Note: Insert CTC proposed in Cell # E15

Components % age Monthly Annual

Basic Pay 40 20,667 248,000
House Rent Allowance 12 6,200 74,400
Special Allowance 1 703 8,440
Car Lease Option 29 15,000 180,000
Leave Travel Allowance (LTA) - - -
Conveyance Allowance 800 9,600
Medical Allowance 1,250 15,000
Meal Vouchers 1,100 13,200
18
ESI Contribution by Employer - -
PF Contriubtion by Employer 780 9,360
Yearly Performance Bonus 5,167 62,000
Gross CTC 100 51,667 620,000
Professions Tax 183 2,190
PF Contriubtion by Employer 780 9,360
PF Contriubtion by Employee 780 9,360
ESI Contribution by Employer - -
ESI Contribution by Employee - -
Meal Vouchers 1,100 13,200
Yearly Performance Bonus 5,167 -
Car Lease Option 15,000
Leave Travel Allowance (LTA) -
Total Deductions 23,009 34,110
Net Take Home before TDS 28,658 585,890
CTC 620,000
Note:
1. Payment of Medical Allowance is subject to submission of Medical Treatment & Medicinal Expenses
2. Minimum YPB @10% of Gross CTCis deducted out of monthly salary but will be paid upon completion of One y
3. Rate of Professions Tax will vary based on Salary Scale, current rates are for Organisations located within Chenna
4. Rate of TDS is subject to Declaration and submission of related information and documents by employee
5. Meal Vouchers will be disbursed by Finance Department
 620,000
-

edicinal Expenses
paid upon completion of One year from date of appointment along with additional YPB if any
isations located within Chennai Corporation Limit
cuments by employee
Particulars Employer Employee
EPF 3.67% 12%
Employee Pension 8.33%
Employees' Deposit Linked Insurance Scheme(EDLIS) 0.50%
PF Administration Charges 1.10%
EDLIS administration Charges 0.01%
Total 13.61% 12.00%

Salary for PF means:

Basic+DA+Cash Value of Food concession+retaining allowance (if any)
Central Govt. Total
15.67%
1.67% 10.00%
0.50%
1.10%
0.01%
1.67% 27.28%
 Professions Tax Rates in Chennai

Sl. No. Six months income (Rs.) 1st Oct 1998 - 30th 1st Oct 2003 -30th 1st Oct 2008
Sep 2003 Sep 2008 onwards
21000 0
1 21,001 – 30,000 60 75 100
2 30,001 – 45,000 150 188 235
3 45,001 – 60,000 300 390 510
4 60,001 – 75,000 450 585 760
5 75,001 and above 600 810 1095

Profession Tax Collectable from the salary of August (Ist Quarter ) and January (IInd
Quarter)
http://www.tn.gov.in/dtp/professional-tax.htm
http://www.chennaicorporation.gov.in/online-civic-services/professionTaxCalculator.htm
1. You can get LTA only if you have applied for leave from your company and have actually traveled. However, internationa
within the country.

2. The entire cost of the holiday is not covered. Only the travel costs are covered. So, whether you fly, hop on to a train or take
ticket to claim your LTA. This means you will need to keep your air, rail or public transport ticket.

3. If you travel by car and it is owned by a central government organization like ITDC, the state government or the local body,

If you could not get public transport and resorted to private transport like renting a car, get a bill issued by the rental compan
you can always file an income tax return, claim an exemption and get a refund.

4. LTA covers travel for yourself and your family. Family, in this case, includes yourself, parents, siblings dependent on you,
children.

For children born after October 1, 1998, the exemption is restricted to only two surviving children (unless, of course, one birth
and triplets).

If your family travels without you, no LTA can be claimed. You have to make the trip, either by yourself or, if claiming for you

5. LTA is not related to when you started your employment. The government fixes blocks of years. These blocks are not f
are calendar years (January 1 to December 31).

The current block is 2006-09 -- January 2006 to December 2009. The earlier one was from 2002-05 -- January 2002 to Decem
is entitled to two LTA claims.

6. Though you can claim two journeys in a block of four years, you can claim the LTA benefit just once in a year. You cannot c

So, while a person can get an income tax exemption for two journeys in a block of four calendar years, he can make a trip o
year, you lose one. One-way out is to claim one and make your spouse claim the other.

7. You can carry forward your LTA. One LTA can be brought forward and claimed in the first year of the next block. Let's sa
that you use only one LTA. Don't worry, you will be able to take the pending LTA in 2006. This means that, in the 2006-09 b
journeys.

8. If you switch jobs, you can get the LTA not only from your present organization but also from your former employer, if the c

Let's say that, in the 2002-05 block, you claimed LTA in 2003. In 2004, you switched jobs. You can still claim your second j
your new employer will ask to look at your earlier tax returns to see whether it has been claimed or not.
9. You must take the shortest route to your destination to be eligible for LTA.
Let's say you are going from Delhi to Mumbai on a holiday. So the cost of your travel from Delhi to Mumbai and Mumbai to D

10. If your LTA is not utilised, it gets added to your salary and you will be taxed on it.

Let's say you and your spouse are both employed and both have LTA as part of the salary package. Your LTA is Rs 20,000 and

Both of you and your child go for a holiday. The tickets for the three of you amount to Rs 15,000. You supply the tickets to yo
a tax deduction; the balance Rs 5,000 will be taxed. You can claim exemption only to the tune of your expenditure.

If you claim this, your spouse will not be able to claim this same holiday from her employer. His/ Her Rs 20,000 will be t
holiday and he/ she claims it.

Or, let's say, you spend Rs 30,000 on tickets but your LTA is just Rs 20,000. You can claim up to Rs 20,000 and tell your s
employer.