How do we calculate BASIC when an organization does not give you the break up. Organization only mentions about the CTC and nothing else. So how do i arrive to a BAISC Pay. Are there any fixed percentages ?
Thanks
From India, Karimnagar
Thanks
From India, Karimnagar
chek this salary structure, which we are following.
Salary Head - CTC above 3.5 lakhs - below 3.5 lakhs
Basic 30% on CTC 26% on CTC
HRA 40% on Basic 40% on Basic
LTA 5% on CTC 10% on CTC
Conveyence Rs. 9600/- per year fixed
Medical Reimb Rs.15000/- per year fixed
Other Allowences Remaining in CTC
Regards,
Vijay
From India, Bangalore
Salary Head - CTC above 3.5 lakhs - below 3.5 lakhs
Basic 30% on CTC 26% on CTC
HRA 40% on Basic 40% on Basic
LTA 5% on CTC 10% on CTC
Conveyence Rs. 9600/- per year fixed
Medical Reimb Rs.15000/- per year fixed
Other Allowences Remaining in CTC
Regards,
Vijay
From India, Bangalore
Hello , Hey vijay you have not mention about the PF and check with your employer they want to include PF amount in ctc or not . from both the side or it is excluded . Thanks, Mehra
From India, Pune
7From India, Pune
Hello , Hey vijay you have not mention about the PF and check with your employer they want to include PF amount in ctc or not . from both the side or it is excluded . Thanks, Mehra :)
From India, Pune
From India, Pune
Hi Vijay, How did u arrive to a percentage of 30% for BASIC over CTC. I mean on what basis was 30% fixed. Do we have any section defined or is it by place or is it by comp. :-(
From India, Karimnagar
From India, Karimnagar
hi dear
when u wil get in hand salary add epf or esic contribution of employer if deduct
other wise u cant get simply
don,t try to calclt
cause company can add any thing like if the provide meal coupen
any type of telphone fixed bill any thing ok so ask ur gross salary
basic = 4000
hra = 1200
gross = 5200
emplr esic 4.75%= 247
empl epf 12% = 480
meal coupen = 300
fixed mobile rent = 299
emplr cntb of lunch = 250
net ctc = 6776
From India, Delhi
when u wil get in hand salary add epf or esic contribution of employer if deduct
other wise u cant get simply
don,t try to calclt
cause company can add any thing like if the provide meal coupen
any type of telphone fixed bill any thing ok so ask ur gross salary
basic = 4000
hra = 1200
gross = 5200
emplr esic 4.75%= 247
empl epf 12% = 480
meal coupen = 300
fixed mobile rent = 299
emplr cntb of lunch = 250
net ctc = 6776
From India, Delhi
Dear all Pl. give me salary break up in view of tax planning for gross salary of Rs.5.00 lacs p.a. I am free to manage my salary from employer.
From India, Delhi
From India, Delhi
Dear Mehra & Bhuchi,
Just i have given the brief discription about major heads in CTC.
Employee as weel as employer PF will be included in CTC.
in other allowences also, there are some reimbursments like pertol,entertainment,telephone,driver salary allowences will be shown the pay slip. (i.e for who is having CTC more than 3.5 lakhs)
Advise me if forgot anything!
thanks...
From India, Bangalore
Just i have given the brief discription about major heads in CTC.
Employee as weel as employer PF will be included in CTC.
in other allowences also, there are some reimbursments like pertol,entertainment,telephone,driver salary allowences will be shown the pay slip. (i.e for who is having CTC more than 3.5 lakhs)
Advise me if forgot anything!
thanks...
From India, Bangalore
hi
there are no hard and fast rules.
- normally the basic is determined at 30-40% (no law on this)
- remaning is divided among so many perks, as they are called
- in one company, abt 20 years back i have taken the complete salary as basic( starnge)
therae are some advantages and some disadvantages
Advantages
- PF is deducted on the entire amount
- leave salary is encashed on the entire amount
- bonus is on the entire salary
- LTA will be more if the same is given on bais salary
- some time HRA, CCA rtc will be ven on percentage basis of basic
- etc
the disadvantages are
- the entire salary will be calculaterd for income tax purposes
- your salary is known ro all
- etc
but if plan your savings and investments, you may get through income tax net
All said and done, normal practice is to keep the basic anywhere between 30 to 40 %
hope this will suffice
nagaraj
From India, Bangalore
there are no hard and fast rules.
- normally the basic is determined at 30-40% (no law on this)
- remaning is divided among so many perks, as they are called
- in one company, abt 20 years back i have taken the complete salary as basic( starnge)
therae are some advantages and some disadvantages
Advantages
- PF is deducted on the entire amount
- leave salary is encashed on the entire amount
- bonus is on the entire salary
- LTA will be more if the same is given on bais salary
- some time HRA, CCA rtc will be ven on percentage basis of basic
- etc
the disadvantages are
- the entire salary will be calculaterd for income tax purposes
- your salary is known ro all
- etc
but if plan your savings and investments, you may get through income tax net
All said and done, normal practice is to keep the basic anywhere between 30 to 40 %
hope this will suffice
nagaraj
From India, Bangalore
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