+2 Others
Dear HR Fraternity,
I would like to ask that what is conveyance allowance actually means.
If salary is 16000 and conveyance is 4000 what does it means?
I had ask my HR for salary of 20000 PM and he has designed the salary structure like this.
16000 PM and 4000 conveyance allowance.How much I will get ?
From India, New Delhi
I would like to ask that what is conveyance allowance actually means.
If salary is 16000 and conveyance is 4000 what does it means?
I had ask my HR for salary of 20000 PM and he has designed the salary structure like this.
16000 PM and 4000 conveyance allowance.How much I will get ?
From India, New Delhi
Sorry, but you all are giving a wrong answer.....
The limit of conveyance allowance of Rs. 800 per month is only for the purpose of tax free perquisites under income tax act. Nothing in any law prevents the employer from giving any amount as conveyance allowance. Its just that the balance will be a part of taxable salary.
I think in this case, the company is giving a basic pay of Rs. 16,000 per month and a Conveyance Allowance of Rs. 4000 per month. if it is actually conveyance allowance (not reimbursement), then you will get the entire amount every month.
However, i do not understand the justification of giving such a breakup.
From India, Mumbai
The limit of conveyance allowance of Rs. 800 per month is only for the purpose of tax free perquisites under income tax act. Nothing in any law prevents the employer from giving any amount as conveyance allowance. Its just that the balance will be a part of taxable salary.
I think in this case, the company is giving a basic pay of Rs. 16,000 per month and a Conveyance Allowance of Rs. 4000 per month. if it is actually conveyance allowance (not reimbursement), then you will get the entire amount every month.
However, i do not understand the justification of giving such a breakup.
From India, Mumbai
Salary breakup depends on company policy and it varies company to company. in the above case they can give conveyance allowance as Rs. 4000 no issues but if we talk about Tax Exemption then he/she will get the Exemption maximum up to Rs.800/- per month (RS. 9600 pa). No proof required.
From India, Kota
From India, Kota
Dear Sir,
The Fixation of pay and its bifurcation into components is at the sole discretion of the management. According to their policy, they will fix.
No matter to worry.
D.Gurumurthy
HR & IR Consultant
Hyderabad.
From India, Hyderabad
The Fixation of pay and its bifurcation into components is at the sole discretion of the management. According to their policy, they will fix.
No matter to worry.
D.Gurumurthy
HR & IR Consultant
Hyderabad.
From India, Hyderabad
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#Subject List: tax exemption salary breakup company policy esic applicability income tax act income tax salary structure Country-India City-India-New-Delhi
ESI-Not-applica ble-on-Conveyan ce-Allowance.do c
Revision in conveyance allowance in Maharashtra from 1.10.2013.pdf
