New salary structure including various allowances.

[VOPunjab]

New salary structure including various allowances.

 

 

 

PAY SCALE : Rs. 15600-39100 Band Pay +5400 Grade Pay (Revised Pay Scale)

So Actual Basic = 21000 (starting)

+ 25% NPA = 5,250 [its added to Basic like grade pay but *conditions apply(only DA is calculated on basis of this added to basic. all other allowances are calculated on actual Basic pay)]

 

+ 58% DA = 15,225 (calculated as 58 % of Actual basic pay + NPA)

 

+ 10% HRA = 2100

+ 6% RAA = 1260

+ 5% RFA = 1050

+ Rs 500 (Med.A)

+ Rs 500 (Mobile Allowance)

 

So total being 46885 (Incl. RFA)

Apart from above we will get Rs. 1260/CVH for electricity, water and maintainance.

 

Starting Basic salary (band pay, incl. grade pay) - 21000 with increments at 4,9,14 yr of service apart from annual increments and max band pay upto 44500

 

 

Apart from above a few were announced but not implemented yet like convenience allowance, ma etc and are applicable if amended in future.

 

 

Apart from above Contributory Pension (CPF) will be available.

As per the scheme, all employees will have to make a contribution of 10 per cent of their basic plus DA and an equal contribution would be made by the Govt.

 

 

 

DA - Dearness Allowance

HRA - House Rent Allowance (city)

RAA - Rural Area Allowance (rural)

RFA - Rent Free Allowance/Accommodation

Med.A - Medical allowance

ma - mobile allowance

 

Salary Structure w/o NPA was posted earlier and can be found here : Click here

[VOPunjab]

Special thanks to Dr. Nitin Gautam and Dr. Jatinder Dhanjal for latest data.

[dr kamal]

Can anybody tell me if above calculations are true then how much tax we have to pay per year after saving..and what would be the system ; would it be advance tax or we have to declare our savings to employer to pay tax accordingly kindly clear

[VOPunjab]

There'd be no longer TDS deductions but there'll be CPF deductions and yes we'd be paying advanced tax.

 

The form 16A will now be of 3-4 pages (unlike single page now) and will already had all calculations done on your part, so you need not to bother or worry.

Max. Savings are 1,00,000 that are rebatable from tax.

[VOPunjab]

Update : Mobile Allowance Approved by Govt. w.e.f. 1st oct. 2011 as fixed Rs. 500/month.

 

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