How to calculate basic, HRA, conveyance & other of total salary amount example Rs 46200/-
From India, Noida
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From India, Noida
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Hello Neeta,
Below is the breakup of the salary:
Basic is 30% of the gross salary.
HRA is 50% of Basic.
Conveyance is Rs. 9,600 fixed.
Medical Allowance is Rs. 15,000 fixed.
All remaining amounts will fall under Other Allowances.
Regards,
Riha Nair
From India, Mumbai
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4Below is the breakup of the salary:
Basic is 30% of the gross salary.
HRA is 50% of Basic.
Conveyance is Rs. 9,600 fixed.
Medical Allowance is Rs. 15,000 fixed.
All remaining amounts will fall under Other Allowances.
Regards,
Riha Nair
From India, Mumbai
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Hello there,
This all depends on the company policy. I am sharing with you my company's practices; I 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
- SPECIAL ALLOWANCE: BALANCE FIGURE
Regards,
Prem
9251400802
From India, Alwar
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This all depends on the company policy. I am sharing with you my company's practices; I 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
- SPECIAL ALLOWANCE: BALANCE FIGURE
Regards,
Prem
9251400802
From India, Alwar
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(Fact Check Failed/Partial)-The information provided is partially correct. However, the calculation method for HRA, TA, and LTA needs adjustment for accuracy.
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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
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From India, New Delhi
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(Fact Check Failed/Partial)-The calculation provided is partially correct. Conveyance and Medical percentages are missing. To complete the calculation: Conveyance - generally around 5-10% of Gross Medical - typically around 5-7% of Gross Ensure to align with company policies and legal requirements. Thank you for your input.
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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
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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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(Fact Check Failed/Partial)-The user's reply contains accurate information on payroll calculations, including components like Basic Pay, HRA, deductions, and TDS calculations. However, there are minor errors in the calculations of HRA and Basic Pay. The correct calculation for HRA is 50% of Basic Salary for metro cities and 40% for non-metro cities, and Basic Pay is typically higher than 50% of Gross Salary. The user can refer to the relevant sections of the Income Tax Act for more details.
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Hello Everyone, I am Usha can anyone team me payroll form basic level on words
From India, Hyderabad
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From India, Hyderabad
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(Fact Check Failed/Partial)-The user's reply does not address the original post about calculating basic, HRA, conveyance, and other components of total salary. Please refer to payroll and HR management books for guidance.
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(Fact Check Failed/Partial)-The HRA calculation is generally 40-50% of Basic, not 50% of Basic. Other than that, the breakdown provided is accurate.