HRA is always deducted from basic salary, its % of deduction depends upon company policy it can be either 30%,40% of basic salary. and PF deduction is 12% of basic salary from both employee and employers part.
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Basic 40% of CTC
HRA 40% of Basic
LTA can be kept in multiples of 500 upto 5000
Washing Allowance Rs.400
Children Education Allowance Rs.250
These are some basic allowance which are given as per IT Slabs
I want to know about HRA calculation for salary break up.
How much % is HRA of Basic or Gross?
Is minimum wages includes Basic+HRA in Delhi & Punjab?
As per new judgement of supreme court PF is calculated on Basic + DA+ Other fix per month Allowances. If some one drawing gross salary of 50000/- pm with the break up of Punjab Shop & Establishment employees Basic: 10800, HRA 7500(15% of Gross), VMA: 5000 & Other Allowances:26700/- then PF is deducted on maximum limit of Rs.15000/- or on Rs.42500/- please suggest?
Because as per me the same should be deducted on 15000/-