Dear all, Can anyone help me how to calculate this structure with formulas BASIC HRA CONVEYANCE SPL ALL. LTA MED ALL EX-GRATIA GRATUITY thanks, Dhana
From India, Chennai
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5From India, Chennai
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Please kindly calculate using the following formula:
Salary Components Calculation
- **Basic:** 50% of CTC
- **HRA:** 20% of Basic
- **Conveyance Allowance:** 2%
- **Education Allowance:** 2%
- **PFP:** 20% of CTC
- **Medical & Others:** As per your company's convenience.
Regards,
From India, Ahmadabad
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Salary Components Calculation
- **Basic:** 50% of CTC
- **HRA:** 20% of Basic
- **Conveyance Allowance:** 2%
- **Education Allowance:** 2%
- **PFP:** 20% of CTC
- **Medical & Others:** As per your company's convenience.
Regards,
From India, Ahmadabad
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Hi Please find the attached working which may help you.... Regards Karthik
From India, Vijayawada
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From India, Vijayawada
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Surely, I'll explain it to you. Just read the following example:
Example of Salary Calculation
Suppose a person has a monthly income of 10,000. Then we can calculate his net salary as follows:
- Basic: 5000 (50% of CTC)
- HRA: 1000 (20% of Basic)
- Conveyance Allowance: 100 (2% of Basic)
- Education Allowance: 100 (2% of Basic)
- PFP: 1927 (20% of CTC - Flexible)
- Medical: 200
- Other: 500
So, the employee's in-hand amount will be Rs. 8827. Other deductions are as follows:
- PF: 12% of Basic
- ESI: 1.75% of Gross
- Bonus: 8.33% of Basic
I hope this explanation helps. Let me know if you have any questions.
From India, Ahmadabad
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Example of Salary Calculation
Suppose a person has a monthly income of 10,000. Then we can calculate his net salary as follows:
- Basic: 5000 (50% of CTC)
- HRA: 1000 (20% of Basic)
- Conveyance Allowance: 100 (2% of Basic)
- Education Allowance: 100 (2% of Basic)
- PFP: 1927 (20% of CTC - Flexible)
- Medical: 200
- Other: 500
So, the employee's in-hand amount will be Rs. 8827. Other deductions are as follows:
- PF: 12% of Basic
- ESI: 1.75% of Gross
- Bonus: 8.33% of Basic
I hope this explanation helps. Let me know if you have any questions.
From India, Ahmadabad
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Thank you for the payslip attachment. Could you please explain how you calculated the special and other allowances? Also, I am curious about how you arrived at Rs. 200 for the medi-claim.
Gratuity Calculation
Regarding gratuity, do we need to consider 4.87% of the basic salary?
Employer Contribution to PF
For the employer contribution, is the PF 12% calculated at 13.61% of the basic salary?
I would appreciate it if you could clarify these points for me.
Thank you,
Dhana
From India, Chennai
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Gratuity Calculation
Regarding gratuity, do we need to consider 4.87% of the basic salary?
Employer Contribution to PF
For the employer contribution, is the PF 12% calculated at 13.61% of the basic salary?
I would appreciate it if you could clarify these points for me.
Thank you,
Dhana
From India, Chennai
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Mediclaim Costs
Mediclaim is on average $200 per month if it is an individual policy with $100,000 insurance coverage.
Gratuity Error
Gratuity - sorry, there was an error.
Gross Salary Calculation
Deduct from the proposed gross to get the exact gross because Conveyance $800 and Medical Reimbursement $1250 are completely non-taxable, so we have to include these components.
Tax Calculations
For tax calculations, the House Rent Allowance (HRA) will be considered at 40% of the Basic salary.
Please find the attached...
From India, Vijayawada
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Mediclaim is on average $200 per month if it is an individual policy with $100,000 insurance coverage.
Gratuity Error
Gratuity - sorry, there was an error.
Gross Salary Calculation
Deduct from the proposed gross to get the exact gross because Conveyance $800 and Medical Reimbursement $1250 are completely non-taxable, so we have to include these components.
Tax Calculations
For tax calculations, the House Rent Allowance (HRA) will be considered at 40% of the Basic salary.
Please find the attached...
From India, Vijayawada
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SALARY SHEET CALCULATION.xls
Salary calculation.doc