No Tags Found!

kg11
Hellow Seniors,
I am a fresher !
Please help me understanding the below mentioned salary break up & CTC of my job.
Basic Salary 8600.00
House Rent Allowance 3950.00
Conveyance Allowance 1980.00
Uniform Allowances 0.00
CCA 1970.00
Entertainment Allowance 0.00
Leave Travel Allowance 0.00
Medical Allowance 0.00
Total Salary per month 16500.00
After PF deductions , In Hand Salary (as per pay slip) is 15,500
annual cost to the company (CTC) of Rs.237650
Total salary does not match up with CTC . Why ???
If I subtract ( total sal )16,500 x 12months = 1,98,000 from ( CTC ) .237650 , then the balance comes out as = 39,650
so where the amount 39,650 is going ??? Am i getting it ?
Thanku

From India, New Delhi
pallavi sakharkar
3

Hi,
Your salary break should contain all the components and total should be equal to the CTC mentioned.
If your organization is giving you PF or other bonus then it should be mentioned in the pay slip and you should have given PF number.
You have right to ask about remaining amount. Sometime company has a component that they give at the end of the year. Please see in your pay slip.
Further, you have mentioned Medical Allowance. As per rules a year 15000 is given to an employee and the employee has to submit the medical bills for Rs. 15000 at the end of financial year to get the income tax relaxation of 1500. the policy is either this 15000 is given in every month i.e 15000/12 = 1250 or can be given in the salary of March in the form of full amount.
I just want you to understand that you should go and clarify this with the HR person immediately.
In case any queries write to me on
Thanks

From India, Pune
P.Agrawal
17

if the company is showing CTC then you should ask the break up. They will provide you. Because the CTC calculation can vary from company to company, hence it is important that your company should give you the break up.
From India, Delhi
ShikhaSriHR
Hi,
As per details given by you, your PF should be around Rs 1032 (12% of basic). In that case your net in hand should be exactly Rs 15,468 per month. But your net in hand is 15,500.
Kindly clarify how much %age of basic is deducted from your salary or what is the amount of PF deduction on your Payslip?
HR Team Member

From India, New Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.