How to calculate basic, HRA, conveyance & other of total salary amount example Rs 46200/-
From India, Noida
From India, Noida
Hello Neeta,
Below is the break up of salary:-
Basic is 30% of gross salary
HRA is 50% of Basic
Conveyance is Rs. 9,600 fixed
Medical Allowance is Rs. 15,000 fixed
Rest all amount will come into Other Allowances
Regards,
Riha Nair
From India, Mumbai
3Below is the break up of salary:-
Basic is 30% of gross salary
HRA is 50% of Basic
Conveyance is Rs. 9,600 fixed
Medical Allowance is Rs. 15,000 fixed
Rest all amount will come into Other Allowances
Regards,
Riha Nair
From India, Mumbai
Hello There,
This is all depends on the company policy.
As I am sharing you my company practice hope that may help you.
BASIC - 50% OF CTC
HRA - 50% OF Basic
TA - 1600 MAX
MEDICAL - 1250
LTA - 8.33% OF BASIC
BONUS - 8.33% OF BASIC
C.E.A. - 200
SPACIAL ALLOWANCE - BALANCE FIGURE
Regards,
Prem
9251400802
From India, Alwar
This is all depends on the company policy.
As I am sharing you my company practice hope that may help you.
BASIC - 50% OF CTC
HRA - 50% OF Basic
TA - 1600 MAX
MEDICAL - 1250
LTA - 8.33% OF BASIC
BONUS - 8.33% OF BASIC
C.E.A. - 200
SPACIAL ALLOWANCE - BALANCE FIGURE
Regards,
Prem
9251400802
From India, Alwar
How to calculate basic, HRA, conveyance & Medical of total salary amount in Percentage Gross - 100% Basic - 50 % of Gross Hra - 30% of Gross Conveyance - _____ Medical - _________
From India, New Delhi
From India, New Delhi
Payroll calculations usually constitute 4 main components – Basic pay, Allowances, Deductions, and IT Declarations. Income Tax is calculated on (Basic + Allowances – Deductions) * 12 – (IT Declarations + Standard deductions)
Gross Pay
Gross Pay is the sum of Basic pay + Allowances.
Net Pay
Net Pay is the difference between Gross Pay – (Deductions + Total TDS). Total TDS is the sum of TDS, Surcharge, Health & Education Cess.
HRA
The amount received as the HRA from the employer. Actual rent paid less 10% of the basic salary and 50% of the basic salary if staying in a metro city and 40% in a non-metro city.
Basic Pay
Basic Pay is 50% of Gross salary (Gross * 0.5).
Deductions
Deductions are the sum of PF, ESI, and PT etc.
• TDS is calculated on (Basic + Allowances – Deductions) * 12 – (IT Declarations + Standard deductions)
• PF deduction(Provident Fund) is 12% of Basic or 15,000, which ever is lower
• ESI is 0.75% of – Gross Pay or 21,000, whichever is lower
• Standard deductions (50,000)
Know more at: www.sumopayroll.com
From India
Gross Pay
Gross Pay is the sum of Basic pay + Allowances.
Net Pay
Net Pay is the difference between Gross Pay – (Deductions + Total TDS). Total TDS is the sum of TDS, Surcharge, Health & Education Cess.
HRA
The amount received as the HRA from the employer. Actual rent paid less 10% of the basic salary and 50% of the basic salary if staying in a metro city and 40% in a non-metro city.
Basic Pay
Basic Pay is 50% of Gross salary (Gross * 0.5).
Deductions
Deductions are the sum of PF, ESI, and PT etc.
• TDS is calculated on (Basic + Allowances – Deductions) * 12 – (IT Declarations + Standard deductions)
• PF deduction(Provident Fund) is 12% of Basic or 15,000, which ever is lower
• ESI is 0.75% of – Gross Pay or 21,000, whichever is lower
• Standard deductions (50,000)
Know more at: www.sumopayroll.com
From India
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