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Computation Of CTC

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Computation Of CTC
COMPUTATION OF CTC & TAKE
HOME SALARIES

COMPONENTS OF SALARY











Basic Salary
HRA
DA & FDA
Conveyance Allowance
Variable pay( monthly)
Gratuity? LTA?
PF? ESI?
Medical Allowance, attire allowance, washing allowance Education allowance, Spl Allowance

COMPUTATION OF CTC










Basic Salary, HRA, DA & FDA
Conveyance Allowance, Variable pay( monthly)
Gratuity, LTA p.a.,Bonus, Extratia
Retention/Loyalty Bonus paid annually
PF , ESI(employers)
Medical Allowance, attire allowance, washing allowance, Education allowance
Spl Allowance
Sodexo, accommodation, Mobile, internet allowance DEDUCTIONS



Statutory
Optional – case based

STATUTORY DEDUCTIONS
Provident Fund – Employers contribution Income Tax – TDS
Profession Tax - PT
Contribution to Trade Unions

OPTIONAL DEDUCTIONS







Salary Advance
Contributions to Insurance
Contributions to Relief Funds
Any other scheme
Additional contribution to PF
Recovery of Damages/losses, LOP

PT IN TELANGANA(ON GROSS
SALARY)


Rs.
Rs.
Rs.
Rs.
Rs.



Different for different States
Since covered by the Commercial Taxes
Department of each State.



5001 to 6000 --- Tax Rs. 60
6001 to 10000 --- Tax Rs. 80
10001 to 15000 -- Tax 100
15001 to 20000 --- Tax 150
20000 and above --- Tax 200

PROVIDENT FUND







Upto a salary of Rs. 15,000/- Per month
@ 12%
Contributed by both Employee &
Employee
8.33% to Provident Fund
3.67% to Pension Fund

ESI




1.75% on Gross by Employee
4.75% on Gross by Employer
Gross salary upto Rs. 20000/-

INCOME TAX SLABS AS PER ACT OF 2013 FOR THE
YEAR 2014-15 FY






Upto Rs. 250000 – NIL
Rs. 250000 – 500000 – 10%
Rs. 500001 – 1000000 – 20%
Rs. 1000001 and above – 30%

ALLOWANCES


HRA: Lowest of the following:




Actual HRA Received
Rent paid in excess of 10% of salary
50% of salary in Metro Cities or 40% of salary for others.

Salary means Basic Salary as well as DA if the terms of employment so provide.




CONVEYANCE ALLOWANCE: Any allowance
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