Hello Yusuf.. Sure.. definitely you may knock me further if required any assistance.. Amit Seth.
From India, Ahmadabad
496From India, Ahmadabad
Dear Yusuf,
Here is my break-up, u can also try this:
Basic 9000/-
HRA 4500/-
Conveyance Allow. 800/-
Education Allow. 200/-
Medical. Reimbursemant 1250/-
Special Allow. 5330/-
_________
Gross salary------------- 21080/-
P.F. --------------- 1080/-
___________
Net Salary in hand------ 20000/- ___________
And, let me know it'll solved your problem or not.
Regards,
soma
From India, Mumbai
Here is my break-up, u can also try this:
Basic 9000/-
HRA 4500/-
Conveyance Allow. 800/-
Education Allow. 200/-
Medical. Reimbursemant 1250/-
Special Allow. 5330/-
_________
Gross salary------------- 21080/-
P.F. --------------- 1080/-
___________
Net Salary in hand------ 20000/- ___________
And, let me know it'll solved your problem or not.
Regards,
soma
From India, Mumbai
Dear Soma,
Appreciate your effort. I believe you didnt added PF amt in Gross. As per my understanding both Employees & Employers contribution of PF must be added to Gross CTC & later Employers contribution must be deducted to get NET Salary/Take home salary/In Hand Salary.
Pls correct me if I am wrong.
-Yusuf
From India, Calcutta
Appreciate your effort. I believe you didnt added PF amt in Gross. As per my understanding both Employees & Employers contribution of PF must be added to Gross CTC & later Employers contribution must be deducted to get NET Salary/Take home salary/In Hand Salary.
Pls correct me if I am wrong.
-Yusuf
From India, Calcutta
Hi KK:
Thx for your spreadsheet. If you look at the previous answers given by other experts & spreadsheets uploaded by Preet, you will not find few components like Gratuity..& I am not sure if it has to be included in Gross CTC. Pls comment
-Yusuf
From India, Calcutta
Thx for your spreadsheet. If you look at the previous answers given by other experts & spreadsheets uploaded by Preet, you will not find few components like Gratuity..& I am not sure if it has to be included in Gross CTC. Pls comment
-Yusuf
From India, Calcutta
Hey,
Can try this on an excel sheet,....
Basic , hra,conveyance,special ,medical,all..hra-60% of basic,basic and conveyance as standard amounts like 800,1250 for and special 125%of basic -conveyance etc.
you can also include pf gratuity edlis as other deductions and arrive at this amount..
Regards
Anish
From India, Madras
Can try this on an excel sheet,....
Basic , hra,conveyance,special ,medical,all..hra-60% of basic,basic and conveyance as standard amounts like 800,1250 for and special 125%of basic -conveyance etc.
you can also include pf gratuity edlis as other deductions and arrive at this amount..
Regards
Anish
From India, Madras
Hi Yusuf...
You are very true that employer's contribution PF gets added in Gross CTC..
But it is only employee's contribution of PF that is been deducted from the
gross per month salary.. and after that net payable salary is been prepared.
Regarding Soma post.. she has given you the salary break-up of gross per month, thats why she has not added PF contribution of employer's to your salary break-up.
Regarding Employee contribution that is already been added, as its been deducted from your own basic salary, so there is no need to add further that contribution in CTC.
Hope it might have solved your query regarding the salary break - up.
Regards,
Amit Seth.
From India, Ahmadabad
You are very true that employer's contribution PF gets added in Gross CTC..
But it is only employee's contribution of PF that is been deducted from the
gross per month salary.. and after that net payable salary is been prepared.
Regarding Soma post.. she has given you the salary break-up of gross per month, thats why she has not added PF contribution of employer's to your salary break-up.
Regarding Employee contribution that is already been added, as its been deducted from your own basic salary, so there is no need to add further that contribution in CTC.
Hope it might have solved your query regarding the salary break - up.
Regards,
Amit Seth.
From India, Ahmadabad
Dear Yusuf,
Sorry for previous error.
Amit is right.
I have given only you employees gross p.m salary break-up, which include employee PF part and if u deduct employee PF, u'll get net in hand 20k p.m.
See:
Gross = Basic (include PF)+HRA+Conv.+Allow.
Gross CTC = Gross+Employer PF cont.
Net in hand = Gross CTC - (employer PF cont. +Employee PF cont.)
I hope it might have solved your query regarding the salary.
and, if u still have any query then pls. do write.
Regards,
Soma
From India, Mumbai
Sorry for previous error.
Amit is right.
I have given only you employees gross p.m salary break-up, which include employee PF part and if u deduct employee PF, u'll get net in hand 20k p.m.
See:
Gross = Basic (include PF)+HRA+Conv.+Allow.
Gross CTC = Gross+Employer PF cont.
Net in hand = Gross CTC - (employer PF cont. +Employee PF cont.)
I hope it might have solved your query regarding the salary.
and, if u still have any query then pls. do write.
Regards,
Soma
From India, Mumbai
Dear Soma:
Thx for your post. To be very frank with you all, I am now very much confused about this PF stuff.
If you look at Amit's last post, he says only employees PF contribution must be deducted from to get net figure whereas your last post says "Net in hand = Gross CTC - (employer PF cont. +Employee PF cont.)".
Can you pls squeeze some time amid your busy schedule and send me spread sheet filled with figures as per 20K requirement. Would appreciate your response.
-Yusuf
From India, Calcutta
Thx for your post. To be very frank with you all, I am now very much confused about this PF stuff.
If you look at Amit's last post, he says only employees PF contribution must be deducted from to get net figure whereas your last post says "Net in hand = Gross CTC - (employer PF cont. +Employee PF cont.)".
Can you pls squeeze some time amid your busy schedule and send me spread sheet filled with figures as per 20K requirement. Would appreciate your response.
-Yusuf
From India, Calcutta
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Typical salary breakup.jpg
Salary breakup format.xls