Dinesh Divekar

Business Mentor, Consultant And Trainer

Umakanthan53

Labour Law & Hr Consultant

Madhu.T.K

Seasoned Ir Professional

Vmlakshminarayanan

Sr.manager - Hr&admin

KK

KK!HR

Management Consultancy

Saswatabanerjee

Partner - Risk Management

Drsivaglobalhr

Doctor Siva Global Hr

Nanu1953

Ceo-usd Hr Solutions

AU

Aussiejohn

Workplace Assessment And Training

Rkn61

Sr. Hr Manager

NV

Nagarkar Vinayak L

Hr And Employee Relations Consultant

Alok-singh1

Labour Law & Ir.

NA

Nathrao

Insolvency N Gst Professional

Kumaracme

Hr Manager, A Leading Manufacturing Company

Srivastavacmlal

Master Consultant

Pan Singh Dangwal

Joint Manager

NK SUNDARAM

International Corporate Trainer / Hr (od) Consultant

R.N.Khola

Labour Laws & Ir

Bijay_majumdar

Freelancer In Hr &indirect Taxes For Services Indusrty.

Jeevarathnam

Sr Manager Hr & Compliances

Pvenu1953@gmail.com

Retired Government Servant/advocate

Ommygautam

Plant Hr Head

GL

Glidor

Hr Consultant

Loginmiraclelogistics

Asso.prof.(commerce & Management)

Suresh2511

Labour Consultant

SU

Sudhapradheep

Sr. Executive-hr

Ram K Navaratna

Hr Consultancy

GK

Gkmallik

Genarel Manager -hr

DI

Dixit

Director

AD

Anil Dubey

Accounts

DA

DD Ad

Executive

AR

Ab.Rahman

Hr Professional

PK

Praveen Krmar

Hr & Compliance

SH

Shazzu

Engineer

AM

Amrishjassi

It Support

K2

Karunagaran 2023

Hr Senior Executive


Anonymous
I have joined a company where they have offered me CTC 3,77,400/-

with the following bifurcations.

1 Basic Salary 15,550/-

2 HRA 7,775/-

3 Medical allowance 1,250/-

4 Conveyance 1,600/-

5 Transport allowance 1,200/-

6 Food allowance 1,150/-

7 Other allowance 2,925/-

-----------------------------------------------------------------------

Take home salary 31250 with the only deduction of PT 200.

Please do tell me is it correct also they dont have the option for PF as they told that Basic salary above 15000/- has the option to Opt- out PF/ also they dont have any gratuity deduction.

Would also like to ask is conveyance allowance and Transport allowance different ?

Please do help me out.

Regards,

From India, Mumbai
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Saravanan_d_
Senior Manager - Statutory Compliance

rohan.g.shinde
I have joined a company where they have offered me CTC 3,77,400/-

with the following bifurcations.

1 Basic Salary 15,550/-

2 HRA 7,775/-

3 Medical allowance 1,250/-

4 Conveyance 1,600/-

5 Transport allowance 1,200/-

6 Food allowance 1,150/-

7 Other allowance 2,925/-

-----------------------------------------------------------------------

Take home salary 31250 with the only deduction of PT 200.

Please do tell me is it correct also they dont have the option for PF as they told that Basic salary above 15000/- has the option to Opt- out PF/ also they dont have any gratuity deduction.

Would also like to ask is conveyance allowance and Transport allowance different ?

Please do help me out.

Regards,

Today From India, Mumbai

From India, Mumbai
saravanan_d_
100

1. Regarding PF: The Opting Out Facility is only available if the employee is not a member of PF in his/her previous organization. If you already have PF and you have not withdrawn it, you can't opt out from PF even if you get salary more than Rs. 15,000. For that, they should get written confirmation from you stating that you are not a previous member of PF and you are willing to Opting Out. If this doesn't happen and the employer is simply doing this practice only to evade PF contribution, then it is an offense and during PF inspection, it will be penalized.
2. As per Income Tax Act, Both Conveyance and Transport Allowance has same meaning. As per IT Act, Maximum amount of Conveyance/Transport Allowance exempted is Rs. 1,600 per month.

From India, Chennai
If You Are Knowledgeable About Any Fact, Resource or Experience Related to This Topic and Want to Be Part of our support system - Please Register and Log In to CiteHR.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2023 CiteHRŽ

All Material Copyright And Trademarks in Posts Held By Respective Owners.
Members Notified Via CiteMailer.Com