25th March 2014 From India, Suryapet
BALANCE SALARY PORTION AS YOU WISH. IN SOME STATE HRA IS ALSO APPLICABLE WITH CERTAIN CONDITIONS. HENCE WHILE SETTING UP SALARY STRUCTURE YOU NEEDS TO OBTAIN PROPER LEGAL INFORMATION / TAKE PROPER CONSULTATION.
27th March 2014 From India, Pune
Greetings for the day,
The component for the salary bifurcation should be like this ;
Basic salary- 50%-60% of the gross salary (but not less than the minimum wages of the state)
HRA-40%-50% of the basic salary
Cony- Rs. 800/- more than that should be taxable
Med. Allow.- Rs.1250/- more than that should be taxable
Otr. Allowance- Rest should be put under this category.
Thanks & Regards,
Sumit Kumar Saxena
27th March 2014 From India, Ghaziabad