 6500/month is covered under both E.P.F. and E.S.I.C. ACT. (1 Acknowledge point)