dear all,
i want to know the breakup of salary, that how it can be calculated,like what are the % of EPF, ESI ,CCA, FA, TA, DA, SA ETC, or is there any format from where i can learn more? please help me.
From India, Mumbai
3i want to know the breakup of salary, that how it can be calculated,like what are the % of EPF, ESI ,CCA, FA, TA, DA, SA ETC, or is there any format from where i can learn more? please help me.
From India, Mumbai
Hello Pooja,
The components of the salary break up may be as below, you can prepare it at the suitability of your own. HRA would be 40 or 50% of basic.
Basic
HRA 40 - 50% is exempted from Taxes, depends on class of city
CCA - 825/- is exempted from tax
Other Allowance
Mobile Reimbursement
Medical Reimbursement of 1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Apart from this Food coupons, Holiday package and Furnishing items are included in their CTC.
Hope it must helped you to clear your queries up to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
The components of the salary break up may be as below, you can prepare it at the suitability of your own. HRA would be 40 or 50% of basic.
Basic
HRA 40 - 50% is exempted from Taxes, depends on class of city
CCA - 825/- is exempted from tax
Other Allowance
Mobile Reimbursement
Medical Reimbursement of 1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Apart from this Food coupons, Holiday package and Furnishing items are included in their CTC.
Hope it must helped you to clear your queries up to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
Hi,
I have enclosed herewith a sample salary calculation template. Please open it before going through this mail.
1. Basic + DA:
Basic can be given 30-40% of gross salary, while DA is fixed just it has been revised to Rs.648/-,
2. HRA: HRA can be given upto 50% of Basic, if employee leaves in Metropolitan or upto 40% in other cities. That will be non taxable, incase of submission the rent reciept.
3. Conveyance :
Rs. 800/- per month is non taxable.
Education Allow:
Rs. 200/- per month is non taxable, incase of two children.
Bonus :
8.33% to 20% can be given.
PF :
Employer Contribution : 12 % of Basic+DA
Employee contribution is same.
ESIC :
Applicable, if employee per month earned variables are more than Rs.10000/- earlier it was Rs. 6500/- amende in the month of October.
Employer Contribution : 4.75% of all earned per month income,
Employee Contribution :1.75% of all earned per month income
Regards
Deepak Dwivedi
Asst. Manager - HR
From China
I have enclosed herewith a sample salary calculation template. Please open it before going through this mail.
1. Basic + DA:
Basic can be given 30-40% of gross salary, while DA is fixed just it has been revised to Rs.648/-,
2. HRA: HRA can be given upto 50% of Basic, if employee leaves in Metropolitan or upto 40% in other cities. That will be non taxable, incase of submission the rent reciept.
3. Conveyance :
Rs. 800/- per month is non taxable.
Education Allow:
Rs. 200/- per month is non taxable, incase of two children.
Bonus :
8.33% to 20% can be given.
PF :
Employer Contribution : 12 % of Basic+DA
Employee contribution is same.
ESIC :
Applicable, if employee per month earned variables are more than Rs.10000/- earlier it was Rs. 6500/- amende in the month of October.
Employer Contribution : 4.75% of all earned per month income,
Employee Contribution :1.75% of all earned per month income
Regards
Deepak Dwivedi
Asst. Manager - HR
From China
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Typical salary breakup.jpg
Salary breakup format.xls