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Salary bifurcation

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 February 2016 Sir,

Pls help me in bifurcating the salary amt of Rs.41200/- so as there is minimum of income tax.
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
01 February 2016 You break up the salary for example into:
Basic: Rs. 20,000;
HRA (40% of basic): Rs. 8,000;
Transport Allowance: Rs. 1,600;
Medical expenses reimbursement on submission of bills: Rs. 1250;
Children education allowance: 200 (for two children @ Rs. 100 each);
Employer contribution towards PF: Rs. 2400;
Out of the balance amount you may partly pay "other allowances / pay" (monthly) and partly reserve for annual benefits (such as LTA etc.).

Note: Basic salary is the deciding factor for computation of PF, leave enchashment, etc.
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