Salary breakup/leave salary payable

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2012
1.Will someone pls. advise how to breakup/Calculate the salary in pvt. ltd. company( exp- gross salary 20,000)into basic , hra, DA, Special Allownace etc.?

2. how to calculate Leave salary payable in pvt. ltd company as per law?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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04 February 2012 1.Best possible way take most of the components as follows 1. Basic (Fully taxable) 2. House rent allowance (exempted to extend rent paid) 3. Transport allowance (Rs.800 per month exempted 4. Children Education allowance (Rs.100 per month child per month maximum 2 child) 5. Hostel expenses allowance Rs.300 per month per child maximum 2 child 6.Leave travel Asssistance (LTA) 7.Medical expenses reimbursement 8.Car maintenance 9. Books & Periodicals 10. Mobile expenses reimburement

2.Leave salary

Lets take an example

XYZ is earning 10,000p.m S/he is entitled to have 24 days as PL in a year, which is 2 days a month. At the end of year she has 20 days PL left and s/he would like to encash it! Now again what is stated in your policy? What is maximum number of days that a person can encash his/her leave. Lets take it as 15 days a year!

Now the calucations:-

Gross Salary pm - 10,000
PL left in year 2006 - 20
No. of days of encashment - 15
Leave Encashment Amt - 10,000*15/30 = 5000 INR (TDS applicable)

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