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Pan Singh
94

Dear Sumit,

As per the figures given above, the extra deduction of Rs. 1769/- seems to be OK, coz the employer contribution of Rs. 1769/- is part of ur CTC. One deduction is made for ur contribution and the another is made to match ur CTC. Now considerable point is that on what negotation u were appointed. U can ask ur HR dept. to submit ur CTC in phases as per below:-

A. Monthly

1 Basic

2 HRA

3 Conveyance

4 Special Pay

5 Medical Allowance

Total

B. Re-imbursement

6 LTA

C. Retirement Benefits

7 PF (12%)

8 Gratuity

D. Fixed Cost to Company

Moreover ur IT also seems to be little bit on higher side. As per my calculation ur IT should be:-

(A) Total CTC = 450000

(B) Less: Various deductions/benetifs etc.

1 Tax Free Limit = 250000

2 Conveyance = 19200

3 Medical Allow. = 15000

4 Deductions 80C = 150000

(u have to submit proof of saving under this head)

Total Deductions (B) = 434000

Taxable Income (C) (A-B) = 16000 (Tax @ 10%= 1600 for whole year)

In addition to the above u can Save under HRA, that depends upon ur residence status (consult with ur HR/Payroll).

From India, Delhi
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