I need to know if there is a formula to break CTC . In the following example I tried to break CTC of Rs.10000.00 however I don’t het the desired results. I could definitely adjust the remaining Rs.173.8 in the other allowances however is right way to do it? All of your help would be highly appreciated.
CTC= 10000
Gross Assumption: 9000
Proposed breakup
Basic @50% of Gross = Rs 4500.00
HRA @ 50% of Basic = Rs. 2250.00
Conveyance = Rs. 800.00
Education Allowance = Rs. 200.00
others = Rs. 1250.00
Monthly Gross = Rs.9000
Employer Liabilities
P.F. @13.61% of basic = Rs.612.45
ESI @4.75 % of basic = Rs213.75
CTC= Gross+ Liabilities
=9000+612.45+213.75= Rs.9826.2
CTC= 10000
Gross Assumption: 9000
Proposed breakup
Basic @50% of Gross = Rs 4500.00
HRA @ 50% of Basic = Rs. 2250.00
Conveyance = Rs. 800.00
Education Allowance = Rs. 200.00
others = Rs. 1250.00
Monthly Gross = Rs.9000
Employer Liabilities
P.F. @13.61% of basic = Rs.612.45
ESI @4.75 % of basic = Rs213.75
CTC= Gross+ Liabilities
=9000+612.45+213.75= Rs.9826.2