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Thanks Amit, Here is my contibution... I felt the slips need to be neatly done... hope my format looks good
From India, Mumbai
From India, Mumbai
Hello!
Usually the bifurcations are done in following manner:
Basic Salary : 40% of Gross salary (maximum limit is 40% of Gross Salary)
House Rent Allowance : 20% of Gross salary (must be 50% of basic salary)
City Compensatory Allowance : 20% of Gross salary
Conveyance Allowance : 10% of Gross salary
Medical Allowance : 5% of Gross salary
Other Allowances : 5% of Gross salary
Total : 100%
Exemption for I-Tax:
HRA
Conveyance
In case if you Co prefers medial reimbursements instead of medical allowances, medical reimbursements up to Rs. 12,500 is non taxable only against submition of bills.
Hope this is what you are looking for and it will help you to clear the doubt.
Pallavi R
From India, Mumbai
Usually the bifurcations are done in following manner:
Basic Salary : 40% of Gross salary (maximum limit is 40% of Gross Salary)
House Rent Allowance : 20% of Gross salary (must be 50% of basic salary)
City Compensatory Allowance : 20% of Gross salary
Conveyance Allowance : 10% of Gross salary
Medical Allowance : 5% of Gross salary
Other Allowances : 5% of Gross salary
Total : 100%
Exemption for I-Tax:
HRA
Conveyance
In case if you Co prefers medial reimbursements instead of medical allowances, medical reimbursements up to Rs. 12,500 is non taxable only against submition of bills.
Hope this is what you are looking for and it will help you to clear the doubt.
Pallavi R
From India, Mumbai
Can anyone post a salary slip where the working days are 30 but paid days are 25 ( employee is absent for 5 days). How can i show the deductions. Can i show it directly on the deductions side or i have to cut it from the earnings structure ???
Please help,
Thank you.
From India, Mumbai
Please help,
Thank you.
From India, Mumbai
Al the payslips are help full but I stay in South Africa and we don't substract all the taxes and stuff like you do. Is there anyone in South Africa that can help me find a payslip that works with exel.
Please HELP
From South Africa, Johannesburg
Please HELP
From South Africa, Johannesburg
Hi,
The HRA and Basic pay are connected for HRA Computation as explained below:
eg. your basic pay is Rs. 6000, HRA is Rs. 3000 and monthly rent paid by you @ Rs.2500/-. The HRA computation is worked out as follows:
HRA Computation
i) HRA received 36,000 ii) Rent paid 2500*12 30,000 ii) Rent paid Less 1/10 of salary 7,200 -------------- 22,800 iii) 2/5 of salary 28,800 Least of (i), (ii), (iii) is exempt 22,800
Regards,
Saraswathi
From India, Bangalore
The HRA and Basic pay are connected for HRA Computation as explained below:
eg. your basic pay is Rs. 6000, HRA is Rs. 3000 and monthly rent paid by you @ Rs.2500/-. The HRA computation is worked out as follows:
HRA Computation
i) HRA received 36,000 ii) Rent paid 2500*12 30,000 ii) Rent paid Less 1/10 of salary 7,200 -------------- 22,800 iii) 2/5 of salary 28,800 Least of (i), (ii), (iii) is exempt 22,800
Regards,
Saraswathi
From India, Bangalore
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Pay Slip Format.doc