Basic should be kept low or high

You should go with Higher Basic Salary.

For Example if u choose say 40% as basic your basic salary will be 40% of 30LPA =Rs.12LPA

PF will be Rs. 1.44 Lacs

HRA can be claimed as

lower of following

Rent paid -10% of salary = 45K*12- 10% of 12Lacs = 420000

50% of Salary (coz in metro)  6 lacs

actual rent paid    540000

regards,

ratan

Try to claim allowances (like car allowances, special allowance, medical allowance and other allowances) on reimbursement basis, as reimbursement of such expenses rather than as allowances also reduce your tax liability to a great extent.

You can claim deduction U/s 80D for mediclaim as well.

regards,

ratan

You are surely a rich man

Dear Sunil,

You should choose 40% basic of CTC. because PF amount (employer contribution is tax free and employee contribution is deductible u/s 80C), HRA exemption also depends on your basic salary.

So it is beneficial from tax point of view.

Regards,

Sumit K. Garg