Hiiii All,
Greetings for the day !!!
Well can any body help me out with the salary break up logic. Exempted amount for each break up(where ever applicable) included in the file attached which is actually my present company's salary structure.
For Conveyance exempted amount is Rs. 800 pm
For Education Allowance it is Rs. 200 pm
For Medical Allowance it is Rs. 1250 pm
Field Allowance ?
Travel Allowance ?
Club & Recreation ?
Mobile Allowance ?
Mobile Expense ?
Petrol ?
But if the CTC amout increases then in that case how to adjust break up. Either to increase basic amount or to add the amount in other please guide me.
Regards,
Vimala
From India, Ahmadabad
3Greetings for the day !!!
Well can any body help me out with the salary break up logic. Exempted amount for each break up(where ever applicable) included in the file attached which is actually my present company's salary structure.
For Conveyance exempted amount is Rs. 800 pm
For Education Allowance it is Rs. 200 pm
For Medical Allowance it is Rs. 1250 pm
Field Allowance ?
Travel Allowance ?
Club & Recreation ?
Mobile Allowance ?
Mobile Expense ?
Petrol ?
But if the CTC amout increases then in that case how to adjust break up. Either to increase basic amount or to add the amount in other please guide me.
Regards,
Vimala
From India, Ahmadabad
How much percentage should be for Basic Pay if the Gross Salary is Rs.10,000/- or Rs.8,500/-
From India, Hyderabad
From India, Hyderabad
Hi Vimala,
For Club expenses, I.T. rules says like this
"The initial one time deposits or fees for corporate or institutional membership, where the benefit does not remain with a particular employee after cessation of employment, are exempt."
Field allowance is fully taxable.
Travel allowance is exempt as per I.T. rules
"Any allowance granted to meet the expenditure incurred on conveyance in performance of duties of an office/employment of profit. Provided free conveyance is not provided by the employer."
Mobile expenses/allowance as per I.T. rules
"the benefit of conveyance to and from residence to place of work, periodicals and journals required for discharge of work and expenses on telephones, including a mobile phone, shall not be perquisite."
Regards
R.Ponraj
From India, Lucknow
For Club expenses, I.T. rules says like this
"The initial one time deposits or fees for corporate or institutional membership, where the benefit does not remain with a particular employee after cessation of employment, are exempt."
Field allowance is fully taxable.
Travel allowance is exempt as per I.T. rules
"Any allowance granted to meet the expenditure incurred on conveyance in performance of duties of an office/employment of profit. Provided free conveyance is not provided by the employer."
Mobile expenses/allowance as per I.T. rules
"the benefit of conveyance to and from residence to place of work, periodicals and journals required for discharge of work and expenses on telephones, including a mobile phone, shall not be perquisite."
Regards
R.Ponraj
From India, Lucknow
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