Are PF , ESIC, PT & IT Deductions A Part Of Gross Salary? - Please Help - CiteHR
Jeevarathnam
Sr. Manager Hr/admin
Ritesh.vsp
Human Resources
Sethupathy-s
Legal, Training
Singh.Shweta
Human Resourse
+1 Other

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Dear Seniors,
What are the components of gross ? Are deductions from Employee's salary like PF,ESI,PT & IT taken as the components of gross ? Is 8.33 % for bonus calculated on basic or gross ?
Please answer these question as soon as possible.
Regards,
Shweta Singh

Dear Shweta,
yes,you are correct,but IT would be always an external and variable factor that we never consider in gross salary rest all the factors are included like your bonus,PT,PF AND ESIC.
BONUS WOULD BE CALCULATED ON GROSS SALARY,EX:If your gross would be 10,000/- then if you divide it by 12,the figure comes to same i.e 8.33%.
Regards,
Ritesh Sinha
HR Manager
Vijay Sales

Dear All, Bonus is calculated on Basic + DA only. S.Sethupathy, Excellent HR Services, Erode.
Hi Shwetha
PF & Bonus are calculated on Basic & DA.
ESI & PT are calculated on Gross
IT is calculated on Basic+DA & part of HRA and even some other components but it is not so easy. Need time to practice the same

Dear All,
Thanks...........for sharing this information.Can any one of you send me the salary break up,it will be very useful for me.Actually my organization is an Ngo,and here employees salaries are under the slab of tax,because of that there is no need of deduction of IT.I want to know IT deduction,means what are the components in salary are taken under consideration while "IT DEDUCTION".
Awaiting for your valuable replies.
Regards,
Shweta Singh

Dear Shweta,
Now there is no Tax till 2,00,000/- for male & female (Not following Sr. Citizen). Tax is applicable chart is attached for your reference. Tax is applicable on total earning ( All Components of the salary) of an employee not on gross salary only.
Regards,


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File Type: xls Tax Slab - 12 - 13.xls (24.5 KB, 236 views)

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