This is all depends on the company policy.
As I am sharing you my company practice hope that may help you.
BASIC - 50% OF CTC
HRA - 50% OF Basic
TA - 1600 MAX
MEDICAL - 1250
LTA - 8.33% OF BASIC
BONUS - 8.33% OF BASIC
C.E.A. - 200
SPACIAL ALLOWANCE - BALANCE FIGURE
6th October 2016 From India, Alwar
Gross Pay is the sum of Basic pay + Allowances.
Net Pay is the difference between Gross Pay (Deductions + Total TDS). Total TDS is the sum of TDS, Surcharge, Health & Education Cess.
The amount received as the HRA from the employer. Actual rent paid less 10% of the basic salary and 50% of the basic salary if staying in a metro city and 40% in a non-metro city.
Basic Pay is 50% of Gross salary (Gross * 0.5).
Deductions are the sum of PF, ESI, and PT etc.
TDS is calculated on (Basic + Allowances Deductions) * 12 (IT Declarations + Standard deductions)
PF deduction(Provident Fund) is 12% of Basic or 15,000, which ever is lower
ESI is 0.75% of Gross Pay or 21,000, whichever is lower
Standard deductions (50,000)
Know more at: www.sumopayroll.com
4th September 2019 From India