Dear All, How to calculate Basic Pay, DA, HRA, Conveyance & Other Allowances from Gross Salary of Rs.20,000/-. I want know the correct formulas. Kindly do the needful. Regards Murugesh
From India, Madras
Acknowledge(0)
Amend(0)
25From India, Madras
Acknowledge(0)Amend(0)
sir
I also need the same format for calculation of Basic, PF, Conveyance, pay slip etc.
And I ned the struture/policy if you have regarding conveyance + meal claims of marketing emoloyees who are in field.
Please help...
Shrimin
From India, Delhi
Acknowledge(1)Amend(0)
I also need the same format for calculation of Basic, PF, Conveyance, pay slip etc.
And I ned the struture/policy if you have regarding conveyance + meal claims of marketing emoloyees who are in field.
Please help...
Shrimin
From India, Delhi
Acknowledge(1)Amend(0)
hi all, Pls tell me procedures for filling up & how to submit of PF, ESI, Prof . Tax forms. regards, Shivakanth
From India, Hyderabad
Acknowledge(3)
Amend(0)
0
0
From India, Hyderabad
Acknowledge(3)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user reply is off-topic as it does not address the calculation of Basic Pay, DA, HRA, Conveyance, and Other Allowances as requested in the original post. Please refer to the original query for guidance.
0
0
Dear,
Please note, there is no single formula to arrive at Salary Breakup and there are different formulas followed by different organizations, as per their own thinking and convenience. While deciding salary structure one has to remember following points
Also search for previous posts on same subject. There is lot of material already available on citehr.
Thanks & Regards
From India, Pune
Acknowledge(0)Amend(0)
0
0
Please note, there is no single formula to arrive at Salary Breakup and there are different formulas followed by different organizations, as per their own thinking and convenience. While deciding salary structure one has to remember following points
- Most of the statutory liabilities like PF, Gratuity, and Bonus etc. are percentages of Basic plus DA. Hence any rise in Basic or DA will increase statutory liabilities
- It is not necessary to have DA in Salary Structure. For that matter none of the items are compulsory or must.
- Income Tax treats some salary items (HRA, Conveyance) differently for the purpose of calculation of Income Tax liability. Hence organizations decide the breakup considering legal provisions to minimize tax liability.
- Some organizations keep some or all items of salary structure as percentage of Basic Pay. Whenever there is increase in Basic Pay, other items also increase automatically.
- Some organizations keep some or all items of salary structure as fixed allowances. In this case allowances remain uniform in respect of all employees. These allowances won’t change unless specific rise is given in those allowances.
- Some organizations divide entire gross salary into fix percentages to arrive at breakup of salary structure. In this case only percentages are uniform but allowances of individual will be different.
Also search for previous posts on same subject. There is lot of material already available on citehr.
Thanks & Regards
From India, Pune
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user's reply is generally accurate in explaining the different approaches organizations can take in structuring salaries. However, it is essential to note that while there is flexibility in designing salary structures, certain legal provisions must be followed, such as minimum wages laws and rules governing PF contributions. Additionally, the Income Tax Act specifies certain components like HRA and conveyance allowances and their tax treatment, which organizations must consider when determining the salary breakup. It's crucial to ensure compliance with all relevant laws and regulations while structuring employee salaries to avoid legal issues.
0
0
IT is may be useful
From India, Hyderabad
Acknowledge(2)Amend(0)
0
0
From India, Hyderabad
Acknowledge(2)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user's reply does not provide any useful information or correct formulas as requested in the original post.
0
0
Dear All, Hope the attachment will help you out with Salary calculation and break up!!
From India, Pune
Acknowledge(1)Amend(0)
0
0
From India, Pune
Acknowledge(1)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user reply does not provide the specific formulas requested in the original post for calculating Basic Pay, DA, HRA, Conveyance, and Other Allowances from a Gross Salary of Rs.20,000/-. Please refer to labor law and accounting resources for accurate calculation methods.
0
0
Dear All,
I am newly appointed as HR-MANAGER,in an educational institute. The total number of employees are 60.but employees drawing salary less thn 6500/p.m. are only 5. I want to know the institute is coverable under E.P.F.and E.S.I.C. ACT or not.
Thanks & Regards
From India, Delhi
Acknowledge(4)
Amend(0)
0
0
I am newly appointed as HR-MANAGER,in an educational institute. The total number of employees are 60.but employees drawing salary less thn 6500/p.m. are only 5. I want to know the institute is coverable under E.P.F.and E.S.I.C. ACT or not.
Thanks & Regards
From India, Delhi
Acknowledge(4)Amend(0)CiteHR.AI
(Fact Checked)-The institute with 60 employees and only 5 earning less than Rs. 6500/month is covered under both E.P.F. and E.S.I.C. ACT. (1 Acknowledge point)
0
0
I Thinks the percentages in the attachment are not that much satisfying. CCA Should be not more than Rs.800/- TA should be not more than Rs.1200/- Thanks Sekhar
From India, Hyderabad
Acknowledge(0)Amend(0)
0
0
From India, Hyderabad
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user reply is incorrect. There are no standard percentages for CCA and TA based on gross salary. Allowances may vary. It's essential to follow company policies.
0
0
Dear Mr. Murgesh,
Kindly calculate..the 30% basic in the CTC.
40% HRA in the Baic.
TA deduction (approx 800/month).
PF-12% of Basic.
Bonus - 10% Baic
(I think he/she is not application to ESIC deductions).
Medclaim - as per company agreement with (Insurance commpany).
Other Balance amount to be in special pay.
Regards
Srinivasulu.R
From India, Madras
Acknowledge(2)
Amend(0)
0
0
Kindly calculate..the 30% basic in the CTC.
40% HRA in the Baic.
TA deduction (approx 800/month).
PF-12% of Basic.
Bonus - 10% Baic
(I think he/she is not application to ESIC deductions).
Medclaim - as per company agreement with (Insurance commpany).
Other Balance amount to be in special pay.
Regards
Srinivasulu.R
From India, Madras
Acknowledge(2)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user's reply contains inaccuracies: 1. Basic pay, DA, HRA, Conveyance, and other allowances are typically calculated based on fixed percentages or amounts, not on CTC components. 2. ESIC deductions should be accounted for if applicable. 3. The calculation of various components like HRA and TA are not accurately represented. 4. Medclaim and special pay calculations are vague and need clarification. Consider revising the calculations and including accurate information for each component. Thank you for your input.
0
0
My Salary is 14000. pls divide the % into fragements such as(Bsaic, HRA, Medical, Spl. Allowance)
From India, Delhi
Acknowledge(4)
Amend(0)
0
0
From India, Delhi
Acknowledge(4)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user's reply is incorrect. To calculate components like Basic Pay, HRA, Medical, and Special Allowance, specific percentages are applied to the gross salary. Refer to labor law resources for accurate calculation methods.
0
0
Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
Basic-communica tion-skills_198 .ppt
Basic Accounting Tutorial.doc
Basic Attrition Analysis.xls
CiteHR.AI
(Fact Check Failed/Partial)-The reply provided needs correction. It should focus on the calculation of Basic, PF, Conveyance, and pay slip components from the Gross Salary. For the conveyance and meal claims structure/policy, further details are required.