Understanding Salary Slip Breakup
I have attached a salary slip to this discussion. I would like to know how the salary breakup is done. I want to analyze the salary slip. Please help me understand this salary slip.
Thanks,
Mohammed Shafi
From India, Bangalore
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I have attached a salary slip to this discussion. I would like to know how the salary breakup is done. I want to analyze the salary slip. Please help me understand this salary slip.
Thanks,
Mohammed Shafi
From India, Bangalore
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please help to understand this salary structure.. thanks in advance
From India, Bangalore
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From India, Bangalore
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Please refer to this document. I think this will help you understand.
Part A - Gross
- Basic mandatory head (40% of Gross for non-metro city & 50% for metro city) or as per minimum wage act.
- HRA mandatory head (minimum 5% - 275 of basic).
- Transport Allowance - 800/- monthly - Optional (maximum tax-exempted amount under this head).
- Medical Allowance (as per company policy) - 1250/monthly - Optional (maximum tax-exempted amount under this head).
- Child Allowance (maximum 2 children) - 100/- each for non-hostile or 300/- each for hostel - monthly.
- Food Allowance (as per company policy) - 1500/- monthly - Optional (maximum tax-exempted amount under this head).
Total of A - Gross = Total of A.
Part B - LTA
- As per company policy - Optional - amount according to Company policy.
- Bonus as per Act - Optional - According to Company policy.
Total Of B.
Employer Contribution, Part C
- EPF 13.61% of Basic (in some organizations - 13.61% on ceiling amount i.e., 6500/- = 780/-).
- ESI = 4.75% on gross (applicable only if gross is less than 15000/-).
Total Of C.
CTC per annum (A+B+C)
- (A+B+C).
Employee Deduction
- PF 12% of Basic (in some organizations - 12% on ceiling amount i.e., 6500/- = 780/-).
- ESI = 1.75% on gross (applicable only if gross is less than 15000/-).
- Income Tax as per TDS act.
- Professional Tax - IF(D15<=5000, 0, IF(D15<=10000, 175, 200)).
Total Deductions.
Net Take Home
- (A - Deductions) - Net Take Home (A - Deductions).
From India, Pune
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2Part A - Gross
- Basic mandatory head (40% of Gross for non-metro city & 50% for metro city) or as per minimum wage act.
- HRA mandatory head (minimum 5% - 275 of basic).
- Transport Allowance - 800/- monthly - Optional (maximum tax-exempted amount under this head).
- Medical Allowance (as per company policy) - 1250/monthly - Optional (maximum tax-exempted amount under this head).
- Child Allowance (maximum 2 children) - 100/- each for non-hostile or 300/- each for hostel - monthly.
- Food Allowance (as per company policy) - 1500/- monthly - Optional (maximum tax-exempted amount under this head).
Total of A - Gross = Total of A.
Part B - LTA
- As per company policy - Optional - amount according to Company policy.
- Bonus as per Act - Optional - According to Company policy.
Total Of B.
Employer Contribution, Part C
- EPF 13.61% of Basic (in some organizations - 13.61% on ceiling amount i.e., 6500/- = 780/-).
- ESI = 4.75% on gross (applicable only if gross is less than 15000/-).
Total Of C.
CTC per annum (A+B+C)
- (A+B+C).
Employee Deduction
- PF 12% of Basic (in some organizations - 12% on ceiling amount i.e., 6500/- = 780/-).
- ESI = 1.75% on gross (applicable only if gross is less than 15000/-).
- Income Tax as per TDS act.
- Professional Tax - IF(D15<=5000, 0, IF(D15<=10000, 175, 200)).
Total Deductions.
Net Take Home
- (A - Deductions) - Net Take Home (A - Deductions).
From India, Pune
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Salary breakup format.xls
Salary & Compensation Guidelines.zip