1) Actual HRA Received, 2) Rent Paid over 10% of salary, 3) 50%/40% of Salary. For this purpose salary means Basic+DA. Calculation for the figures given by you will be following: 1) Actual HRA Received: Rs. 24000 per month, 2) Rent Paid over 10% of Salary: Rs. 84000- (10% of 81360), i.e 84000-8136=75864.
Professional 🔥 salary sheet in excel | D.A , HRA, TA, PF, ESI, GROSS SALARY | MS Excel#msexcel #data_entry_in_excel #salary_sheet #salary_sheet_in_excelWPS Actual house rent paid by you minus 10% of your basic salary. 50% of your basic salary if you live in a metro or 40% of your basic salary if you live in a non-metro. This minimum of above is allowed as income tax exemption on house rent allowance. Salary here means basic salary which includes dearness allowance if the terms of employment Maximum Limit for deduction under section 80GG. The maximum benefit that you can get under section 80GG, will be least of below amounts: Limit 1: Rs. 60,000 per year (i.e. Rs. 5,000 per month) Limit 2: Total rent paid minus 10% of the adjusted total income. Limit 3: 25% of adjusted total income of employee. Where Adjusted Total Income = Gross 1) Once you open MS Excel, create a file name and save it in a location from where you can access it easily. 2) Open a new Excel Sheet and write your company name, company address, month & year of the salary slip within the first three rows. 3) Make two columns and enter the general details of the employee like Name, designation, ID, Department
Let's take an example of a simple formula. On the worksheet, click the cell in which you want to enter the formula. Type the = (equal sign) followed by the constants and operators (up to 8192 characters) that you want to use in the calculation. For our example, type =1+1. Notes: Instead of typing the constants into your formula, you can select
ESI Calculation. The Employee State Insurance (“ESI”) is a contributory fund that has contributions both from the employer and employee and enables Indian employees to take part in a self-financed, healthcare, insurance fund. The scheme is managed by the Employee State Insurance Corporation which is a government body, and it is governed by 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.
Taxable Income = Gross Salary - EPF/PPF investment - Tax-Free Allowance - HRA - LTA - Medical Insurance - Tax Savings Instruments - Other Deductions. Calculation of HRA can be done by the minimum value from the below three scenarios: The amount that the employer pays as the HRA. The amount of rent that is actually paid minus 10% of the basic
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    • hra calculation formula in excel