Pay roll
This query is : Resolved
20 October 2014
Hi Sir,
Is there any acts to decide limits and percentages on Gross salary for Basic pay,HRA and etc...
Is there any acts to decide limits and percentages on Gross salary for Basic pay,HRA and etc...
20 October 2014
Hi
There is no law as such except in Maharashtra, there is The Maharashtra Workman's Minimum House Rent Allowance Act, 1983 HRA should be min. 5% of Basic Salary.
Also to give employee max tax benefit you should allow them maximum exempted allowance in their salary bracket viz: Conveyance allowance Rs. 800 etc..
Thnaks
There is no law as such except in Maharashtra, there is The Maharashtra Workman's Minimum House Rent Allowance Act, 1983 HRA should be min. 5% of Basic Salary.
Also to give employee max tax benefit you should allow them maximum exempted allowance in their salary bracket viz: Conveyance allowance Rs. 800 etc..
Thnaks
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