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Hi Sonal, HRA For Metro 50% of Basic & Non -Metro like Ghaziabad (UP) 40% of Basic. On that basis I workout above calculation. Regards Sanjeev.
1. Basic Salary - Fully taxable.
2. PF Contribution (under section 80 C Limit upto 1 Lakh. ) - Fully Exempted
3. HRA (Under Section 10 (13 A) - (A) Actual HRA Received (B) 40 % (Non Metro) & 50 % (Metro) of basic (C) Rent Paid - (Minus) 10 % of Basic Salary, Whichever is less b/w A,B and C is exmpted.
4. Transport Allowances (Under Section 10 (14) - 800 pm (9600 pa) Exempted.

Sure Ms. Vini, any time you can pop up, I am available here to help you on any topic related to HR, Labour Law and Tax Management queries.
Dear vinni How could you deduct Rs 3060 as PF when there is only provision for Rs. 780 ? Biju
Hi Biju, Can you tell me how you calculated Rs.780? EPF Deduction is 12% of Basic Salary. So 12% of Rs.25496(Basic Salary) would be Rs. 3060 Only! :))) Vineeta
In furtherance to my thread, i have another query in this regard. >> what will be the tax deduction if no savings/investment is done?

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