Hii Everybody, Can you pls tell me what would be the CTC breakup for salary Rs. 83000/-. and how would Tax will be dedcted from this net salary? please help . Regards Supriya
From India, Mumbai
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26From India, Mumbai
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Supriya... CTC of 83000 or a monthly gross of 83000 pls confirm
From India, Mumbai
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From India, Mumbai
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I hope this helps you understand the solution to your problem.
Please note that the tax liability will also be calculated by deducting the HRA to the eligible limit and the medical bills depending on a case-to-case basis.
Again, if the person fails to invest under Section 80C (with a cap limit of 1 lakh), the deducted 1 lakh should not be deducted, and the whole income is to be taxed.
Also, if the person has a small income from other means which he asks your firm to adjust, the same is to be adjusted. I believe this will depend on the company policy.
Hope this helped.
From India, Mumbai
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Please note that the tax liability will also be calculated by deducting the HRA to the eligible limit and the medical bills depending on a case-to-case basis.
Again, if the person fails to invest under Section 80C (with a cap limit of 1 lakh), the deducted 1 lakh should not be deducted, and the whole income is to be taxed.
Also, if the person has a small income from other means which he asks your firm to adjust, the same is to be adjusted. I believe this will depend on the company policy.
Hope this helped.
From India, Mumbai
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Ankita,
PF 6000 worked out, not getting. Can you please help me understand?
Supriya,
Shifting a chunk of income to reimbursements cuts annual tax by a good amount.
A higher basic salary increases the contribution towards PF.
Junking bonus/company bonus other than statutory helps increase the net salary at home.
From India, Ahmadabad
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PF 6000 worked out, not getting. Can you please help me understand?
Supriya,
Shifting a chunk of income to reimbursements cuts annual tax by a good amount.
A higher basic salary increases the contribution towards PF.
Junking bonus/company bonus other than statutory helps increase the net salary at home.
From India, Ahmadabad
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Hello Bharadwaj,
Since the basic is greater than 6000, and assuming that the employee is covered under the PF Act (which states that if an employee is once covered under the PF Act, he continues to be covered under it, even if his salary rises above 6000. In such cases, both parties are to at least contribute 12% on the upper limit of 6000).
Hence, I am contributing PF of 780 pm on both ends to the PF account.
I hope I clarified your doubt.
From India, Mumbai
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Since the basic is greater than 6000, and assuming that the employee is covered under the PF Act (which states that if an employee is once covered under the PF Act, he continues to be covered under it, even if his salary rises above 6000. In such cases, both parties are to at least contribute 12% on the upper limit of 6000).
Hence, I am contributing PF of 780 pm on both ends to the PF account.
I hope I clarified your doubt.
From India, Mumbai
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pf salary limit mentioned in epf act is 6500. Well, its ok by now.
From India, Ahmadabad
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From India, Ahmadabad
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