Total CTC to be offered

Fixed Variable
Your salary break up is as follows. Basic HRA Medical Reimbursement Conveyance(Travelling allowance) Leave Travel Allowance PF Employer contribution Special allowance TOTAL FIXED (A)

142857.1
1000000 (70% of ctc) 42857 (30% of ctc)

Annual 500000 250000 15000 9600 100000 60000 65400 1000000

Monthly 41667 20833 1250 800 8333 5000 5450 83333

Basic 50% of fixed HRA is 50% of Basic

12% of Basic salary

From this salary break up which one is Gross salary? Fixed salary is called as Gross salary? Have I calculated d net salary correctly? what is sodexo coupons and will it come under fixed or variable ?

Income tax planning for above:

Gross total income=1000000-(HRA+MA+TA+LTA) =(100000-(250000+15000+9600+100000)) =625400

U/S 80(D) is for medical premium free upto 15000 U/S 80(E) educational loan for higher studies-full interest amoun U/S 80(G) donations : 100% exemption for govt.companies and 5 U/S 80(C ) EPF 70000, Home loans 100000, Bonds 20000 exempt

taxable income=GTI- (EPF+M.P+DONATIONS)

=625400-(60000+10000+20000) = 535400

Income tax slap as per government rule for men (1)0-180000(nil tax) (2)180000-500000(10% tax) (3)500000-800000(20%)

As per d govt tax slab 535400 comes under 3 rd slab and overlooked d 2 nd. so, 2 nd slab difference= 500000-180000 =32000 and, taxable income(535400)-3 rd slab min amount(500000) = 35400 =35400*20%(3 rd slab interest rate) =7080 so, 32000-7080=39080(tax per annum) =3257(tax per month) Then while calculating d TDS, =3257/3* =1086

Mam,this s wright one? And this s somewhat differ from asiaweb media book what they prvided?

Thank you to consider this one

Net salary(monthly) Fixed amount- deductions 83333-5000 78333.00

& esi s not applicatble because basic exceeds 15000 p.m

U/S 80(D) is for medical premium free upto 15000 U/S 80(E) educational loan for higher studies-full interest amount is exemption U/S 80(G) donations : 100% exemption for govt.companies and 50% exemption for private companies U/S 80(C ) EPF 70000, Home loans 100000, Bonds 20000 exemption

Income tax slap as per government rule for men (1)0-180000(nil tax) (2)180000-500000(10% tax) (3)500000-800000(20%)

Then while calculating d TDS, (*-Education cess) then, 3257+1086 TDS=4343

Total CTC 600000 to be offered

Fixed Variable 420000 180000

Fixed % Variable %

70% 30%

Your salary break up is as follows. Annual Monthly Basic 300000 25000 HRA 150000 12500 Medical Reimbursement 15000 1250 Conveyance(Travelling 9600 allowance) 800 Flexible Salary-105030 ** -8753 TOTAL FIXED (A) 369570 30798 Retirals PF Employer * 36000 Gratuity^ 14430 Fixed+ Retirals420000 Variable (B) 180000 TOTAL CTC 600000

3000 1203 35000 15000 50000

Indicative Provision

Payable annually

Income tax will be deducted at source on the basis of your income tax planning for the financ *PF company contribution will be 12% of basic, equal amount to be deducted as employee's c ^Gratuity will be payable at separataion at 15 days basic for every completed year, only after

** Flexible salary can be allocated under the following indicative headers:

1. Sodexo coupons upto Rs. 24000 per annum 2. LTA upto two month's basic per annum payable twice in a block of 4 years 3. Company Leased Car EMI 4. Fuel and maintenance on Company Leased Car upto 40% of flexible salary per annum 5. Fuel and Maintenenance of personal car upto Rs.28800 per annum 6. Personal Telephone bills upto Rs.24000 per annum for bills in own name

income tax planning for the financial year and as per law unt to be deducted as employee's contribution or every completed year, only after 5 completed years of service

ndicative headers:

ock of 4 years

lexible salary per annum