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Salary, Net Salary, Gross Salary, Cost to Company: What is the difference
Salary, Net Salary, Gross Salary, Cost to Company are they same or different. For most people it is plain confusion especially when one gets a new job. The excitement of getting first job is punctured on getting the first pay. It is usually less than what the fresher employee expected. Usually in the campus interviews Read the rest of this entry »
It’s not what you earn that makes your financial position!
Recap:Swayam was now king of the world. All the hours of studying in school, college had paid off, he had the job and he would spend money living life king size. But then he was pulled in different directions-taxes, savings, insurance, investments, stocks, mutual funds, . He realized he was educated but had no financial Read the rest of this entry »
Four Corner Stones:Income, Expense, Assets, Liabilities
You plan a tower that will pierce the clouds? Lay first the foundation Recap:Swayam was now king of the world. All the hours of studying in school, college had paid off, he had the job and he would spend money living life king size. But then he was pulled in different directions-taxes, savings, insurance, investments, […]
5 responses to “Salary”
hi,
my basic salary is rs. 10,000 and my co. is deducting rs. 2400
from my CTC salary every month as PF. is it correct???
Mani quoting from our article Basics of Employee Provident Fund: EPF, EPS, EDLIS
EPF, EPS and EDLIS are calculated on Basic salary,Dearness allowances(DA), cash value of food concession and retaining allowances if any.Most of the organizations follow Basic+ DA Method.
So it seems that for EPF calculation your salary is being considered as 20,000 hence 12% of 20,000 is 2400 Rs.
Please verify with your Finance dept.
hi,
i asked from them and they said 12% is from employer and 12% is from employee. so thats why 2400 on 10,000 basic salary.
is it correct or only 12% is submitted in PF acoount as per rules?????
Would like to know about the Salary Break Up
Our article Salary, Net Salary, Gross Salary, Cost to Company: What is the difference is about it. Let us know if you need more information.