Grade salary

Others 2564 views 4 replies

How to calculate the grade salary?

If grade salary was 5000-100-8000-200-15000, since 1st march 2004. 

Replies (4)
plzzz reply anyone!!!

Assessee will get a basic salary of Rs. 5,000 w.e.f. 01.03.2004.

w.e.f. 01.03.2005 and onwards, he will get an annual increment of Rs. 100 till his salary reaches Rs. 8,000. After that he will get an annual increment of Rs. 200 till his salary reaches Rs. 15,000. No further increment will be given, till he is placed in the higher/revised grade.

So, for AY 2016-17, his basic salary will be as follows:

April 2015 to Feb 2016 = 6,100 x 11 = Rs. 67,100.00

For March 2016 = Rs. 6,200.00

Total basic salary = Rs. 73,300.00

01-03-05

   5,100.00

01-03-06

   5,200.00

01-03-07

   5,300.00

01-03-08

   5,400.00

01-03-09

   5,500.00

01-03-10

   5,600.00

01-03-11

   5,700.00

01-03-12

   5,800.00

01-03-13

   5,900.00

01-03-14

   6,000.00

01-03-15

   6,100.00

01-03-16

   6,200.00

thank you sir
Mr. X Has retired from a private company on 30th November 2017. He was working since 16 march 1991. He received 2,00,000 as gratuity. His salary grade was 5,000-100-8,000-200-15000 since, 1st March, 2006. He was also getting D.A. 25% of Basic Salary: Calculate his exempted (A) if he comes under Gratuity Act, (B) if he doesn't come under Gratuity Act solve this plz


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