Dear All, Can some one help on "how to divide salary". For exp.. if the salary is 30K / month then how to divide that for Basic, PF, ESI, HRA, etc... according to the Law.
From India, Vijayawada
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From India, Vijayawada
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Salary Breakup Details
Please find the breakup below:
- Gross: 30,000
- Basic: 40% of Gross - 12,000 (50% of Gross in case of metro cities)
- HRA: 40% of Basic - 4,800
- Conveyance: 800 (Fixed)
- Medical: 1,250 (Fixed)
- Special Allowance: 11,150 (Remaining amount)
Deductions:
- PF: 12% of Basic - 1,440
- ESIC: If Gross salary is more than 15,000 INR, then they are not eligible for ESIC
- Professional Tax: 200
Regards,
KUMAR
From India, Bangalore
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4Please find the breakup below:
- Gross: 30,000
- Basic: 40% of Gross - 12,000 (50% of Gross in case of metro cities)
- HRA: 40% of Basic - 4,800
- Conveyance: 800 (Fixed)
- Medical: 1,250 (Fixed)
- Special Allowance: 11,150 (Remaining amount)
Deductions:
- PF: 12% of Basic - 1,440
- ESIC: If Gross salary is more than 15,000 INR, then they are not eligible for ESIC
- Professional Tax: 200
Regards,
KUMAR
From India, Bangalore
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First of all, I would like to appreciate Kumar for answering your question in a very simple and easy process.
Yes, Basic, HRA, Conveyance, PF, and ESI are according to the law. However, Medical, LTA, and Special Allowance are as per the company's policy.
Thank you.
From India, Mumbai
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Yes, Basic, HRA, Conveyance, PF, and ESI are according to the law. However, Medical, LTA, and Special Allowance are as per the company's policy.
Thank you.
From India, Mumbai
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