Sr. Manager Hr/admin
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%.
4th April 2011 From India, Mumbai
6th April 2011 From India, Selam
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.
10th April 2011 From India, Hyderabad
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.
12th December 2012 From India, Delhi