Dear Seniors / Juniors,
Please help me out to understand the concept about HRA and conv in salary structure, what can be the legal percentage in respect of both.
In addition to it what is the legal definiation for Special allowance. Is it the part of wages if ESIC Act is applicable?
With Warm Regards
Vikas Kumar
09968008206
From India, New Delhi
15Please help me out to understand the concept about HRA and conv in salary structure, what can be the legal percentage in respect of both.
In addition to it what is the legal definiation for Special allowance. Is it the part of wages if ESIC Act is applicable?
With Warm Regards
Vikas Kumar
09968008206
From India, New Delhi
dear vikas
there is no law who says how much should be HRA or conveyance percentage in salary structure.we are structuring salary by taking income tax point of view in consideration and as per that HRA should be 40% of basic in other cities and 50% of basic in metro cities because for that only we will get income tax exemption.conveyance should not be more than 800 per month because we will get exemption on 800 only but it is not law .
special allowance is fake term and this allowance is not defined,it has to to come in definition of wages for ESIC.
tks
j s malik
From India, Delhi
there is no law who says how much should be HRA or conveyance percentage in salary structure.we are structuring salary by taking income tax point of view in consideration and as per that HRA should be 40% of basic in other cities and 50% of basic in metro cities because for that only we will get income tax exemption.conveyance should not be more than 800 per month because we will get exemption on 800 only but it is not law .
special allowance is fake term and this allowance is not defined,it has to to come in definition of wages for ESIC.
tks
j s malik
From India, Delhi
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