Dear Member, Can any guide me through statutory rules of salary break up ? Is it depends upon industry? or Or its depends upon company to company Thanks & regards Dinesh
From India, Calcutta
10From India, Calcutta
Dear Member, Basic and DA/VDA to be provided as per the laws of land. Allowances to be considered based on the Income tax regulations and benefits.
From India, Madras
From India, Madras
Dear Sir,
Thanks a lot. Please let me know the break up of Gross Salary as per statutory norms,( like Basic+HRA+Conveyance=Gross Salary. I want to know the percentage we give in each head as per statutory norms
Thanks & regards
Dinesh
From India, Calcutta
Thanks a lot. Please let me know the break up of Gross Salary as per statutory norms,( like Basic+HRA+Conveyance=Gross Salary. I want to know the percentage we give in each head as per statutory norms
Thanks & regards
Dinesh
From India, Calcutta
Dear Mr. Sudhir,
Thanks a lot Mr Sudhir for sharing the file . I just want to know that the percentage you have shown in the sheet is it okay as per statutory norms or not . If it is then which law?
Thanks & regards
Dinesh
From India, Calcutta
Thanks a lot Mr Sudhir for sharing the file . I just want to know that the percentage you have shown in the sheet is it okay as per statutory norms or not . If it is then which law?
Thanks & regards
Dinesh
From India, Calcutta
Hi,
Salary break up is depends on company to company because some organisation wil calculate on 40%, 50% and 60% base on company norms and this wil calculate on ctc break up means per annum calculate from sides and what are the benefits they are giving from the company.
Regards,
Sudhir Kumar
From India, Visakhapatnam
Salary break up is depends on company to company because some organisation wil calculate on 40%, 50% and 60% base on company norms and this wil calculate on ctc break up means per annum calculate from sides and what are the benefits they are giving from the company.
Regards,
Sudhir Kumar
From India, Visakhapatnam
Hi All,
Our labour consultant informs us that basic salary should be minimum 60% of the Gross Salary drawn by the employee. Is this correct, can anyone please give the specific rule or clause which states this as a rule.
I have seen a number of payslips where the basic salary is less than 30% of the Gross Salary drawn. Even in the example given the Basic is shown at 30% of the gross. Our earlier basic was 50% of the basic salary and subsequently we have gradually increased it to 60% of the Basic.
Please advise exact rule. We are based in Karnataka
Regards
From India, Bangalore
Our labour consultant informs us that basic salary should be minimum 60% of the Gross Salary drawn by the employee. Is this correct, can anyone please give the specific rule or clause which states this as a rule.
I have seen a number of payslips where the basic salary is less than 30% of the Gross Salary drawn. Even in the example given the Basic is shown at 30% of the gross. Our earlier basic was 50% of the basic salary and subsequently we have gradually increased it to 60% of the Basic.
Please advise exact rule. We are based in Karnataka
Regards
From India, Bangalore
Hi DInesh,
My view for salery break up should be,
Basic- 50%-55% of the gross salary but mind it the basic salary should not be less than the minimum wages of the state.
HRA-40% of the basic salary.
Cony.-Rs.800/- above than that it will be taxable.
Educational Cess- Rs.200/-
Medical Allow.- Rs. 1250/- Above this it will be taxable.
Rest should be kept under other allowances.
thanks & regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
My view for salery break up should be,
Basic- 50%-55% of the gross salary but mind it the basic salary should not be less than the minimum wages of the state.
HRA-40% of the basic salary.
Cony.-Rs.800/- above than that it will be taxable.
Educational Cess- Rs.200/-
Medical Allow.- Rs. 1250/- Above this it will be taxable.
Rest should be kept under other allowances.
thanks & regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
Dear Mr. Saxena,
Thanks a lot sir. You mean to say that as per statutory norms we have to keep in mind that basic should not be less than minimum wages of that particular state (irrespective of percentage)
Thanks & regards
Dinesh
From India, Calcutta
Thanks a lot sir. You mean to say that as per statutory norms we have to keep in mind that basic should not be less than minimum wages of that particular state (irrespective of percentage)
Thanks & regards
Dinesh
From India, Calcutta
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Rules for Statutory Deductions Exemptions Perquisites-Pay roll.doc