1. Enter the Annual Income (CTC Amount): Start by entering the annual salary amounts in the designated fields. This includes basic salary, HRA, LTA, special allowance, and other allowances. 2. Select Compliance Settings: Next, select the compliance settings as per your establishment's applicability. The compliance settings include Provident The HRA is new with little to no previous claims experience. The company decides to apply the rule-of-thumb percentage. This is done simply by multiplying the coverage limit by, say, 75% and then dividing that amount by twelve (for the number of months in a year). Using this formula, the HRA COBRA premiums might be determined as follows: Enter a header (in row 3) for your new column (for example, “Local NYC Tax”) and input the rates for applicable employees. Go to all the month tabs (from “January Payroll” to “December Payroll”), including the “Year-to-Date Payroll” tab, and enter a new column between columns N and Q (the tax columns). Label this “Local NYC Human life value is the monetary value of a person’s life. It is determined by the total benefits others depending on him/her may expect to derive from future efforts made by the person whose life is being valued. Evaluating human life in this way is important especially in cases where there happens to be a sole breadwinner as it determines The contents of the salary break up is as below, you can prepare it at the suitability of your own. HRA would be 50 or 60% of basic. Basic HRA CCA - 825/- is exempted from tax Other Allowance Mobile Reimbursement Medical Reimbursement of 1250/month is exempted from tax Gross Per Month = Sum of all the above. Gross Per Annum= 12*Gross/Month Children education allowance is exempt up to Rs. 200 per child per month up to a maximum of two children. Conveyance allowance is exempt up to a maximum of Rs. 1600 per month. Tax on employment and entertainment allowance will also be allowed as a deduction from the salary income. Determine the actual amount of HRA received from the employer during the year. Calculate the total rent paid during the year for the rented accommodation. This should include the rent paid for the period when the employee was occupying the rented accommodation. From the total rent paid, subtract 10% of the employee’s basic salary. Step 3: Now enter the number of days in the month and the LOPs (Loss of Paydays) of the employee. To calculate total paid days subtract LOPs from the total days in the month. Step 4: Now in one column add all the earnings of the employees such as basic wage, house rent allowances, conveyance allowances, medical allowances & special allowances. In addition to the basic features of the CTC Salary Calculator, the article also explains how to use the tool to calculate income tax, deductions for Provident Fund (PF), Employee State Insurance (ESI), and other benefits. The article provides step-by-step instructions for using the tool, which is user-friendly and customizable, allowing users To make a salary slip in excel format, start with entering details like company name, address, and contact details in the headline section in an excel sheet. Create another two equal sections in the excel sheet to enter details like employee ID, date of joining, month & year, EPF account number, UAN number, pan card, Aadhaar card, department TWB4v.