Hi I just want to know is there any Law in India to enact HRA @ 40 % or 50 % of the basis salary of the employee?
From India, Coimbatore
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From India, Coimbatore
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There is an HRA Act in some states such as WB and Maharashtra, where the state act stipulates 5% HRA on Basic & DA.
The 40% OR 50% is as per IT rebate and has nothing to do with the HRA Act.
Warm Regards,
S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons]
From India, New Delhi
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367The 40% OR 50% is as per IT rebate and has nothing to do with the HRA Act.
Warm Regards,
S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons]
From India, New Delhi
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HR Allowance Overview
HR Allowance is granted to employees of state and central government, quasi-government, and public sector undertakings at various percentages linked to the classification of cities, towns, and other locations where they are situated. However, other sectors do not have such stipulations. In the organized private sector, HRA is governed by the respective corporate policies of establishments.
From India, Bangalore
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HR Allowance is granted to employees of state and central government, quasi-government, and public sector undertakings at various percentages linked to the classification of cities, towns, and other locations where they are situated. However, other sectors do not have such stipulations. In the organized private sector, HRA is governed by the respective corporate policies of establishments.
From India, Bangalore
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