could anybody tell me how to calculate the basic salary from ctc with formula....plz help me
From India, Delhi
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12From India, Delhi
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could you tell why this fourmula is used for basic salary??? =round(sum(c3-500)*100/192,0))
From India, Delhi
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From India, Delhi
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Hi there,
Let's assume your CTC per annum is 200,000. If you divide this by 12, you will get your Monthly CTC, which means 200,000/12 = 16,666 per month.
Next, you can consider either 40% or 50% of this CTC as your Basic salary. For example, if you take 50% of 16,666, the calculation would be 16,666 * 50/100 = 8,333 as your monthly Basic salary.
I hope this clarifies the calculation process for you. Let me know if you need further assistance or information.
From India, Visakhapatnam
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Let's assume your CTC per annum is 200,000. If you divide this by 12, you will get your Monthly CTC, which means 200,000/12 = 16,666 per month.
Next, you can consider either 40% or 50% of this CTC as your Basic salary. For example, if you take 50% of 16,666, the calculation would be 16,666 * 50/100 = 8,333 as your monthly Basic salary.
I hope this clarifies the calculation process for you. Let me know if you need further assistance or information.
From India, Visakhapatnam
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Recently, I am also working as an HR with one company, but my specialization is not finance. I need human resource policy and the criteria of payroll, how to calculate when we have to provide only basic salary. Please, can anyone provide me with the format of leave policy for any organization?
From India
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From India
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Reasonably good formula to adapt will be as under:
1. 35% of CTC as Basic.
2. 30% of CTC as Monthly allowances like HRA, Conveyance, etc.
3. 5% of CTC as annual benefits like LTA, etc.
4. 20% of CTC as Bonus or Performance payment. This will be a variable pay.
5. 10% of CTC towards PF, Gratuity, and other social security measures.
This formula generally works well. Few modifications in percentages can be made to suit your requirements.
- T. Sivasankaran
From India, Chennai
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1. 35% of CTC as Basic.
2. 30% of CTC as Monthly allowances like HRA, Conveyance, etc.
3. 5% of CTC as annual benefits like LTA, etc.
4. 20% of CTC as Bonus or Performance payment. This will be a variable pay.
5. 10% of CTC towards PF, Gratuity, and other social security measures.
This formula generally works well. Few modifications in percentages can be made to suit your requirements.
- T. Sivasankaran
From India, Chennai
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Basic salary depends on the grade/level of the employee and may vary from company to company. Each company may have different salary slabs for various grades/levels of employees, with lower grades receiving lower basic salaries. The basic salary typically ranges from 30% to 50% of the gross/CTC.
Regards
From India, Hyderabad
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Regards
From India, Hyderabad
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Dear Pintu,
The exact calculation of the Basic Salary from CTC cannot be done until all the components of the salary are identified. Taking "Basic Salary" as a reference point, CTC is derived, and not the other way around.
Regards
From India, Hyderabad
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The exact calculation of the Basic Salary from CTC cannot be done until all the components of the salary are identified. Taking "Basic Salary" as a reference point, CTC is derived, and not the other way around.
Regards
From India, Hyderabad
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The components of CTC differ from company to company. There is no specific compulsory percentage to be deemed as Basic from the Gross or CTC. In the case of Minimum wages, we take Basic approximately 80-95% of Gross, while in other cases, i.e., higher slab, it may be deemed approximately 40-50% of Gross.
Regards,
From India, Solan
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Regards,
From India, Solan
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Dear Sir,
CTC includes Basic + Other allowances + Annual benefits + Fringe benefits (Total salary + Other emoluments) per annum. CTC differs from one concern to another concern as per their policy. Normally, Basic Pay will be 30 to 50% of CTC % 12 = Per month emoluments as per Co. Policy.
D. Gurumurthy
LL, HR & IR Consultant
Hyderabad.
From India, Hyderabad
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CTC includes Basic + Other allowances + Annual benefits + Fringe benefits (Total salary + Other emoluments) per annum. CTC differs from one concern to another concern as per their policy. Normally, Basic Pay will be 30 to 50% of CTC % 12 = Per month emoluments as per Co. Policy.
D. Gurumurthy
LL, HR & IR Consultant
Hyderabad.
From India, Hyderabad
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Hi all,
Hope you are doing great! I have a small doubt regarding HRA, Conveyance, and Medical allowance. How much exemption is available in income tax for the F.Y. 2011-12? Please advise me and provide some sample files.
Thanks in advance.
Manu
From India, Hyderabad
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Hope you are doing great! I have a small doubt regarding HRA, Conveyance, and Medical allowance. How much exemption is available in income tax for the F.Y. 2011-12? Please advise me and provide some sample files.
Thanks in advance.
Manu
From India, Hyderabad
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Its depends upon the company policy.Either it could be 50% or 40% on Gross Salary. Regards Vikas
From India, Chandigarh
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From India, Chandigarh
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Hi Vikas_hr My 40% HRA, Coveyance Rs. 800, Per month Medical Allowance Rs. 1250/- per month how much Exemption in Saral (Income Tax) per year plse send some sample files thanks & regards manu
From India, Hyderabad
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From India, Hyderabad
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I need help on the biometric system. I recently joined a company where a lot of people are in Salesforce. If they report in the morning, they don't report in the evening; they sign off the field after telling their manager. How will I handle this? Also, people in the office are going for long lunches, even though the company policy clearly states one hour. How will I handle this? Please help.
From India, Bangalore
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From India, Bangalore
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Basic salary can be calculate i.e total gross salary in a month divide by 2.54 or 2.47.then shown basic salary.It is my funda cheap & best. Satish Kumar Vishwakarma 9580136707
From India, Amritsar
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From India, Amritsar
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Dear Sir, % of Basic,HRA,Conveyance,Medical is calculated as per law or depend upon company policy.If this are decided by law then pl.guide the related act for this. Regards, Himanshu Trivedi.
From India, Vadodara
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From India, Vadodara
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Dear All,
Can anyone tell me what the state government has decided regarding the minimum wage that should constitute the in-hand salary or basic pay?
For example, if the Delhi government's minimum wage is 10686, then what should we keep as the basic pay - the same amount or could it be anything else?
Regards,
Lalit Mathpal
From India, New Delhi
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Can anyone tell me what the state government has decided regarding the minimum wage that should constitute the in-hand salary or basic pay?
For example, if the Delhi government's minimum wage is 10686, then what should we keep as the basic pay - the same amount or could it be anything else?
Regards,
Lalit Mathpal
From India, New Delhi
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Hi HHH123,
This is Nisha. I was going through the thread discussion, and I did not understand how the calculation below is done. I have reviewed the Excel sheet.
Could you please explain the formula below?
=ROUND(SUM(C3-500)*100/192,0))
Thank you.
From India,
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This is Nisha. I was going through the thread discussion, and I did not understand how the calculation below is done. I have reviewed the Excel sheet.
Could you please explain the formula below?
=ROUND(SUM(C3-500)*100/192,0))
Thank you.
From India,
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Hi, Could you please clarify that conveyance allowance is standardised as per the policy? Or is it the company can standardised its own conveyance allowance percentage? please help
From India,
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From India,
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Hi, kindly help me with the salary structure for Rs. 22000, Rs.15000 and Rs. 10000 as final in hand salary that we get. need HRA and DA allowance structured for this. no PF is deducted
From India, Delhi
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From India, Delhi
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Nisha,
I have gone through the XL sheet. This Company has probably followed the following:
1. Assume 100 is equal to Basic
2. 100 Basic
40 HRA
15 CON
5 CEA
12 PF
4.75 ESI
4 Gratuity
8.33 Bonus
3 Uniform
192.08 Total
192 Round off
They probably would have reached 192 using the above methodology. If 192 is CTC, then 100 would be Basic. They must have some reason to minus Rs 500, which is Uniform allowance. It is purely an internal calculation. But more or less, they have followed the above methodology. This is also one of the easiest ways of arriving at the structure. This will bring Basic closer to 52% of CTC. This will work out well at lower salary brackets.
Sivasankaran
From India, Chennai
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I have gone through the XL sheet. This Company has probably followed the following:
1. Assume 100 is equal to Basic
2. 100 Basic
40 HRA
15 CON
5 CEA
12 PF
4.75 ESI
4 Gratuity
8.33 Bonus
3 Uniform
192.08 Total
192 Round off
They probably would have reached 192 using the above methodology. If 192 is CTC, then 100 would be Basic. They must have some reason to minus Rs 500, which is Uniform allowance. It is purely an internal calculation. But more or less, they have followed the above methodology. This is also one of the easiest ways of arriving at the structure. This will bring Basic closer to 52% of CTC. This will work out well at lower salary brackets.
Sivasankaran
From India, Chennai
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Iam unable to unhide the figures from sheet 1 , pls share the password. Pls clarify why the amount of 1750 is deducted in asst manager calculation sheet
From India, Pune
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From India, Pune
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Salary structure CTC 15000.xlsx