hi All, I found the salary byfurcation posted by Bijay is totally incorrect becoz there is no ESI deduction/contribution ,but as per rule upto Rs 15000 Gross Salary ESI is must .
From India, Jaipur
From India, Jaipur
hi sanjeev, the content was very useful to had a good discussion with finance manegement today..but a small correction- our finance team says conveyance allowance should be not more than 9600 and medical allowance is not more than 15000.please check it and confirm..
From India, Hyderabad
From India, Hyderabad
Yes Rajasekhar. I have already made required correction. Exempted Conveyance Allowance is 9,600/- INR Annum and Exempted Medical Allowance is 15,000/- INR Per Annum.
I hope this will help. Stay in touch.
From India, Mumbai
94I hope this will help. Stay in touch.
From India, Mumbai
#10 Report Violation Today, 10:33 AM Sanjeev.Himachali can you please tell if someone is paying professional tax from last 2 yrs...can that person be able to stop paying P.T in future??
From India, Mumbai
From India, Mumbai
Ankita, professional TAX is a state tax and it is based on your CTC. You cannot stop paying PT as per your wish.
From India, Mumbai
From India, Mumbai
Ok thanks actually in an interview a lady ask such question however I told her that its not possible to stop such tax so she gave me a weird look thats why i got confused..Nwaz thanks a lot
From India, Mumbai
From India, Mumbai
Conveyance Allowance can not be 2,400/- . INR. In this particular case it can only be 800/- INR and remaining 1,600/- INR should be shown as Other Allowance.
Kindly note that Conveyance Allowance of only 800/- INR PM (9,600/- INR Per annum) is exempted under Income Tax. Any other amount over and above 800/- INR under this head will be taxable. For example, in this case...only 800/- INR will be exempted under Income Tax and remaining 1,600/- will be taxable. The company might have decided to put 1,500/- INR under the head of Medical Allowance because then that amount will be exempted under Income Tax.
From India, Mumbai
Kindly note that Conveyance Allowance of only 800/- INR PM (9,600/- INR Per annum) is exempted under Income Tax. Any other amount over and above 800/- INR under this head will be taxable. For example, in this case...only 800/- INR will be exempted under Income Tax and remaining 1,600/- will be taxable. The company might have decided to put 1,500/- INR under the head of Medical Allowance because then that amount will be exempted under Income Tax.
From India, Mumbai
HI Sanjeev, You are right professional tax is State tax; it fluctuates state to state. But Maximum deduction for PT is Rs. 200-/month in metro cities. Not more than that.
From India, Gurgaon
From India, Gurgaon
Hi, This is Mrunalini working as HR Officer ...have a query.. is workmen compensation and personal accident caculate in CTC. Please reply at the earliest ___________ Thanks & Regards,
From India, Pune
From India, Pune
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CTC Breakup.xls
CTC - Breakup.JPG