What is Salary ?

!! Full Explanation of “SALARY” !!

Salary!
isn’t it every ones favorite? Its paid once in month & in 5 days or less fully expensed out.
We wait eagerly for whole month to receive the same. We work hard & with full efforts to earn this. When it is credited in bank a/c or received check or cash on pay day, see that smile on your face and specially your family.

Salary = Basic Pay + DA + NPA + HRA + TA + RA + WA – NPS – SI –HRD– TDS (Income Tax)

Components of Salary :

• Basic Pay
• Dearness Allowance
• Non Practising Allowance
• House Rent Allowance
• Travelling Allowance
• Rural Allowance
• Washing Allowance
• Contributory Pension Fund (NPS)
• State Insurance Premium
• House Rent Deduction
• Income Hai to Tax Hai

BASIC PAY –

Basic Pay = Pay in Pay Band + Grade Pay

Pay Band – 15600-39100 , Grade Pay – 5400

First Basic Pay = 15600+5400 = 21000

Increment – 3% of Basic pay every year (July)

If probation completes before 31^st Dec.– 3% of Basic Pay will be added in NEXT July.
Tip – First increment will be added in Next year(July) of Probation completion year.
Example – If your probation is completing on any day of 2017 (1 January 2017 to 31 December 2017 ), you will get your first increment in July 2018.
Second Basic Pay = 3% of First Basic Pay+ First Basic Pay = 630+15600+5400 = 21630
Pay in Pay Band is increased from 15600 and becomes 16230.

Based on this basic pay all other allowance are calculated like Dearness Allowance (DA), House Rent Allowance (HRA), Non Practising Allowance (NPA) & Transport Allowance (TA).

How to check salary status –

<a href="/index.php?p=536">How to check salary status</a>