Dear All,
Request you to kindly suggest/advice me with the following :-
Regards
From India, Pune
1Request you to kindly suggest/advice me with the following :-
- If Other Allowances can be higher than the Basic Pay, if yes, then is there a cap to it..or certain calculation to derive at the Other Allowances Amount
- Is there a standard calculation for HRA & Medical Allowances & Transportation Allowances based on the Basic Pay
Regards
From India, Pune
yes, other allowances can be higher than Basic.
HRA - 50% of basic for metros & 40% for non metros.
Medical assistance - Rs.1250/- p.m. tax free
Transport allowance - rs.800/- p.m is tax free (alternatively you can claim for Fuel & maintenance charges for tax exemption if you own 2/4 wheelse in lieu of transport allowance)
From India, Lucknow
HRA - 50% of basic for metros & 40% for non metros.
Medical assistance - Rs.1250/- p.m. tax free
Transport allowance - rs.800/- p.m is tax free (alternatively you can claim for Fuel & maintenance charges for tax exemption if you own 2/4 wheelse in lieu of transport allowance)
From India, Lucknow
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