sir
my brother is working in an IT company .His basic salary is only 35% of his gross pay.
Is there any law in india which mandates that specific percentage of gross salary must form part of basic pay ?
1 Replies
Shriti Goyal
(625 Points)
Replied 12 June 2019
Basic is either 50% or 60% of the Gross salary and depends if you want to escape from PF liability.. and rest of the entitlements are calculated accordingly.. minus allowable exemptions such as HRA, LTA, conveyance allowance etc. for more information.. please refer.. https://www.bemoneyaware.com/blog/salary/
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