Dear we are pay basic 2000/- + 5000 HRA , + 5000 Conv. +and more 15000/- Hra i am correct or wrong
From India, Delhi
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From India, Delhi
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HRA should be 40 or 50 % of basic. The above caliculations are wrong
From India, Suryapet
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From India, Suryapet
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Syamala, 40 or 50% of Basic for HRA is for tax exemption purposes. The % is not a compulsory. Pon, Chennai
From India, Lucknow
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616From India, Lucknow
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You can pay any amount under any head but ultimately, the employee has to pay income-tax on amounts over and above the exemption limits.
From India, Mumbai
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From India, Mumbai
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We are paid a basic of 2000/- + 5000 HRA, + 5000 Conv. + and an additional 15000/- HRA. Am I correct or wrong?
Important Note on Salary Structure
PLEASE NOTE: YOUR BASIC MUST BE AS PER THE MINIMUM WAGES APPLICABLE TO YOUR INDUSTRY. FURTHERMORE, DA SHOULD BE CALCULATED IN A SIMILAR MANNER. AFTER OBTAINING THESE TWO FIGURES, YOU CAN BIFURCATE THE BALANCE SALARY PORTION AS YOU WISH. IN SOME STATES, HRA IS ALSO APPLICABLE WITH CERTAIN CONDITIONS. HENCE, WHILE SETTING UP THE SALARY STRUCTURE, YOU NEED TO OBTAIN PROPER LEGAL INFORMATION OR SEEK PROFESSIONAL CONSULTATION.
Regards,
[Phone Number Removed For Privacy Reasons]
Pune, Maharashtra
From India, Pune
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Important Note on Salary Structure
PLEASE NOTE: YOUR BASIC MUST BE AS PER THE MINIMUM WAGES APPLICABLE TO YOUR INDUSTRY. FURTHERMORE, DA SHOULD BE CALCULATED IN A SIMILAR MANNER. AFTER OBTAINING THESE TWO FIGURES, YOU CAN BIFURCATE THE BALANCE SALARY PORTION AS YOU WISH. IN SOME STATES, HRA IS ALSO APPLICABLE WITH CERTAIN CONDITIONS. HENCE, WHILE SETTING UP THE SALARY STRUCTURE, YOU NEED TO OBTAIN PROPER LEGAL INFORMATION OR SEEK PROFESSIONAL CONSULTATION.
Regards,
[Phone Number Removed For Privacy Reasons]
Pune, Maharashtra
From India, Pune
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The components for the salary bifurcation should be as follows:
Basic Salary
- 50%-60% of the gross salary (but not less than the minimum wages of the state)
HRA
- 40%-50% of the basic salary
Conveyance Allowance
- Rs. 800/-; more than that should be taxable
Medical Allowance
- Rs. 1250/-; more than that should be taxable
Other Allowances
- The rest should be put under this category.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Basic Salary
- 50%-60% of the gross salary (but not less than the minimum wages of the state)
HRA
- 40%-50% of the basic salary
Conveyance Allowance
- Rs. 800/-; more than that should be taxable
Medical Allowance
- Rs. 1250/-; more than that should be taxable
Other Allowances
- The rest should be put under this category.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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SALARY SHEET CALCULATION.xls
Salary calculation.doc