Everything You Need to Know About Your Salary Slip
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Join the discussion… Mayurdhwajsinh Solanki • 2 months ago
What is the meaning of LIP in salary slip?
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Avs Mohan • a year ago
what is the full form of VIC in salary slip?
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Ramesh • a year ago
i need to tally my total earninng (ie..If total earnings as 18500 net pay 17267. how should i equal the amount as 18500.i tried like transport recovery as 1233/
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Ramesh • a year ago
any one help me for payslip deduction
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motiraja • 2 years ago
35-50% of basic salary is the rule so can you back it with any government rules/Min wages act etc??
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piramanayagam • 2 years ago
in some companies the HRA is more than the double of basic. Is it correct?
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Sidharth Sankar • 2 years ago
Can anyone explain what is " CF DIFF:RENT COA/COL EL" ?
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Shivam singh • 2 years ago
Can anyone clarify what does "Labour welfare " deduction means???
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Ram Ramachandran • 2 years ago
Hi... good one. But I have a query....! LTA has long been for "native place travel" in a year or so I have been told. But I don't understand as to why LTA should be restricted to (a) Domestic Travel only? (b) Even in Domestic Travel, only Point to Point is allowed? Given the Competition, LCCs & the rising disposable incomes... Foreign Travel has increased. Also, more youths are employed now. Why not allow Foreign Travel too? Again... even in the Local or Domestic Travel, Accommodation is not considered (again Native place theory & the primitive presumption that at your Native place you will not require accommodation). With all LIberalisations around... LTA must be "relaxed & be more open"... Please clarify... and correct my understanding... please! Best regards, ram
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AK • 2 years ago
how is the TDS calculated here? When i computed, i got the annual tax as 1,83,505 (ed cess included). If I take exemptions on HRA, conveyance and medical, I get a net taxable pay per month as 12942.5. How is the 10000 TDS arrived? Please shed some light. Many thanks.
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snisonko • 3 years ago
Every new employee should be aware of these;also one of the the trade union responsibilities
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Sachs Gkd • 3 years ago
Very good read...all readers check out this app on google App Store it helps track and save funds "Walnut "
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Venkata Rajasekhar Sure • 3 years ago
Worst Article
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Muralidharprasad Ayaluru • 3 years ago
Very Good Article
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EDWINA DSOUZA • 3 years ago
GOOD ARTICLE
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Vishal Akkalkote • 3 years ago
What all other things needs to be taken care when we switch the job.
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Vishal Akkalkote • 3 years ago
Dear Vishal Akkalkote, Please refer the article mentioned below for a checklist of things to consider while switching jobs. https://scripbox.com/blog/l...
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Samar Nath Tewari • 3 years ago
The format depicted here as a pay slip has been designed properly to make understand the importance of salary structure. Net salary should not be construed as his or her salary package. Even employer pays additional percentage or amount on EPF the benefit of which is transferred to employees EPF account besides his gross salary. It helps how much investment he or she can do so as to further tax is saved in order to increase take home salary. Also in this way financial discipline will prevail.
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mani k • 3 years ago
It would be pertinent to note that Profession Tax is totally removed from the earnings while calculating your Income Tax Liability.
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TG • 3 years ago
You said bigger the basic salary, the more tax you need to pay. In cities like Gurgaon, where rent of a 2BHK is around 20-25K easily, and which is considered as a non-metro wouldn't a higher basic salary mean higher HRA exemption limit (remember 40% of basic) and will eventually allow you to save more tax. I am taking about 12 to 15 Lacs per annum salary bracket here. Please suggest, cause my understanding is that a higher basic salary would lead to higher HRA exemption limit.
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TG • 3 years ago
you are earning 12-15 lacs per annum and dont have the brains to understand this sh**tty stuff you are lying and this whole article with question and answers are provided by you only
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Jignesh Shah
TG • 3 years ago
40% of your basic pay (24000) Actual rent minus 10 % of basic (19000) HRA component specified on your salary slip (30000) The HRA Exemption would be the lowest of the above 3. For eg if your Basic Salary is 60000 , HRA Allowance is 30000 and actual rent paid is 25000. then you will be eligible for HRA IT Exemption of Rs. 19000/- .Note here , here , higher the basic amount , lower is the actual HRA IT Exemption
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vijay vg • 3 years ago
What would be the calculation , for Basic pay from gross salary. is it mandatory to take 60 percent of the gross salary as basic ,since my company deducts the same.Kindly share your views so that it would be helpful,
• Reply • Share › Himanshu
vijay vg • 3 years ago
No, it depends on many factors.. Most companies(IT/Tech/Online, such as Banks and all) have a compensation management client in place where you can do all this stuff. You can even state your savings and calculate your Tax in most of them. Get your compensation plan it will contain all the details.
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husna • a year ago
i need to tally net 28000 and gross 30000
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