Hi, Can any one help me how to calculate basic salary from gross salary. Is there an specific percentage is to be counted.
From India, Bangalore
From India, Bangalore
Plz some one help me how can i draw the salary with all deduction and what is the percentage of . S the percentage drwn by basic or gross salary plz help me ......i m working with ssi, plz send me
From India, Indore
From India, Indore
Plz some one help me how can i draw the salary with all deduction and what is the percentage of . S the percentage drwn by basic or gross salary plz help me ......i m working with ssi,
From India, Indore
From India, Indore
It is app. 40% of gross. The employees will be getting benefit if the basic is more as the contribution towards PF will also be more. pon
From India, Lucknow
604From India, Lucknow
Hello Gross Salary-COLA *COLA is Casual of Living Allownce then Gross Salary / 1.65 Example: 10000-400=9600 9600/1.65=5818.18 5818 is basic salary Shahzaib Khan
From Pakistan, Karachi
From Pakistan, Karachi
For basic salary we need to minus all fix allowances or COLA from gross and then multiply remaining figure on 1.55 or 1.65 depending on percentage of house rent.
Example
Gross Salary 15000/=
COLA or Fix Allowance Rs. 450/=
15000-450=14550
14550/1.55 or 1.65=9387/8818 is basic salary
Irfan Shabbir
From Pakistan, Lahore
Example
Gross Salary 15000/=
COLA or Fix Allowance Rs. 450/=
15000-450=14550
14550/1.55 or 1.65=9387/8818 is basic salary
Irfan Shabbir
From Pakistan, Lahore
There is no basic rule to calculate basic, if you increase basic employees will get less in hand so try and adjust, make a excel sheet with formula and then try and calculate in it that will give you the clear picture.
In my org it is 20% of your gross.
Regards,
Meena
From India, Mumbai
In my org it is 20% of your gross.
Regards,
Meena
From India, Mumbai
HI Friends........
good evening to all.
according to our company basic is 60% on gross salary. HRA-20%, OTHER ALLOWANCES-20%.
For Example:
gross salary is 7000/- Then
Basic is (60% on gross)=4200
HRA IS (20% on gross)=1400 and
O.A IS(20% on gross)=1400.
if any mistakes here plz give some details
thanks & Regards
From India, Hyderabad
good evening to all.
according to our company basic is 60% on gross salary. HRA-20%, OTHER ALLOWANCES-20%.
For Example:
gross salary is 7000/- Then
Basic is (60% on gross)=4200
HRA IS (20% on gross)=1400 and
O.A IS(20% on gross)=1400.
if any mistakes here plz give some details
thanks & Regards
From India, Hyderabad
Dear Sai,
I attach a PDF document released by the EPFO Chennai, (this is also available on the website of the organisation) that gives you an interpretation of Basic Wages. The interpretation includes almost all allowances other than the exclusions mentioned therein. Please note that there is no amendment in the definition in the act, but it is an interpretation. In case of any queries please revert.
M.V.KANNAN
From India, Madras
I attach a PDF document released by the EPFO Chennai, (this is also available on the website of the organisation) that gives you an interpretation of Basic Wages. The interpretation includes almost all allowances other than the exclusions mentioned therein. Please note that there is no amendment in the definition in the act, but it is an interpretation. In case of any queries please revert.
M.V.KANNAN
From India, Madras
to my opinion the basic pay is decided from the minimum wage applicable for skilled,semiskilled, unskilled person. Now it is up to your company to decide whether you are capable to pay more than minimum wage such as living wage, subsistence wage, comprehensive wage. For more idea go through the books of wage and salary administration.
From India, Calcutta
From India, Calcutta
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SALARY SHEET CALCULATION.xls