What Are The General Components Of Salary In India?

viswa_111@gmail.com

What are the guidelines for calculating BASIC, DA, HRA, Conveyance Allowances in Salary fixation to a new employee
18th April 2007 From India, Mumbai

prashant_patil

Hi to all,
Please add deduction factors too. This is also a components of salary. I am mentioning few
1) Employees Provident Fund
2) ESIC
3) Profession Tax
4) Labour welfare fund
5) LIC (if attached to salary)
This is general deudctions, hopes other members will add more..
Regards
20th April 2007 From India, Nagpur

poonam28

hi,
well my current package is 2.5 lakhs as i am a fresher,but my take home is less.the rest amount goes in superannuation,medical reimbursement ,ltc,etc.
so i want to know that is it possible for my company to include that medical benfit within the range of rs 15,000 as a part of salry and is it possible for superannuation also and wil it be taxable.plz help me coz i have been asked to restructure the ctc of my company.
5th May 2007 From India, Bhubaneswar

bn_banerjee

Hi all,
Nice to read all from you. I have one query. Is it mendatory to put HRA as a component of salary. We want to remove this component from the salary break up, but one of my good friedn is saying that it is mendatory to give minimum 5% of HRA as a component of salary?
Can you please help me out?
Thanks & regards,
Bibek Banerjee
2nd June 2007 From India, Calcutta

sn_sureshgopu

Hi Expertisee’s, Can anyone please let me know what are the tax percentage and tax limit amount for all the salary component list..... Regards, Suresh Gopu
21st December 2007

prashant_hrd

hi taruna
Basic ( 40 %)
HRA (50% or 40% as case may be)
Medical Allowances
Conveyance Allowances (800pm max)
Special Allowances:( yes it is fully taxable if it not specified, it is only exempt under section 10(14) to the extent the amount is utilised for the specified purpose for which allowance is received.
Hope this is clear
Cheers
Prashant
Manager - HR
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30th March 2008 From India, New Delhi

prashant_hrd

Araktim

Rs.15,000 medical reimbursement is non taxable to the employee if bills are produced but at the same time company has to pay FBT on it.
3rd April 2008

gaurav666

hi i have doubt on LTA. is it up to 15000 pa is nontaxable or actuals incurred in 2 journeys in a block of 4 years. plz reply ,,.. regards, gaurav
6th August 2008 From India, Vadodara

Arpita kapoor

Hello everyone,
I am a fresh HR working for a software service provider start up company.I have to configure payroll for my company.can anyone tell me what are the components that i shud include and plz.let me know the important calculations also.
Regards,
Arpita kapoor
8th January 2009 From India, Pune

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