Dear Linkedin Memeber,
If an employee monthly CTC is Rs. 20000.
Compensation Package Offered :
Sr. No Head Amount
(Monthly)
1 Basic Salary 10000
2 Housing Rent Allowance- 40% of Basic 4000
3 Transportation Allowance 1500
4 Medical Allownace 200
5 Special Allowance 2520
Gross Salary 19220
6 P.F (12% on Maximum 6500)-Employer's Cont 780
CTC (Cost To Company) 20000
In that case if employee is willing to contribute in PF so from 12% of 10000 will be deducted from employee part and he/she will get 18020 Rs take home.
If there is a provision in the company for those employee whose basic+da is more than 6500, they can fill declaration form at the time of joining and save their themselves from deduction.
Q.1 Is that employee is eligible to get 20000 take home from the very first month salary or not ?
If an employee monthly CTC is Rs. 20000.
Compensation Package Offered :
Sr. No Head Amount
(Monthly)
1 Basic Salary 10000
2 Housing Rent Allowance- 40% of Basic 4000
3 Transportation Allowance 1500
4 Medical Allownace 200
5 Special Allowance 2520
Gross Salary 19220
6 P.F (12% on Maximum 6500)-Employer's Cont 780
CTC (Cost To Company) 20000
In that case if employee is willing to contribute in PF so from 12% of 10000 will be deducted from employee part and he/she will get 18020 Rs take home.
If there is a provision in the company for those employee whose basic+da is more than 6500, they can fill declaration form at the time of joining and save their themselves from deduction.
Q.1 Is that employee is eligible to get 20000 take home from the very first month salary or not ?