Salary Slip Preparation for 3 Lakh CTC with PF: How Do You Do It?

Please advise how to prepare a salary slip for a 3 lakh CTC including PF.

Salary Head Amt Basic 11650 HRA 6990 Conveyance 2330 Education 2330 Gross Salary 23300

Yearly Gross 279600 Exgratia 8000 PF Employer 16776 Mediclaim 1125 CTC Amount 305501

Please find below the detailed breakdown of the salary components:

- Basic: $11,650
- HRA: $6,990
- Conveyance: $2,330
- Education: $2,330
- Gross Salary: $23,300

Yearly Gross: $279,600
Exgratia: $8,000
PF Employer Contribution: $16,776
Mediclaim: $1,125
CTC Amount: $305,501

If you need any further clarification or information, feel free to reach out.

Salary slip for 3 Lac CTC.

BASIC - 12500
HRA - 6250 (50% OF BASIC)
MEDICAL - 1250
TRANSPORT ALLOW - 800
OTHER ALLOWANCE - 2378

(A) GROSS SALARY = TOTAL (Of the Above) = 23178
(B) NET SALARY = GROSS - EMPLOYEE PF CONTRIBUTION - 23178 - 780 = 22398
EMPLOYER PF CONTRIBUTION - 780
BONUS - 1042 (BASIC / 12)

TOTAL CTC = (A) + EMPLOYER PF CONTRIBUTION + BONUS = 23178 + 780 + 1042 = 25000

Basic: 10000
HRA: 4000
Education: 200
Conveyance: 800
Special Allowance: 5952
Medical/ESI (As applicable): 833
LTA: 833
Provident Fund at 12% of Basic Salary: 1200
Gratuity at 4.81% of Basic Salary: 481
"Bonus at 20% of Basic Salary (Basic Salary Max of 3500/p.m.)": 700
Cost to the Company (Amount in Rs.): 25000

It all depends on what your company has to pay as statutory benefits to the employees and what other perks the company provides to employees. Just divide the total (Rs. 4.00 lac in this case) by 12. That's the monthly emoluments. Work out the rate of DA/HRA/other perks.

Now, deduct the statutory liabilities, such as EPF/ESI/bonus/gratuity, from the remaining amount at a monthly rate. There is no set formula. Simply follow the company's convention.

Hi,

It actually depends on how the company wants to provide the same. It can be with PF or without PF, depending on the size of the firm. With PF, the breakup has already been given; without PF, it can be as follows: -

Basic: 10,000
HRA: 4,000
Other Allowances: 11,000
Monthly Gross: 25,000
Final CTC: 3,00,000

Please feel free to revert in case of any clarifications.

Regards,
Vyakhya

Hi Vyakhya,

Thanks for the info. It would be great if you could provide a breakup of 3 lakhs CTC on an Excel sheet showing yearly and monthly salary. I request you to include only basic, HRA, conveyance, special allowance, and deduct only PF and professional tax.

Thanks a ton in advance. Waiting for a reply.

Hello sir,

I would like to request the salary breakdown for a monthly amount of 22,000, after the deduction of professional tax and any other applicable taxes. I would greatly appreciate it if you could explain to me how to calculate and deduct the taxes and other deductions from the gross salary.

I am eagerly awaiting your response. Thank you and regards.

Please share how I should calculate the gross monthly breakup for a CTC of 3.6 lakhs. What will be the net salary offered to the employee?

Please share how I should calculate the gross monthly breakup for a CTC of 3.7 lakhs. Also, what will be the net salary offered to the employee?