salary structure in CTC - please suggest me

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harshit (Querist)
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09 April 2008 my friend started new compnay, in that company paid Rs.300000 (p.a.) salary

Basic ?
hra ?
CCA ?
Conveyance?
spl allowance?
medical allowance ?

per month (send salary structure- best for employer & employee benefit.
In CTC how much percent (%) deducted on emplyee salary, and how much PT deducted
please suggest me urgent sir.

R.V.RAO

R.V.RAO (Expert)
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09 April 2008 BASIC SALARY IS TAXABLE AS WELL AS MEDICAL ALLOWANCE, AND SPL. ALLOWANCWS ARE TAXABLE.
CONVEYANCE EXEMPTED UP TO RS. 800 PER MONTH.
CCA IS TAXABLE.
HRA THE LEAST OF THE FOLLOWING 3 EXEMPT.
1.EXCESS OF RENT OVER 10% OF SALARY
2.ACTUAL HRA
3.50% OF SALARY IN MUMBAI,CHENNAI,KOLKATA,DELHI
40% IN OTHER PLACES
ACCORDINGLY YOU CAN COMPUTE TAXABLE INCOME AND CALCULATE TAX.
THERE IS NO FIXED % FOR DEDUCTION OF INCOME TAX ON EMPL. SALARY.
TAX SLABS ARE APPLICABLE FOR COMPUTING TAX LIABILITY,LIKE UPTO RS. 150000 ,THERE IS NO TAX FOR FIN. YEAR 2008-2009.
THEN BETWEEN RS.1.5 LAKHS TO RS. 3 LAKHS 10% INCOME TAX ETC....ADD EDU. CESS ON TAX.

attention is also invited to payments made to persons covered under sec40A 2) of income tax act.
if a payment is considered excessive or un reasonable and paid to an individual who has substanial interest in the business of tax payer for supply of goods or rendering services,the excess shall be disallowed.

PROFESSION TAX IS A STATE TAX AND VARIES FROM STATE TO STATE.

forexample for maharashtra it is
if the salary is less than Rs. 2500 nil
if it is 2500- 3500 60/-
if it is 3500- 5000 120/-
if it is 5000-10000 175/-
it it is 10000 & above 200/-
R.V.RAO