hi,
i am new to hr field so i want to knw the formula to calculate gross salary. if someone\'s salary is 10000then how to calculate the gross salary for the same.
as per my understanding after reducing the employer share of PF & ESIC the figure come that is called gross salary but still i dont know the exact formula to calculate it.
kindly help me out
thanks & regards
aradhana
From India, Delhi
i am new to hr field so i want to knw the formula to calculate gross salary. if someone\'s salary is 10000then how to calculate the gross salary for the same.
as per my understanding after reducing the employer share of PF & ESIC the figure come that is called gross salary but still i dont know the exact formula to calculate it.
kindly help me out
thanks & regards
aradhana
From India, Delhi
Hi Aradhana. Gross pay is before deductions. After deductions it is Net Pay. There are many discussions abt the salary breakups. Search those so that you will get it. If not you shall reach me
From India, Bangalore
639From India, Bangalore
Hi Aradhana,
Mr. Jeevarathnam is correct. Gross salary is before the deductions and net pay is after the deductions (Which includes pf, ESI, PT etc)
From CTC deductions are made in the form of Annual bonus & PF, Then it comes as gross salary further it can be bifurcated based on the company's policy.
Regards,
Nitesh Jain
From India, Hyderabad
Mr. Jeevarathnam is correct. Gross salary is before the deductions and net pay is after the deductions (Which includes pf, ESI, PT etc)
From CTC deductions are made in the form of Annual bonus & PF, Then it comes as gross salary further it can be bifurcated based on the company's policy.
Regards,
Nitesh Jain
From India, Hyderabad
Hi, Aradhna, CTC means Cost to the Company, in which includes PF,ESI,Gratuity etc. Earning means CTC - PF,ESI (given by employer) = Earning Net Pay means Earning - deductions = Net Pay geeta
From India, Delhi
From India, Delhi
formula for gross salary at my company is
Earnings:
Basic consolidated.
HRA 40% of Basic
Child educ. allowance. 10% of basic
Medical allowance 8.33% of basic (can be fixed)
City Conveyance Allw. 10% of Basic.
PDA Prof. Dev.Allw. fixed as 250/150.
Special allowance Fixed or 8.33% of Basic.
Total: Gross.
Deductions:
PF - 12% of Basic (limit is 6500/- but can be deduct on above 6500/-.)
ESIC 1.75% of Gross Till salary 15000/-.
Prof. Tax. (as per Gross slab of your state)
Total of deductions.
earnings-deductions= Net Salary.
From India, Ahmadabad
Earnings:
Basic consolidated.
HRA 40% of Basic
Child educ. allowance. 10% of basic
Medical allowance 8.33% of basic (can be fixed)
City Conveyance Allw. 10% of Basic.
PDA Prof. Dev.Allw. fixed as 250/150.
Special allowance Fixed or 8.33% of Basic.
Total: Gross.
Deductions:
PF - 12% of Basic (limit is 6500/- but can be deduct on above 6500/-.)
ESIC 1.75% of Gross Till salary 15000/-.
Prof. Tax. (as per Gross slab of your state)
Total of deductions.
earnings-deductions= Net Salary.
From India, Ahmadabad
Hi
aradhana jain
bhardwaj is mentioned is right. on the bases of that you can make salary as mention bellow
Basic 6000
Hra 2000
CA 2000
deduction
pf 720(12% on basic)
Esi 175 (1.75%on Gross salary)
total dedution
895
Net salary is (gross salary min total deduction )
10000 -895 =9105
net salary is = 9105
PT ll be Rs 150 applicable if net salary is 10000 to 14999 .. 200 if net salary is 15000 or more
From India, Hubli
aradhana jain
bhardwaj is mentioned is right. on the bases of that you can make salary as mention bellow
Basic 6000
Hra 2000
CA 2000
deduction
pf 720(12% on basic)
Esi 175 (1.75%on Gross salary)
total dedution
895
Net salary is (gross salary min total deduction )
10000 -895 =9105
net salary is = 9105
PT ll be Rs 150 applicable if net salary is 10000 to 14999 .. 200 if net salary is 15000 or more
From India, Hubli
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Salary breakup format.xls