Hi,
Can you please let me know the salary breakup with a gross salary of Rs. 55,000/- including Rs. 2,000 LTA deduction? The person will be based in Coimbatore, India in an Area Manager position. Your prompt response to this will be highly appreciated.
From India, Faridabad
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Can you please let me know the salary breakup with a gross salary of Rs. 55,000/- including Rs. 2,000 LTA deduction? The person will be based in Coimbatore, India in an Area Manager position. Your prompt response to this will be highly appreciated.
From India, Faridabad
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Salary Breakup for an Area Manager with Gross Salary of Rs. 55,000/-
To calculate the salary breakup with a gross salary of Rs. 55,000/- and an LTA deduction of Rs. 2,000 for an Area Manager based in Coimbatore, India, you can follow the steps below:
1. Basic Salary: Typically, the basic salary constitutes around 40-50% of the gross salary. Assuming a basic salary of 50%, the basic salary will be Rs. 27,500/-. This can vary depending on the company's policies.
2. House Rent Allowance (HRA): If the employee is eligible for HRA, it is generally around 40-50% of the basic salary. Calculating at 40%, the HRA will be Rs. 11,000/-.
3. Provident Fund (PF): PF is usually calculated at 12% of the basic salary, which amounts to Rs. 3,300/-.
4. Special Allowance: The remaining amount after deducting basic, HRA, PF, and LTA can be allocated to special allowance. In this case, the special allowance would be Rs. 13,200/-.
5. LTA Deduction: The LTA deduction of Rs. 2,000 will be reflected in the CTC (Cost to Company) structure.
By following this salary breakup structure, the employee's gross salary of Rs. 55,000/- can be effectively distributed across various components while ensuring compliance with labor laws and company policies.
From India, Gurugram
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28To calculate the salary breakup with a gross salary of Rs. 55,000/- and an LTA deduction of Rs. 2,000 for an Area Manager based in Coimbatore, India, you can follow the steps below:
1. Basic Salary: Typically, the basic salary constitutes around 40-50% of the gross salary. Assuming a basic salary of 50%, the basic salary will be Rs. 27,500/-. This can vary depending on the company's policies.
2. House Rent Allowance (HRA): If the employee is eligible for HRA, it is generally around 40-50% of the basic salary. Calculating at 40%, the HRA will be Rs. 11,000/-.
3. Provident Fund (PF): PF is usually calculated at 12% of the basic salary, which amounts to Rs. 3,300/-.
4. Special Allowance: The remaining amount after deducting basic, HRA, PF, and LTA can be allocated to special allowance. In this case, the special allowance would be Rs. 13,200/-.
5. LTA Deduction: The LTA deduction of Rs. 2,000 will be reflected in the CTC (Cost to Company) structure.
By following this salary breakup structure, the employee's gross salary of Rs. 55,000/- can be effectively distributed across various components while ensuring compliance with labor laws and company policies.
From India, Gurugram
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Salary breakup format.xls