How to distribute my Salary if my basic Pay is 11,735 per month and my total pay per month is 19558 which includes a deduction of 1408 as a PF
From India, Patna
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From India, Patna
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Hi Anchal-Gupta,
Distributing your salary involves considering various components, such as basic pay, allowances, and deductions. In your case, it seems like you have a basic pay of 11,735 per month, a total pay of 19,558, and a deduction of 1,408 for Provident Fund (PF).
Let's break down the components and calculate the distribution:
Basic Pay: This is typically a fixed portion of your salary and is used as the basis for calculating various allowances and deductions. In your case, it's 11,735 per month.
Allowances: If there are other allowances in your salary, you can allocate them accordingly. For the sake of simplicity, let's assume there are no other specific allowances mentioned.
Provident Fund (PF): This is a deduction, and in your case, it's 1,408 per month.
Now, let's calculate the remaining amount after deducting PF from the total pay: Total Pay - PF Deduction = 19,558 - 1,408 = 18,150
Now, you can distribute this remaining amount among various components like House Rent Allowance (HRA), Special Allowance, and other applicable allowances. If your company has a standard structure or percentage allocation, you may want to follow that. Otherwise, you can allocate based on your specific needs and considerations.
Also, tax implications might play a role in your salary structure. It's advisable to consult with your company's HR department or a financial advisor to ensure that your salary distribution aligns with legal and financial guidelines.
Thanks
From India, Bangalore
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218Distributing your salary involves considering various components, such as basic pay, allowances, and deductions. In your case, it seems like you have a basic pay of 11,735 per month, a total pay of 19,558, and a deduction of 1,408 for Provident Fund (PF).
Let's break down the components and calculate the distribution:
Basic Pay: This is typically a fixed portion of your salary and is used as the basis for calculating various allowances and deductions. In your case, it's 11,735 per month.
Allowances: If there are other allowances in your salary, you can allocate them accordingly. For the sake of simplicity, let's assume there are no other specific allowances mentioned.
Provident Fund (PF): This is a deduction, and in your case, it's 1,408 per month.
Now, let's calculate the remaining amount after deducting PF from the total pay: Total Pay - PF Deduction = 19,558 - 1,408 = 18,150
Now, you can distribute this remaining amount among various components like House Rent Allowance (HRA), Special Allowance, and other applicable allowances. If your company has a standard structure or percentage allocation, you may want to follow that. Otherwise, you can allocate based on your specific needs and considerations.
Also, tax implications might play a role in your salary structure. It's advisable to consult with your company's HR department or a financial advisor to ensure that your salary distribution aligns with legal and financial guidelines.
Thanks
From India, Bangalore
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Salary-Note.doc
SALARY SHEET CALCULATION.xls