Salary Break up

aunkita11 · #1 04-11-2009, 04:58 PM

Hi,

I had just joined a new starting up orgqnozation in QSR industry,kindly suggest me that how i will do the calcukation of an individual who is drawing Rs.5500/-per month as a CTC.Specially the ESIC,PT and PF.

Needing some ones help urgently.

Thanks,
Ankita

jaiganesh2k · #2 04-11-2009, 05:12 PM

hai,

Calculate 60% of Gross Salary as Basic Salary
and 60% of basic as HRA and if any Hard Furnishing Allowances.
Provide any annual component like Ex Gratia, LTa ,Medical reimbursement..

Add the above monthly and annual component to get gross

12% of Basic as Employee Contribution towards PF and
4.75 % towards ESI ( Gross Salary less than 10000)
Professional Tax (differs for different salary slab and state)

deduct the above from gross for net salary.

aunkita11 · #3 04-11-2009, 05:46 PM

If someone is drawing Rs.5500/- as a monthly CTC.then.