Dear Sumit,
As per the figures given above, the extra deduction of Rs. 1769/- seems to be OK, coz the employer contribution of Rs. 1769/- is part of ur CTC. One deduction is made for ur contribution and the another is made to match ur CTC. Now considerable point is that on what negotation u were appointed. U can ask ur HR dept. to submit ur CTC in phases as per below:-
A. Monthly
1 Basic
2 HRA
3 Conveyance
4 Special Pay
5 Medical Allowance
Total
B. Re-imbursement
6 LTA
C. Retirement Benefits
7 PF (12%)
8 Gratuity
D. Fixed Cost to Company
Moreover ur IT also seems to be little bit on higher side. As per my calculation ur IT should be:-
(A) Total CTC = 450000
(B) Less: Various deductions/benetifs etc.
1 Tax Free Limit = 250000
2 Conveyance = 19200
3 Medical Allow. = 15000
4 Deductions 80C = 150000
(u have to submit proof of saving under this head)
Total Deductions (B) = 434000
Taxable Income (C) (A-B) = 16000 (Tax @ 10%= 1600 for whole year)
In addition to the above u can Save under HRA, that depends upon ur residence status (consult with ur HR/Payroll).
As per the figures given above, the extra deduction of Rs. 1769/- seems to be OK, coz the employer contribution of Rs. 1769/- is part of ur CTC. One deduction is made for ur contribution and the another is made to match ur CTC. Now considerable point is that on what negotation u were appointed. U can ask ur HR dept. to submit ur CTC in phases as per below:-
A. Monthly
1 Basic
2 HRA
3 Conveyance
4 Special Pay
5 Medical Allowance
Total
B. Re-imbursement
6 LTA
C. Retirement Benefits
7 PF (12%)
8 Gratuity
D. Fixed Cost to Company
Moreover ur IT also seems to be little bit on higher side. As per my calculation ur IT should be:-
(A) Total CTC = 450000
(B) Less: Various deductions/benetifs etc.
1 Tax Free Limit = 250000
2 Conveyance = 19200
3 Medical Allow. = 15000
4 Deductions 80C = 150000
(u have to submit proof of saving under this head)
Total Deductions (B) = 434000
Taxable Income (C) (A-B) = 16000 (Tax @ 10%= 1600 for whole year)
In addition to the above u can Save under HRA, that depends upon ur residence status (consult with ur HR/Payroll).