We are a manufacturing company in Bangalore. Kindly advise us on the bifurcation method of CTC for our employees (Basic+HRA+Conveyance+medical+special allowance), etc. Also, please highlight the Income Tax-saving salary structure for our employees who are subject to income tax.
From India, Bengaluru
Acknowledge(0)
Amend(0)
1From India, Bengaluru
Acknowledge(0)Amend(0)
Hello,
The salary structure seems okay. Since those paying rent can avail HRA deduction as per income tax rules. Deduction for Conveyance is available up to Rs. 800/- per annum. Medical allowance deduction up to Rs. 15,000/- is available subject to the provision of medical bills by employees.
Thanks,
Bhagyashree
From India, Pune
Acknowledge(0)Amend(0)
The salary structure seems okay. Since those paying rent can avail HRA deduction as per income tax rules. Deduction for Conveyance is available up to Rs. 800/- per annum. Medical allowance deduction up to Rs. 15,000/- is available subject to the provision of medical bills by employees.
Thanks,
Bhagyashree
From India, Pune
Acknowledge(0)Amend(0)Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
CTC Calculator.xls