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riya-oberoi
Can someone share the list of salary components and their percentage to CTC and Gross Salary? & What is the importance of various salary components in Payroll processing?
From India, Bhopal
jeevarathnam
636

As per the existing Act Basic & DA is mandatory, few states like Maharashtra & WB, Minimum HRA is Mandatory

HRA will allow in exemption of Income Tax
Splitting as other allowances will reduce the Basic wages & will reduce the over heads of the organisation. As per existing Act no % of Basic on the gross wages but very soon once the Wage Code is implemented then the scenario will change

From India, Bangalore
riya-oberoi
Dear Jeevarathnam, Thank you so much for your kind help. Warm Regards, Riya
From India, Bhopal
Ravi BG
Salary Components are Basic, DA, HRA, Convenience, Medical Allowance, Special Allowance, Mobile Allowance, Etc
If Equal of minimum wages that time full amount put on In Basic + DA,
If Higher Wages that Time
Basic + DA - 50% of CTC
HRA - 50 % of Basic + DA (Delhi, Chenni, Mumbai) other Places 40 %(Depends on Zone wise as per Minimum Wages Notification)
Convenience -1600
Medical Allowance - 1250 (Out of ESI)
Special Allowance - Reaming Amount u can put in this.

From India, Bengaluru
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