Dear All,
Our salary is divided in two heads, Basic Salary and Travel Allowance (Rs. 500/- fixed for everybody). We also deduct Professional Tax from the Salary.
Now my question is the following the right way to calculate salary?
Suppose Mr. X's salary is Rs. 9000/- per month i.e. Rs. 8500/- basic + Rs. 500/- Travel All.). He was on LWP for 2 days.
Earned salary = (8500/30)*28 = Rs. 7933/-
Travel Allowance = Rs. 500/-
Gross Salary = Rs. 8433/-
Deduction:
Professional Tax = Rs. 150/- (because salary is Rs. 9000)
Net Salary = Rs. 8283/-.
Our salary is divided in two heads, Basic Salary and Travel Allowance (Rs. 500/- fixed for everybody). We also deduct Professional Tax from the Salary.
Now my question is the following the right way to calculate salary?
Suppose Mr. X's salary is Rs. 9000/- per month i.e. Rs. 8500/- basic + Rs. 500/- Travel All.). He was on LWP for 2 days.
Earned salary = (8500/30)*28 = Rs. 7933/-
Travel Allowance = Rs. 500/-
Gross Salary = Rs. 8433/-
Deduction:
Professional Tax = Rs. 150/- (because salary is Rs. 9000)
Net Salary = Rs. 8283/-.