Please give me the salary breakup for CTC Rs. 45000/- if variable pay with Rs. 4000/- Conveyance-Rs. 800/-, EPF Rs. 885/-, PF 780/- and what could be the Basic, HRA and other allowances?
From India, Madras
Acknowledge(0)
Amend(0)
1From India, Madras
Acknowledge(0)Amend(0)
Hi
As per your query please find enclosed the details of salary but still I would like seniors at CiteHR to check the same.
XYZMONTHLYANNUALLYBasic22,731.00HRA11,369.00Special Allowance3,372.0037,472.00449,664.00conv all8009600PF272832736variable pay400048000CTC GROSS( in Rs)45,000.00459,264.00
EPF & PF are the same components i.e 12% of basic +DA. Here you can see that PF is 2728 which is calculated after finding basic component it can not be preassumed. In case you employers also deduct their contribution from employee's salary so you have to deduct the same amount (2728) from employee's salary so total PF deductions in that case will be (2728+2728=5456) and than you have to readjust the in hand salary. I have calculated Basic as 60.665% of in hand per month salary, HRA as 50% of Basic +DA(if opted by employer), & Special allowances(9% of in hand per motnh salary). Other variable component remains fixed such as 4000 & conv allowance of 800.
Regards
Pooja
From India, Delhi
Acknowledge(0)Amend(0)
As per your query please find enclosed the details of salary but still I would like seniors at CiteHR to check the same.
XYZMONTHLYANNUALLYBasic22,731.00HRA11,369.00Special Allowance3,372.0037,472.00449,664.00conv all8009600PF272832736variable pay400048000CTC GROSS( in Rs)45,000.00459,264.00
EPF & PF are the same components i.e 12% of basic +DA. Here you can see that PF is 2728 which is calculated after finding basic component it can not be preassumed. In case you employers also deduct their contribution from employee's salary so you have to deduct the same amount (2728) from employee's salary so total PF deductions in that case will be (2728+2728=5456) and than you have to readjust the in hand salary. I have calculated Basic as 60.665% of in hand per month salary, HRA as 50% of Basic +DA(if opted by employer), & Special allowances(9% of in hand per motnh salary). Other variable component remains fixed such as 4000 & conv allowance of 800.
Regards
Pooja
From India, Delhi
Acknowledge(0)Amend(0)
Hi
As per your query please find enclosed the details of salary but still I would like seniors at CiteHR to check the same.
BASIC(Rs.22731) + HRA(Rs.11366)+other allowance (Rs.3372)=Rs.37,472/- (in hand per month salary).
+ Conveyance allowance = Rs.800
+ Variable allowance = Rs.4000
+ PF (12% of basic + DA) = Rs.2728
______________________________
TOTAL CTC : Rs.45000/-
_______________________________
EPF & PF are the same components i.e 12% of basic +DA. Here you can see that PF is 2728 which is calculated after finding basic component it can not be preassumed. In case you employers also deduct their contribution from employee's salary so you have to deduct the same amount (2728) from employee's salary so total PF deductions in that case will be (2728+2728=5456) and than you have to readjust the in hand salary. I have calculated Basic as 60.665% of in hand per month salary, HRA as 50% of Basic +DA(if opted by employer), & Special allowances(9% of in hand per motnh salary), this is for employees staying in Metro cities. Other variable component remains fixed such as 4000 & conv allowance of 800.
From India, Delhi
Acknowledge(0)Amend(0)
0
0
As per your query please find enclosed the details of salary but still I would like seniors at CiteHR to check the same.
BASIC(Rs.22731) + HRA(Rs.11366)+other allowance (Rs.3372)=Rs.37,472/- (in hand per month salary).
+ Conveyance allowance = Rs.800
+ Variable allowance = Rs.4000
+ PF (12% of basic + DA) = Rs.2728
______________________________
TOTAL CTC : Rs.45000/-
_______________________________
EPF & PF are the same components i.e 12% of basic +DA. Here you can see that PF is 2728 which is calculated after finding basic component it can not be preassumed. In case you employers also deduct their contribution from employee's salary so you have to deduct the same amount (2728) from employee's salary so total PF deductions in that case will be (2728+2728=5456) and than you have to readjust the in hand salary. I have calculated Basic as 60.665% of in hand per month salary, HRA as 50% of Basic +DA(if opted by employer), & Special allowances(9% of in hand per motnh salary), this is for employees staying in Metro cities. Other variable component remains fixed such as 4000 & conv allowance of 800.
From India, Delhi
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The calculation provided is incorrect. The PF contribution should be 12% of Basic + DA, not a fixed amount. Basic, HRA, and other allowances need to be recalculated based on this formula.
0
0
Hi,
I am sorry if I am being too experimental in this calculation.
Considering that the contract is of 45000/month thus, it turns out to be the annual package of 540000. The variable pay would be given as a performance bonus at the end of the year. Thus the monthly salary stands at 41000 on which the calculation is to be made. Out of this 885 turns out to be the EPF, conveyance is 800.
Now let the Basic be 30% of the gross and HRA+DA be 50% of Gross.
Basic = 12,300
HRA + DA = 20,500
Thus, Special Allowance stands at 6,515
A total of 41000
Deductions would be the PF and EPF = 780+885 = 1665
A professional tax of Rs. 200 deducted by the employer.
Total deductions = 1865
Net payable salary would be Rs. 39,135
This is what I thought of the breakup.
Of course, with my assumptions it could go grossly wrong. Would hope some corrections would be suggested by specialists.
From India, New Delhi
Acknowledge(0)Amend(0)
0
0
I am sorry if I am being too experimental in this calculation.
Considering that the contract is of 45000/month thus, it turns out to be the annual package of 540000. The variable pay would be given as a performance bonus at the end of the year. Thus the monthly salary stands at 41000 on which the calculation is to be made. Out of this 885 turns out to be the EPF, conveyance is 800.
Now let the Basic be 30% of the gross and HRA+DA be 50% of Gross.
Basic = 12,300
HRA + DA = 20,500
Thus, Special Allowance stands at 6,515
A total of 41000
Deductions would be the PF and EPF = 780+885 = 1665
A professional tax of Rs. 200 deducted by the employer.
Total deductions = 1865
Net payable salary would be Rs. 39,135
This is what I thought of the breakup.
Of course, with my assumptions it could go grossly wrong. Would hope some corrections would be suggested by specialists.
From India, New Delhi
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user's reply contains inaccuracies in the calculation of the salary breakup. The EPF, PF, and Professional Tax deductions are incorrect. The correct calculations for Basic, HRA, and other allowances need adjustment.
0
0
Basic should be 40% of CTC, HRA should be 50% of Basic inccase Metropolitan Cities, 40% in case of other cities.
From India, Mumbai
Acknowledge(0)Amend(0)
0
0
From India, Mumbai
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The information provided regarding the Basic and HRA calculation based on a percentage of CTC is incorrect. The Basic, HRA, and other allowances are typically determined based on company policies and industry standards, not fixed percentages of CTC.
0
0
Respected Sir/Madam, please give me the salary breakup for CTC Rs. 34000/- Without PF and ESI. Thanks & Regards Vishnu M
From India, Ernakulam
Acknowledge(0)Amend(0)
0
0
From India, Ernakulam
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-[The CTC salary breakup for Rs. 34000/- without PF and ESI is: - Basic: Rs. 34000/- - HRA: Typically 40-50% of Basic - Other Allowances: Any remaining amount after Basic and HRA Please ensure compliance with minimum wage laws and provide a detailed salary structure. Thank you for your attention to this matter.]
0
0
Please give me the salary breakup for CTC Rs. 40000/- with only professional tax deduction of Rs.200 per month
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. The correct salary breakup for CTC Rs. 40000/- with only professional tax deduction of Rs. 200 per month should be provided based on the original post's details. Please refer to the provided salary components for accurate calculations.
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.
Typical salary breakup.jpg
Salary breakup format.xls
CiteHR.AI
(Fact Check Failed/Partial)-The calculation provided is incorrect. The PF deduction should be 12% of Basic + DA, not a preassumed figure. The breakdown of Basic, HRA, and other allowances also needs adjustment.