How To Calculate Salary Package As Attached - Please Help

hello seniors
This is ruban completed MSW and searching for a job. I attended one interview and they told me to prepare ctc for 300000rs P.A and the basic want to be 7000Rs. My doubt is in CTC calculation we should consider employee and employer contribution IN CTC and is the percentage for D.A. I attached a CTC i calculated pls go through it and give me idea so that i can rectify my mistake. waiting for your reply and your valuable reply will change .

Dear Ruban,
All You have done is correct, but the Spl. allowance you have fixed is very high.
You can add Bonus, LTA, Gratuity and any other components paid to the employee in his CTC.
S.Sethupathy,
Excellent HR Services,
Erode.

Since CTC is cost to the company. Hence employer is interested in knowing the a person appointed at basic salary of Rs.7000/- shall cost him " x" amount. The amounts need to be devided in such a way that the employee should also get some relief in Income Tax.
BASIC 7000, HRA (40- 50% OF BASIC),Conv.(uptpo 15%-20% of basic),MDCL (ok),Periodicals and Magzines( 500/-), Special allowance (60%of basic), entertainment allowance/ inconvenience allowance(@ 15% of basic)
to above add. Employer's contribution to PF (13.61%),bONUS (20% of basic),Gratuity (4.81%of basic), LTA (Equivalent to 2 times of monthly basic), Insurance Premium against mediclaim/accident policy( 6%of basic)[since medical allowance will only take care of regular ailment and not expenses on account of accident(if any)
delete Employees contribution and Professional tax ( as these are not paid by employer) In fact these are deducted from Employee's salary.

hello senior;
senior thanks for your reply and i got overall idea about ctc........ in CTC we should mention only the employers contribution toward employee......... in monthly salary only we should deduct employees contribution. In employers pf contribution the ceiling amount is write or wrong or else we should calculate from the basic.... In what percentage we should calculate D.A...
Thanks and Regards
Ruban Kumar.R

hello seniors :
my doubts is in ctc we should deduct employee 12% or else employer contribution 13.61%.... Pls can u give me a percentage for calculating D.A
thanks and regards
Ruban

Dear Ruban
Employer PF is not taken into account while calculating ctc and D.A depends on th inflation rate and mostly govt organisations give it.
Regards
Asma

If I am having a CTC of Rs.8lac pa. any tax expert can tell me any way to save a tax apart from 80c, HRA, PT, Mediclaim & Loan interest rate????

Subject - Re: How to calculate Salary Package as attached - Please help

Since CTC is cost to the company. Hence employer is interested in knowing the a person appointed at basic salary of Rs.7000/- shall cost him " x" amount. The amounts need to be devided in such a way that the employee should also get some relief in Income Tax.

BASIC 7000, HRA (40- 50% OF BASIC),Conv.(uptpo 15%-20% of basic),MDCL (ok),Periodicals and Magzines( 500/-), Special allowance (60%of basic), entertainment allowance/ inconvenience allowance(@ 15% of basic)

to above add. Employer's contribution to PF (13.61%),bONUS (20% of basic),Gratuity (4.81%of basic), LTA (Equivalent to 2 times of monthly basic), Insurance Premium against mediclaim/accident policy( 6%of basic)[since medical allowance will only take care of regular ailment and not expenses on account of accident(if any)

delete Employees contribution and Professional tax ( as these are not paid by employer) In fact these are deducted from Employee's salary.

Dear Asma,
i would like to tell you in this regard i.e. CTC it means company to cost in other words whatever expenses company paid to employee so in which concept PF,Esi, Gratuity,Bonus all parameters comes under it becoz company paid it all.
when u r going to fix basic amount that time you have to taken into consideration minimum wages becoz it (Basic) should not be less than it. so you have to fix some percentage.and as on basis of my experience & knowledge HRA calculation should be 5 %.on basic(As GOVT.Rule)
Under CTC Employee deduction is not taken bocoz it is a second part after joining.
Thanks & Regards,
Sharad,
Executive HR & Admin.
MNC

hi dear members
i saw attach CTC sheet but as suggested by Punkaj ji i calculted the sheet but answer are diffrent ...kindly hel[ me to calculate in right manner ...thanx in advance
regards
sarika