Dear friends, please help me understand the salary breakup and the deduction calculation of the given salary at this company located in Gurgaon.
Salary Details
CTC Annual: 276,000.00
CTC Monthly: 23,000.00
Basic: 12,934.00
HRA: 6,467.00
Conveyance: 800.00
Gross: 20,201.00
Medical: 539.00
LTA: 538.00
PF: 1,552.00
Mediclaim: 170.00
CTC (PM): 23,000.00
After considering the impact of statutory deductions, the in-hand amount would be Rs. 19,727/- per month.
I am struggling to calculate how the employee will receive 19,727/-. I have tried to do the calculation multiple times but have not succeeded.
Please provide a quick response.
Thanks and Regards,
Nazish
From India, Calcutta
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Salary Details
CTC Annual: 276,000.00
CTC Monthly: 23,000.00
Basic: 12,934.00
HRA: 6,467.00
Conveyance: 800.00
Gross: 20,201.00
Medical: 539.00
LTA: 538.00
PF: 1,552.00
Mediclaim: 170.00
CTC (PM): 23,000.00
After considering the impact of statutory deductions, the in-hand amount would be Rs. 19,727/- per month.
I am struggling to calculate how the employee will receive 19,727/-. I have tried to do the calculation multiple times but have not succeeded.
Please provide a quick response.
Thanks and Regards,
Nazish
From India, Calcutta
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As per your input provided, the take-home salary would be Rs 18,649.00 (Basic + HRA + Conv = Gross - PF = Net Take-home, 18649.00). However, what they did was to calculate the take-home salary as Rs 19,727.00 (Basic + HRA + Conv + Medical + LTA = Gross - PF = Net Take-home, 19727.00). Medical amounting to Rs 539 and LTA amounting to Rs 538 were taken into account for the monthly payout.
Thank you.
From India, Madras
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19Thank you.
From India, Madras
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What Krishna said is correct, It is a practice In many companies that they include Medical and LTA as Monthly components.
From United States, Ogden
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From United States, Ogden
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i agree with krishna. Mostly Many company give medical allowance of Rs. 1250/month along with the gross salary. LTA will be normally given annually.
From India, Mumbai
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From India, Mumbai
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Thank you for your valuable suggestion. Could you please do me a favor and assist me in creating a salary slip? I need it to be in a prescribed format with the following details: the monthly salary CTC will be ₹23,000.00, and the in-hand salary will be ₹19,727.00. I would appreciate your help with this.
Thank you,
Nazish Hasan
From India, Calcutta
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Thank you,
Nazish Hasan
From India, Calcutta
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SALARY SHEET CALCULATION.xls
Salary calculation.doc