Act for creating basic and hra
This query is : Resolved
18 October 2013
is there any act for creating Basic salary, HRA and other allowance
exmple : gross salary 10000/-, may i show basic 8000 and HRA 2000 or is there any act
Raja
exmple : gross salary 10000/-, may i show basic 8000 and HRA 2000 or is there any act
Raja
18 October 2013
Hi
There is no such provision except compliance of Minimum wages.
In Maharashtra HRA should be minimum 5% of Basic salary.
Max HRA you can give is 40/50 %.
Also pl note if you intend to avoid PF contribution you have to show minimum of Basic salary as Rs. 6500/-
Thanks//VaibhavJ
There is no such provision except compliance of Minimum wages.
In Maharashtra HRA should be minimum 5% of Basic salary.
Max HRA you can give is 40/50 %.
Also pl note if you intend to avoid PF contribution you have to show minimum of Basic salary as Rs. 6500/-
Thanks//VaibhavJ
Message likes :
1 times
18 October 2013
According to Minimum Wages Act, the Basic would be 35 to 50% of Gross salary. The range depends upon the C&B policies of the companies. Some companies believe in variable components and other believe in giving good basic within the range given above which means good post retirement benefits as well as fixed liability of the company.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Sales return eway bill
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
