Dear All, I request you to kindly suggest/advise me on the following:
1. Can Other Allowances be higher than the Basic Pay? If yes, then is there a cap to it, or a certain calculation to derive the Other Allowances amount?
2. Is there a standard calculation for HRA, Medical Allowances, and Transportation Allowances based on the Basic Pay?
Your suggestions would be highly appreciated.
Regards
From India, Pune
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11. Can Other Allowances be higher than the Basic Pay? If yes, then is there a cap to it, or a certain calculation to derive the Other Allowances amount?
2. Is there a standard calculation for HRA, Medical Allowances, and Transportation Allowances based on the Basic Pay?
Your suggestions would be highly appreciated.
Regards
From India, Pune
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Yes, other allowances can be higher than the basic pay.
HRA Calculation
HRA is 50% of the basic pay for metros and 40% for non-metros.
Medical Assistance
Medical assistance is Rs. 1250/- per month, which is tax-free.
Transport Allowance
Transport allowance is Rs. 800/- per month and is tax-free. Alternatively, you can claim fuel and maintenance charges for tax exemption if you own 2/4 wheelers in lieu of the transport allowance.
From India, Lucknow
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HRA Calculation
HRA is 50% of the basic pay for metros and 40% for non-metros.
Medical Assistance
Medical assistance is Rs. 1250/- per month, which is tax-free.
Transport Allowance
Transport allowance is Rs. 800/- per month and is tax-free. Alternatively, you can claim fuel and maintenance charges for tax exemption if you own 2/4 wheelers in lieu of the transport allowance.
From India, Lucknow
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