625
As per EPF act , any of the components(HRA,Spl allow,Incentive,etc..) should not exceed than basic salary
From India, Madurai
From India, Madurai
The HRA Calculations depend on the palce of residence. For metro HRA can not exceed 50 % of basic Salary For non metro its 40%. However HRA has impact on IT if it exceeds the limits.
From India, Vadodara
From India, Vadodara
Dear Friends,
Below given points are to be considered while discussing:
1. Where it is written that salary is to be splitted in to various components including HRA?
2. Is there any law to pay HRA?
3. When there is no law then why we pay it is?
4. What is the meaning of allowance? Can the quantum of any allowance be more than salary?
5. Is there any policy in place for payment of HRA mentioning therein specifically the purpose for payment of HRA and % age thereof so that the same can be explained to the authority that the same payment is not camouflage or not intended to deceive someone?
6. What will happen when COW will be implemented wherein there is a provision that when excluded wages exceeds 50% of wages then the excess amount of 50% will be treated as wages?
From India, Mumbai
Below given points are to be considered while discussing:
1. Where it is written that salary is to be splitted in to various components including HRA?
2. Is there any law to pay HRA?
3. When there is no law then why we pay it is?
4. What is the meaning of allowance? Can the quantum of any allowance be more than salary?
5. Is there any policy in place for payment of HRA mentioning therein specifically the purpose for payment of HRA and % age thereof so that the same can be explained to the authority that the same payment is not camouflage or not intended to deceive someone?
6. What will happen when COW will be implemented wherein there is a provision that when excluded wages exceeds 50% of wages then the excess amount of 50% will be treated as wages?
From India, Mumbai
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