Hi all,
I am giving me full salary break-up.Please let me know how much would i get take home monthly salary after tax-dedction.
Break-up Monthly
Basic 22500
HRA 11250
special allowance 6070
medical allowance# 1250
LTA# 1250
conveyance allowance 800
Co. contribution to PF 780
Travel allowance # 8333
Gross compensation 43900
# means payable as reimbursements
1. Please tell me my take home post tax salary.
2. Travel allowance v/s conveyance allowance
3. travel allowance of 8333(too large?....do i need bills for these to get reimbursements)
From India, Jaipur
I am giving me full salary break-up.Please let me know how much would i get take home monthly salary after tax-dedction.
Break-up Monthly
Basic 22500
HRA 11250
special allowance 6070
medical allowance# 1250
LTA# 1250
conveyance allowance 800
Co. contribution to PF 780
Travel allowance # 8333
Gross compensation 43900
# means payable as reimbursements
1. Please tell me my take home post tax salary.
2. Travel allowance v/s conveyance allowance
3. travel allowance of 8333(too large?....do i need bills for these to get reimbursements)
From India, Jaipur
Hi! Ankit
As you have said ur gross is 43900 that means travel allowance is not counted in your gross and after deduction of PF and tax u would get approx 38000 in your hand (if there are no other deductions)
Travel - For travelling outside the place where ur job is.
Conveyance - For local
And yes you have to submitted the bills for medical, travel and LTA incase you want to have exemption from taxes.
U can avail LTA twice in a year but if you dont then it would be counted as your income and tax can be deducted.
Hope i have helped you out.
From India, Mumbai
24As you have said ur gross is 43900 that means travel allowance is not counted in your gross and after deduction of PF and tax u would get approx 38000 in your hand (if there are no other deductions)
Travel - For travelling outside the place where ur job is.
Conveyance - For local
And yes you have to submitted the bills for medical, travel and LTA incase you want to have exemption from taxes.
U can avail LTA twice in a year but if you dont then it would be counted as your income and tax can be deducted.
Hope i have helped you out.
From India, Mumbai
Thanks a ton chitra but i have some more doubts....u said i wud get around 38000 after deduction of tax and PF. Does this 38000 also include the 8333 travel allowance. If i dont(or couldn't) submit the bills for travel aalowance, will i still get them?...if yes, then monthly basis or yearly basis?.....and how much PF would be deducted. What is the meaning of company's contribution to PF??.......Thanks in advance.
Ankit
From India, Jaipur
Ankit
From India, Jaipur
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.