hi friends, Can u explain me detailly about,for calculating a salary for an employee
From India, Madras
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From India, Madras
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Hi Rohini,
The contents of the salary breakup may be as below. You can prepare it according to your own suitability. HRA would be 50% or 60% of the basic salary.
- Basic
- HRA
- CCA - 825/- is exempted from tax
- Other Allowance
- Mobile Reimbursement
- Medical Reimbursement of 1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum = 12 * Gross/Month
PF Contribution = 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to employees not covered under ESI, as the maximum ceiling for ESI is 10000/Month. Amounts exceeding this will be covered under Mediclaim or as per company policy.
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost = Gross/Annum + Ex-gratia
Annual Total Cost = AFGC + PF + ESIC
Annual total cost is also known as CTC.
In addition to this, Food coupons, Holiday packages, and Furnishing items are included in their CTC.
I hope this information helps to clarify your queries to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
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508The contents of the salary breakup may be as below. You can prepare it according to your own suitability. HRA would be 50% or 60% of the basic salary.
- Basic
- HRA
- CCA - 825/- is exempted from tax
- Other Allowance
- Mobile Reimbursement
- Medical Reimbursement of 1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum = 12 * Gross/Month
PF Contribution = 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to employees not covered under ESI, as the maximum ceiling for ESI is 10000/Month. Amounts exceeding this will be covered under Mediclaim or as per company policy.
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost = Gross/Annum + Ex-gratia
Annual Total Cost = AFGC + PF + ESIC
Annual total cost is also known as CTC.
In addition to this, Food coupons, Holiday packages, and Furnishing items are included in their CTC.
I hope this information helps to clarify your queries to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
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SALARY SHEET CALCULATION.xls
Salary calculation.doc
Salary & Compensation Guidelines.zip