How to calculate basic, HRA, conveyance & other of total salary amount example Rs 46200/-
From India, Noida
From India, Noida
3
Hello There,
This is all depends on the company policy.
As I am sharing you my company practice hope that may help you.
BASIC - 50% OF CTC
HRA - 50% OF Basic
TA - 1600 MAX
MEDICAL - 1250
LTA - 8.33% OF BASIC
BONUS - 8.33% OF BASIC
C.E.A. - 200
SPACIAL ALLOWANCE - BALANCE FIGURE
Regards,
Prem
9251400802
From India, Alwar
This is all depends on the company policy.
As I am sharing you my company practice hope that may help you.
BASIC - 50% OF CTC
HRA - 50% OF Basic
TA - 1600 MAX
MEDICAL - 1250
LTA - 8.33% OF BASIC
BONUS - 8.33% OF BASIC
C.E.A. - 200
SPACIAL ALLOWANCE - BALANCE FIGURE
Regards,
Prem
9251400802
From India, Alwar
How to calculate basic, HRA, conveyance & Medical of total salary amount in Percentage Gross - 100% Basic - 50 % of Gross Hra - 30% of Gross Conveyance - _____ Medical - _________
From India, New Delhi
From India, New Delhi
Payroll calculations usually constitute 4 main components – Basic pay, Allowances, Deductions, and IT Declarations. Income Tax is calculated on (Basic + Allowances – Deductions) * 12 – (IT Declarations + Standard deductions)
Gross Pay
Gross Pay is the sum of Basic pay + Allowances.
Net Pay
Net Pay is the difference between Gross Pay – (Deductions + Total TDS). Total TDS is the sum of TDS, Surcharge, Health & Education Cess.
HRA
The amount received as the HRA from the employer. Actual rent paid less 10% of the basic salary and 50% of the basic salary if staying in a metro city and 40% in a non-metro city.
Basic Pay
Basic Pay is 50% of Gross salary (Gross * 0.5).
Deductions
Deductions are the sum of PF, ESI, and PT etc.
• TDS is calculated on (Basic + Allowances – Deductions) * 12 – (IT Declarations + Standard deductions)
• PF deduction(Provident Fund) is 12% of Basic or 15,000, which ever is lower
• ESI is 0.75% of – Gross Pay or 21,000, whichever is lower
• Standard deductions (50,000)
Know more at: www.sumopayroll.com
From India
Gross Pay
Gross Pay is the sum of Basic pay + Allowances.
Net Pay
Net Pay is the difference between Gross Pay – (Deductions + Total TDS). Total TDS is the sum of TDS, Surcharge, Health & Education Cess.
HRA
The amount received as the HRA from the employer. Actual rent paid less 10% of the basic salary and 50% of the basic salary if staying in a metro city and 40% in a non-metro city.
Basic Pay
Basic Pay is 50% of Gross salary (Gross * 0.5).
Deductions
Deductions are the sum of PF, ESI, and PT etc.
• TDS is calculated on (Basic + Allowances – Deductions) * 12 – (IT Declarations + Standard deductions)
• PF deduction(Provident Fund) is 12% of Basic or 15,000, which ever is lower
• ESI is 0.75% of – Gross Pay or 21,000, whichever is lower
• Standard deductions (50,000)
Know more at: www.sumopayroll.com
From India
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