What is the meaning of 9300-34800?

What is the meaning of 9300-34800?

What is the meaning of 9300-34800?

Similarly, In 9300-34800 Pay Scale, the starting basic pay is 9300 and last basic pay is 34800. When a new employee joins and given 9300-34800 pay scale, then in starting he/she is given salary based on 9300 basic pay. Various allowances are calculated on this basic pay and added to basic pay to come at total salary.

What is a basic pay?

What Is Basic Salary? Basic salary, also called base salary, is the amount of money a salaried employee regularly earns before any additions or deductions are applied to their earnings. Additions and deductions to basic salary can significantly affect the size of an employee’s paycheck.

How can I calculate my salary from basic pay and grade pay in India?

The method to calculate your salary as per the 7th CPC is simple. The salaries are obtained by multiplying the existing basic pay by a factor of 2.57 and the figure so arrived will be added to all the applicable allowances such as Transport Allowance (TA), House Rent Allowance (HRA), Medical Allowance, etc.

How is basic salary calculated online?

What is the formula for salary calculation?

  1. Take Home Salary = Gross Salary – Income Tax – Employee’s PF Contribution(PF) – Prof. Tax.
  2. Gross Salary = Cost to Company (CTC) – Employer’s PF Contribution (EPF) – Gratuity.
  3. Gratuity = (Basic salary + Dearness allowance) × 15/26 × No. of Years of Service.

Is basic salary in hand salary?

Basic salary is the figure agreed upon between a company, its employee, without factoring in bonus, overtime, or any kind of extra compensation. Gross salary, on the other hand, includes overtime pay and bonuses, but does not consider taxes and other deductions. Say for instance, an employee’s gross salary is Rs.

What is the salary of 9300 34800 grade pay 4800?

One more week

Pay Band 900 to 34800 pay band
Grade 4200 4800
Level 6 8
1 35400 47600
2 36500 49000

What is the salary of pay scale of 9300 34800?

Basic salary: After 7th Pay Commission the minimum salary of the government employee will be Rs. 18, 000/- per month. The maximum salary of the Apex scale employees will be fixed at Rs. 2, 25,000/-.

How much is basic salary in CTC?

Usually, the basic salary is 40% to 60% of CTC (Cost to Company). The statutory components: bonus, PF, gratuity and other benefits are determined based on the basic salary. An increase or decrease in the basic salary calculations can affect the employee’s CTC.

How is basic salary calculated from CTC?

CTC = Earnings + Deductions Here, Earnings = Basic Salary + Dearness Allowance + House Rent Allowance + Conveyance Allowance + Medical Allowance + Special Allowance.

What is the percentage of basic salary?

40% to 50%
Usually, the basic salary is 40% to 50% of CTC (Cost to Company). Statutory components such as bonus, PF, gratuity, and other benefits are determined on the basis of the basic salary. Any increase or decrease of basic salary can affect an employee’s CTC.