What are the guidelines for calculating BASIC, DA, HRA, Conveyance Allowances in Salary fixation to a new employee
From India, Mumbai
From India, Mumbai
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
From India, Nagpur
7Please 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
From India, Nagpur
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.
From India, Bhubaneswar
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.
From India, Bhubaneswar
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
From India, Calcutta
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
From India, Calcutta
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
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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From India, New Delhi
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
[/b]
From India, New Delhi
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
From India, New Delhi
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
From India, New Delhi
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