Confused About Salary Breakup for Rs 1,459,999? Let's Clarify Together

Hi All, Please provide the salary breakup for Rs 1,459,999. I am a bit confused, so I would appreciate some clarification.

Regards, Amit Mishra [Phone Number Removed For Privacy Reasons]

The attached document will help. Just try to change your basic, HRA, or other components?

Hi Amit, the particulars of the CTC structure depend on the company policy and can vary. Without knowing that, it would be difficult to give you an accurate structure. However, some helpful individuals may still manage to assist you.  

Thank you very much! I apologize for not completing my question. I actually need to know how to calculate tax on a ₹1,459,999 annual package.

Regards

Hi Ashok, the salary breakup you attached has a formula error. How can an employee earning 1.2 lakh per month be eligible for ESIC? Please be careful when sharing the CTC format with others.

Regards, Meenakshi

It's commendable the assistance you provided to Mr. Amit Mishra, but in my opinion, there are some mistakes in the Excel attachment. Firstly, the travel allowance should be 10%, and ESIC is not deductible. Additionally, if an employee's salary exceeds ₹15,000 per month, TDS should be deducted from their salary on an average basis.

Regards,
Brajesh Kumar Sharma

Please find the CTC breakup. Hope this will help you all.

Regards,
Shiva

Your formula has one problem—no roundup value. Could you please provide the correct formula?

This is the Correct Formula in Excel:

=IF(GROSS>15000,0,ROUNDUP(GROSS*4.75%,0))

Regards,
Vishnu