Step 6: Now subtract all the deductions from the earned gross salary of the employee in that particular month, the balance amount will be the net salary of the employee. Other(Special) Allowances (Balance allowances) HRA (40% of the basic wage for nonmetro cities)Ĭonveyance Allowances ( 1600 Rs in urban areas) ![]() ![]() Step 5: In another column add deductions such as EPF, professional tax, ESI/health insurance, TDS, salary advances, etc… Salary calculation formula for the total paid days = (Original gross salary/Total days in the month) X Paid days in that month. The sum of all the earnings will be called the actual gross salary of the employee. 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.
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