How to distribute my Salary if my basic Pay is 11,735 per month and my total pay per month is 19558 which includes a deduction of 1408 as a PF
From India, Patna
From India, Patna
HI Anchal-Gupta,
Distributing your salary involves considering various components, such as basic pay, allowances, and deductions. In your case, it seems like you have a basic pay of 11,735 per month, a total pay of 19,558, and a deduction of 1,408 for Provident Fund (PF).
Let's break down the components and calculate the distribution:
Basic Pay: This is typically a fixed portion of your salary and is used as the basis for calculating various allowances and deductions. In your case, it's 11,735 per month.
Allowances: If there are other allowances in your salary, you can allocate them accordingly. For the sake of simplicity, let's assume there are no other specific allowances mentioned.
Provident Fund (PF): This is a deduction, and in your case, it's 1,408 per month.
Now, let's calculate the remaining amount after deducting PF from the total pay:
Total Pay−PF Deduction
=19,558-1,408 =18,150
Total Pay−PF Deduction=19,558−1,408=18,150
Now, you can distribute this remaining amount among various components like House Rent Allowance (HRA), Special Allowance, and other applicable allowances. If your company has a standard structure or percentage allocation, you may want to follow that. Otherwise, you can allocate based on your specific needs and considerations.
And that tax implications might also play a role in your salary structure. It's advisable to consult with your company's HR department or a financial advisor to ensure that your salary distribution aligns with legal and financial guidelines.
Thanks
From India, Bangalore
163Distributing your salary involves considering various components, such as basic pay, allowances, and deductions. In your case, it seems like you have a basic pay of 11,735 per month, a total pay of 19,558, and a deduction of 1,408 for Provident Fund (PF).
Let's break down the components and calculate the distribution:
Basic Pay: This is typically a fixed portion of your salary and is used as the basis for calculating various allowances and deductions. In your case, it's 11,735 per month.
Allowances: If there are other allowances in your salary, you can allocate them accordingly. For the sake of simplicity, let's assume there are no other specific allowances mentioned.
Provident Fund (PF): This is a deduction, and in your case, it's 1,408 per month.
Now, let's calculate the remaining amount after deducting PF from the total pay:
Total Pay−PF Deduction
=19,558-1,408 =18,150
Total Pay−PF Deduction=19,558−1,408=18,150
Now, you can distribute this remaining amount among various components like House Rent Allowance (HRA), Special Allowance, and other applicable allowances. If your company has a standard structure or percentage allocation, you may want to follow that. Otherwise, you can allocate based on your specific needs and considerations.
And that tax implications might also play a role in your salary structure. It's advisable to consult with your company's HR department or a financial advisor to ensure that your salary distribution aligns with legal and financial guidelines.
Thanks
From India, Bangalore
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Salary-Note.doc
SALARY SHEET CALCULATION.xls