hai pls find the attachment of Salary Matrix just entered CTC pa it will give the details of break ups. with cheers Pawan Krishna
From India, Hyderabad
1From India, Hyderabad
Hi all,
Often I see that many are following the pattern of Rs.800/- for conveyance and Rs.1500/- for medi. This is good for IT exemption. But there are employees who feel that much of PF deduction need not be done for various reasons.
For such cases I devised like basic-40%, HRA-30%, conveyance-10%,Spl allwn-10%,others-10%.
Now a days, what do we get for 800?-. Just 800/- for conveyance in a Metro is ridiculous and needs correction from the Fin Ministry. So it is not that always it has to be 800/- so the employer can pay more than that also but tax exemption limiting to 800/-. Thatz it. Always see to that basic is 40% to 60%, HRA- 30% to 50%, Convy, Medi, Others can be split accordingly to your choice.
So for those getting a taxable income after allowing deductions, they should necessarily go for savings u/S 80 series.
In the forum, someone asked if PF has to be deducted during maternity leave. Yes it has to be. Since Basic is paid for 3 months (12 wks), PF has to be deducted taking it as contribution days.
I am Manager -HR in a Chennai BPO company.
Regards,
Chandru
From India, Madras
Often I see that many are following the pattern of Rs.800/- for conveyance and Rs.1500/- for medi. This is good for IT exemption. But there are employees who feel that much of PF deduction need not be done for various reasons.
For such cases I devised like basic-40%, HRA-30%, conveyance-10%,Spl allwn-10%,others-10%.
Now a days, what do we get for 800?-. Just 800/- for conveyance in a Metro is ridiculous and needs correction from the Fin Ministry. So it is not that always it has to be 800/- so the employer can pay more than that also but tax exemption limiting to 800/-. Thatz it. Always see to that basic is 40% to 60%, HRA- 30% to 50%, Convy, Medi, Others can be split accordingly to your choice.
So for those getting a taxable income after allowing deductions, they should necessarily go for savings u/S 80 series.
In the forum, someone asked if PF has to be deducted during maternity leave. Yes it has to be. Since Basic is paid for 3 months (12 wks), PF has to be deducted taking it as contribution days.
I am Manager -HR in a Chennai BPO company.
Regards,
Chandru
From India, Madras
Regarding the Prof Tax, the tax is paid by the company to that corporation within which the business is done. P-tax constitutes of Ee share prescribed by every corporation a Gross of 6 mths. So we deduct the prof-tax from the employees every month. some deduct once in 6 months. Paid in Apr/Sep
It also has a Company tax component. This is also laid by the Corporation. For those companies with pre-paid capital of >10 lakhas, the C-tax is 1000/- half yearly. Padi in Apr/Sep.
Labour Welfare Fund goes to the State Labour dept. A monthly periodical will also be sent to us.
I am manager-HR in a BPO , chennai.
Regards,
Chandru
From India, Madras
It also has a Company tax component. This is also laid by the Corporation. For those companies with pre-paid capital of >10 lakhas, the C-tax is 1000/- half yearly. Padi in Apr/Sep.
Labour Welfare Fund goes to the State Labour dept. A monthly periodical will also be sent to us.
I am manager-HR in a BPO , chennai.
Regards,
Chandru
From India, Madras
The fixed salary heads in our company is more than required. I want to reduce it to five or six heads and make LTA and Medical reimbursement part of annual package. Pls help formulate
From India, Mumbai
From India, Mumbai
Dear All,
any one can help me plz.....
i am working in a private concern in pondicherry, my gross salay is Rs.7900/- could u plz give me that what should be my salary break up detail with percentage from top to bottom (i.e)
Basic
HRA
Conveyance
Ollowance
Gross
PF (Employee's)
ESI (Employee's)
Professional Tax
Other deductions if any
Net salary
PF (Employer's)
ESI (Employer's)
Gratuty
CTC.
From India
any one can help me plz.....
i am working in a private concern in pondicherry, my gross salay is Rs.7900/- could u plz give me that what should be my salary break up detail with percentage from top to bottom (i.e)
Basic
HRA
Conveyance
Ollowance
Gross
PF (Employee's)
ESI (Employee's)
Professional Tax
Other deductions if any
Net salary
PF (Employer's)
ESI (Employer's)
Gratuty
CTC.
From India
Dear Amit, Please help me........... for a Salary breakup...... CTC is Rs.7,00,000/= What would the best breakup to get maximum amount after all the deductions. Thanks and Regards Ram
From India, Hyderabad
From India, Hyderabad
Dear Mr. Ram,
The break-up would be prepared in two parts.. one would be fixed and other in terms of reimbursement, which shall be paid after producing the supporting documents, moreover 2nd part would help you in Tax exemption up to a certain limit..
Basic 18000 HRA 9000 CCA 800 Education 500 Special Allowance 5000 Total 33300
Reimbursement Components -
Medical Reimbursement 1250 Books & Periodicals 2000 Petrol 5000 Entertainment 2000 Driver 4000 Car Maintenance 1500 Phone 3000 Business Development 3000 Meal Vouchers 1000
Total 22750
Gross PM 56050 Gross PA 672600 Gratuity 10476 LTA 18000 CTC 701076
Hope it must help you to structure the same..
Regards,
Amit Seth.
From India, Ahmadabad
The break-up would be prepared in two parts.. one would be fixed and other in terms of reimbursement, which shall be paid after producing the supporting documents, moreover 2nd part would help you in Tax exemption up to a certain limit..
Basic 18000 HRA 9000 CCA 800 Education 500 Special Allowance 5000 Total 33300
Reimbursement Components -
Medical Reimbursement 1250 Books & Periodicals 2000 Petrol 5000 Entertainment 2000 Driver 4000 Car Maintenance 1500 Phone 3000 Business Development 3000 Meal Vouchers 1000
Total 22750
Gross PM 56050 Gross PA 672600 Gratuity 10476 LTA 18000 CTC 701076
Hope it must help you to structure the same..
Regards,
Amit Seth.
From India, Ahmadabad
Dear Amith Just one correction Holiday period of three years is no more in the Act. 20 and more employees is the only condition Siva
From India, Chennai
From India, Chennai
Hi,
I am looking for Salary Break up of Rs 38300/ month salary which includes Rs 2000 /month as food allowance.
I am working with The NGO based in Delhi as a Veterinary Officer.
Can any one give me the Salary Break up and How do I file income tax?
Dr Prabhakaran Palanichamy
From India, Mumbai
I am looking for Salary Break up of Rs 38300/ month salary which includes Rs 2000 /month as food allowance.
I am working with The NGO based in Delhi as a Veterinary Officer.
Can any one give me the Salary Break up and How do I file income tax?
Dr Prabhakaran Palanichamy
From India, Mumbai
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