Hi Plz tell me how to calculate the basic salary. Thank & Regards Prathamesh Chawan
From India, Pune
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From India, Pune
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Basic salary is always calculated on base salary i.e (Gross - PF (Employer’s contribution)) = Base Salary. Basic = 40% of Base Salary. Hope it will help Regards, Priyanka
From India
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From India
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Dear Prathamesh,
Common Method for Calculating Salary Structure
The most common method of calculating the salary structure is as follows:
- ₹1,000.00 monthly salary
- 60% of the salary: Basic + DA (60% Basic + 40% DA)
- 40% of the salary: Allowances (HRA - 20% + CCA - 40% + Education/Traveling/Conveyance - 40%) — earning part 'A'
- Deductions 'B': 12% EPF (of Basic + DA) + 1.75% ESIC (on gross salary/earning part 'A') + Professional Tax + other deductions
- A - B = Net salary
All the best. Expecting more sharing on this issue.
Regards,
Nitin Parab
[Phone Number Removed For Privacy Reasons]
From India, Mumbai
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6Common Method for Calculating Salary Structure
The most common method of calculating the salary structure is as follows:
- ₹1,000.00 monthly salary
- 60% of the salary: Basic + DA (60% Basic + 40% DA)
- 40% of the salary: Allowances (HRA - 20% + CCA - 40% + Education/Traveling/Conveyance - 40%) — earning part 'A'
- Deductions 'B': 12% EPF (of Basic + DA) + 1.75% ESIC (on gross salary/earning part 'A') + Professional Tax + other deductions
- A - B = Net salary
All the best. Expecting more sharing on this issue.
Regards,
Nitin Parab
[Phone Number Removed For Privacy Reasons]
From India, Mumbai
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Salary with TDS Calculation-Fin al Amended for net.xls
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