Comp & Ben Manager
Sap Hr Consultant
4th June 2008 From India, Mumbai
1 gratuity while including in the CTC can be valued @4.81% of basic salary provided by you,as per policy of you comapny or as per govy min payment is X*15 days/26 days ex 10000 is last drawn basic salary hence if you value it @4.81% it will be 481. if you do it 10000*15/26 it will also be 481 hence value gratuity @4.81 % of your basic salary and added it up in your CTC.
Regarding the PF query please find my ans in blod in the attachment.
5th June 2008 From India, Bangalore
Answer provided is correct in Excel but certain components cannot be Non taxable s you need to study IT act salary pert.
like LTA the period as described by it act 2006-2009 calender years i.e one can claim it benefit for any two years in block of 4 years .
Secondly pertol attract FBT which is 7% tax .
Thirdly Gratuity is tax free to the extend of 3.5 lacs only
One need to under stand the heads in regards to income tax provisions.
8th June 2008 From India, Madras
10th June 2008 From India, Mumbai
19th June 2008 From India, Pune