Hii Everybody, Can you pls tell me what would be the CTC breakup for salary Rs. 83000/-. and how would Tax will be dedcted from this net salary? please help . Regards Supriya
From India, Mumbai
26From India, Mumbai
I hope this helps you understand the solution to your problem.
Please note that, the tax liability will also be calculated by deducting the HRA to the eligible limit and the medical bills depending on case to case basis.
Again if the person fails to invest under Section 80C (cap limit of 1 lac) the deducted 1 lac should not be deducted and whole income is to be taxed.
Also if the person has small income from other means which he asks your firm to adjust, same is to be adjusted. I believe this will depend on the company policy.
Hope this helped.
From India, Mumbai
Please note that, the tax liability will also be calculated by deducting the HRA to the eligible limit and the medical bills depending on case to case basis.
Again if the person fails to invest under Section 80C (cap limit of 1 lac) the deducted 1 lac should not be deducted and whole income is to be taxed.
Also if the person has small income from other means which he asks your firm to adjust, same is to be adjusted. I believe this will depend on the company policy.
Hope this helped.
From India, Mumbai
Ankita,
pf 6000 worked out not getting . Can u please make me understand?
Supriya,
shifting chunk of income to reimbursements cuts annual ta good amount.
Higher basic salary increases the contribution towards pf.
Junking bonus/ company bonus other then statutory, helps increase the net salary, home.
From India, Ahmadabad
pf 6000 worked out not getting . Can u please make me understand?
Supriya,
shifting chunk of income to reimbursements cuts annual ta good amount.
Higher basic salary increases the contribution towards pf.
Junking bonus/ company bonus other then statutory, helps increase the net salary, home.
From India, Ahmadabad
Hello Bharadwaj,
Since the basic > 6000, and assuming that the employee is covered under PF act (which states that if an employee is once covered under PF act, he continues to be covered under it, even if his salary rises above 6000. In such cases, both parties are to atleast contribute 12% on the upper limit of 6000)
Hence, I am contributing PF of 780 pm on both ends to PF account.
I hope i clarified your doubt.
From India, Mumbai
Since the basic > 6000, and assuming that the employee is covered under PF act (which states that if an employee is once covered under PF act, he continues to be covered under it, even if his salary rises above 6000. In such cases, both parties are to atleast contribute 12% on the upper limit of 6000)
Hence, I am contributing PF of 780 pm on both ends to PF account.
I hope i clarified your doubt.
From India, Mumbai
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