8/16/2023 0 Comments Ctc salary slip format![]() ![]() Rent paid annually ( 10% of the basic + DA).The exemption amount will be applicable on the lowest of the following HRA depends on the city of employees residence.However HRA is not fully taxable in nature. HRA is given to live in rented facilities. For income tax and PF deductions, basic salary and Dearness allowance is considered. Salary Slip Format Dearness allowanceĪs the name also suggests, it is given to compensate for the inflation effect on salary.Thus, dearness allowance is directly linked to living cost of an employee Basic and dearness. are based on this basic and dearness allowance components only. Usually this basic component is kept low for the reason, it is 100% taxable in the hands of the employee.Īlso all the PF deductions etc. You will be surprised why this basic component is very low. Gross Salary & Net Salary – Your before deduction salary is called Gross salary which after deduction of PF, Income tax etc, the remaining component is called net salary. It should be noted it is NOT your in hand salary because you get salary after deductions like PF, TDS deduction etc. Cost to the company is the total cost that an employer spends on an employee individually.īasically it is the total cost including your in hand salary, PF, tax or other deductions, gratuity etc.
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