Dear Seniors, I am not able to post my queries. Plz help me out.. Thank You.
From India, Hyderabad
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16From India, Hyderabad
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From India, Visakhapatnam
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From India, Visakhapatnam
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Dear Seniors,
Can anyone help me out in calculating the salary, ESI, PF, PT, and TDS? I mean, I need complete help on:
- What is meant by salary Break Up?
- What is meant by CTC?
- Slab Rates in AP?
- How to calculate Salary with deductions.
Please provide the basic information that an HR should know, especially someone who is new to the field.
Regards,
Parvathi
From India, Guntur
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Can anyone help me out in calculating the salary, ESI, PF, PT, and TDS? I mean, I need complete help on:
- What is meant by salary Break Up?
- What is meant by CTC?
- Slab Rates in AP?
- How to calculate Salary with deductions.
Please provide the basic information that an HR should know, especially someone who is new to the field.
Regards,
Parvathi
From India, Guntur
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Dear Parvathi,
I am also a fresher in the HR field. Just wanted to share the information I know.
Seniors, please excuse me if I say anything wrong and kindly correct me.
PF - Provident Fund (12% of employee basic and 13.61% of employer basic)
PT - Profession Tax (differs by state)
In Andhra Pradesh, Profession Tax rates are as follows:
- Up to 1500/- per month - Nil
- 1500-1999 - 16/-
- 2000-2999 - 25/-
- 3000-3999 - 35/-
- 4000-4999 - 45/-
- 5000-5999 - 60/-
- 6000-9999 - 80/-
- 10000-14999 - 100/-
- 15000-19999 - 150/-
- 20000 & above - 200/-
ESI - Employee State Insurance (1.75% of employee total salary and 4.75% of employer salary)
In a payslip, we have two columns: Earnings and Deductions
Earnings:
- Basic
- HRA
- Conveyance
- Medical Allowance
- LTA
- Special Allowance
Deductions:
- PF
- PT
- ESI
Basic - 30-40% of salary
HRA - 50% of Basic in Metro Cities (Hyderabad, Mumbai, Bangalore, Kolkata, Delhi, Chennai), 40% of Basic in non-Metros
Conveyance - 800 per month; in case of handicapped, 1600 per month. Excess amount treated as taxable.
LTA - Leave Travel Allowance can be claimed once in 2 years or twice in 4 years (for eligible individuals). It is used to reduce tax and can be claimed at the end of the financial year.
Medical allowance - 1250 per month (for eligible individuals)
Special allowance - (Gross salary - Basic - HRA - Conveyance - LTA)
All this information I got from this site and web...hope it is useful to you.
From India, Hyderabad
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I am also a fresher in the HR field. Just wanted to share the information I know.
Seniors, please excuse me if I say anything wrong and kindly correct me.
PF - Provident Fund (12% of employee basic and 13.61% of employer basic)
PT - Profession Tax (differs by state)
In Andhra Pradesh, Profession Tax rates are as follows:
- Up to 1500/- per month - Nil
- 1500-1999 - 16/-
- 2000-2999 - 25/-
- 3000-3999 - 35/-
- 4000-4999 - 45/-
- 5000-5999 - 60/-
- 6000-9999 - 80/-
- 10000-14999 - 100/-
- 15000-19999 - 150/-
- 20000 & above - 200/-
ESI - Employee State Insurance (1.75% of employee total salary and 4.75% of employer salary)
In a payslip, we have two columns: Earnings and Deductions
Earnings:
- Basic
- HRA
- Conveyance
- Medical Allowance
- LTA
- Special Allowance
Deductions:
- PF
- PT
- ESI
Basic - 30-40% of salary
HRA - 50% of Basic in Metro Cities (Hyderabad, Mumbai, Bangalore, Kolkata, Delhi, Chennai), 40% of Basic in non-Metros
Conveyance - 800 per month; in case of handicapped, 1600 per month. Excess amount treated as taxable.
LTA - Leave Travel Allowance can be claimed once in 2 years or twice in 4 years (for eligible individuals). It is used to reduce tax and can be claimed at the end of the financial year.
Medical allowance - 1250 per month (for eligible individuals)
Special allowance - (Gross salary - Basic - HRA - Conveyance - LTA)
All this information I got from this site and web...hope it is useful to you.
From India, Hyderabad
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Dear Parvathi, Sorry it got messed up.. Earning Basic HRA Conveyance Medical Allowance LTA Special Allowance Deductions PF PT ESI
From India, Hyderabad
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From India, Hyderabad
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