Currently, the provident fund is offering an 8.1% return. And also the same contribution is matched by the employer. The purpose of EPF is to provide sufficient retirement funds to employees.Īs per this scheme, nearly 12% of an employee’s basic salary is contributed to the provident fund. It is fully taxable to the employees, and it is generally received at the end of the year.Įmployee provident fund or EPF is a saving scheme which is monitored by the central government. It covers the train or bus fares or airfares incurred on travelling with or without family.īonus is an additional payment linked with the employee's performance. You can use ET money’s HRA calculator to estimate the total taxable HRAĪs the name suggests, Leave Travel Allowance (LTA) is a benefit given to employees to cover travel expenses while they are on leave. In case, employees do not live in rented accommodation then HRA is fully taxable in the hands of the employee. House rent allowance is a benefit that is received from the employer to meet rent expenses incurred by employees. The special allowance varies from a different company, and it is fully taxable in the hands of employees. Special allowance is the additional amount paid to employees for meeting different expenses like attire, food, academic allowance, internet subscription, phone, books, stationaries, etc. It is the base amount of the salary on which further additions and deductions are dependent. Basic salary is nearly 40-50% of the CTC.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |