Dear friends,
1. Would like to know whether HRA, Conveyance, Medical, Education Allo.
is caluclated on basic or Gross??
2. Why do some companies fix conveyance at 800/- p.m is ther any
reason for this?
Regards
Tittli
From India, Bharuch
161. Would like to know whether HRA, Conveyance, Medical, Education Allo.
is caluclated on basic or Gross??
2. Why do some companies fix conveyance at 800/- p.m is ther any
reason for this?
Regards
Tittli
From India, Bharuch
Dear Tittli,
many companies have diffrent ways of calculating, howver while calculating we need to keep in mind that the basic and gross is fixed at par with minimum wages of that state.
Regards
Jatin
9762382477
From India, Pune
many companies have diffrent ways of calculating, howver while calculating we need to keep in mind that the basic and gross is fixed at par with minimum wages of that state.
Regards
Jatin
9762382477
From India, Pune
Yes Allowances are calculated on Basic Salary and Conveyance is 800 fixed because in Inocme tax maximum rebate on conveyance is 9600/- per year.... Ajaay Raaghav
From India, Coimbatore
From India, Coimbatore
ya Ajay is right.
Regards,
Reema
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From India, Coimbatore
Regards,
Reema
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From India, Coimbatore
Hi tittli,
1. No, Allowances is not calculated on Basic or Gross Salary except HRA which is 50% of Basic.
2. Other Allowance is decided according to expemption in IT Act.
3. Conyence Allowance is fixed Rs.800 by most of the companies because as per IT Act only Rs.800 exemption is allowaned.
Regards,
From India, Delhi
1. No, Allowances is not calculated on Basic or Gross Salary except HRA which is 50% of Basic.
2. Other Allowance is decided according to expemption in IT Act.
3. Conyence Allowance is fixed Rs.800 by most of the companies because as per IT Act only Rs.800 exemption is allowaned.
Regards,
From India, Delhi
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