I have received offer letter for Accounts Executive which shows CTC as follows:
BASIC = 8500.00 HRA = 3400.00 CONVEYANCE ALLOWANCE = 800.00 MEDICAL ALLOWANCE = 1250.00 FLEXIBLE EXPENSES PLAN* = 5150.00 ==================================== GROSS PER MONTH = 19100.00
FLEXIBLE EXPENSES PLANT COMPONENT =
FLEXIBLE EXPENSES COMPONENT AMT/SLAB REMARK
Food Coupons if opted for : rs.2000.00 fully tax expemt Leave Travel Allowance if opted for , the amount witheld per month = amt declared pa/12. tax exemption upon meeting IT requirments The Same will be paid at the end of the year. Superannuation if opted for minium Rs.100.00 & maximum upto 15% of basic salary. fully tax exempt. (Employer Contribution) restricted to Rs.8333.00 p.m.
Provident Fund if opted for , 12% of Basic Salary or 12% of Rs.6500.00. Once opted Employee Contribution fully tax exempt (Employer Contribution) can't opt out whilst in service
Special Allowance Balacing Figure Fully taxable.
I am not able to come to the net amount per month i will get because of flexible expeness plan, it's confusing me. So please calculate at your end & tell me how much i will get in hand along with your calculation i.e.esi.pf.pt etc.
What should i do in order to maximum utilisation of Flexible expenses plan component.
20 October 2008
As per the data given by you, The benefit will be only tax saving if you exercise the various options instead of the Fixed allowances. CTC remains unaltered.
I have received offer letter for Accounts Executive which shows CTC as follows:
BASIC = 8500.00 HRA = 3400.00 CONVEYANCE ALLOWANCE = 800.00 MEDICAL ALLOWANCE = 1250.00 FLEXIBLE EXPENSES PLAN* = 5150.00 ==================================== GROSS PER MONTH = 19100.00
FLEXIBLE EXPENSES PLANT COMPONENT =
FLEXIBLE EXPENSES COMPONENT AMT/SLAB REMARK
Food Coupons if opted for : rs.2000.00 fully tax expemt Leave Travel Allowance if opted for , the amount witheld per month = amt declared pa/12. tax exemption upon meeting IT requirments The Same will be paid at the end of the year. Superannuation if opted for minium Rs.100.00 & maximum upto 15% of basic salary. fully tax exempt. (Employer Contribution) restricted to Rs.8333.00 p.m.
Provident Fund if opted for , 12% of Basic Salary or 12% of Rs.6500.00. Once opted Employee Contribution fully tax exempt (Employer Contribution) can't opt out whilst in service
Special Allowance Balacing Figure Fully taxable.
I am not able to come to the net amount per month i will get because of flexible expeness plan, it's confusing me. So please calculate at your end & tell me how much i will get in hand along with your calculation i.e.esi.pf.pt etc.
What should i do in order to maximum utilisation of Flexible expenses plan component.
21 October 2008
You have not given what choices you are opting. But based on my own assumption I am just giving an idea. The calculations will vary depending upon what choice you make.
Basic 8500 HRA 3400 Conveyance 800 Medical 1250 ----- Total 13950 Add:Bal FA 855 ----- Total 14805 Less PF Employee 1020 ------ 13685 TDS nil ------ Take home 13685 ------ Flexible Allowance 5150 Less PF 12% basic 1020 SAF15% basic 1275 ---- Balance FA 855 ----- Taxable sal 14805 Less conv. all 800 Less PF 80C 1020 Less possible medical cliaim 485 ----- Taxable sal 12500
CAclubindia
