What are examples of fixed income?
What are examples of fixed income?
Treasury bonds and bills, municipal bonds, corporate bonds, and certificates of deposit (CDs) are all examples of fixed-income products. Bonds trade over-the-counter (OTC) on the bond market and secondary market.
What is fixed salary and gross salary?
Gross Salary is the amount of salary after adding all benefits and allowances but before deducting any tax. For Example: An employee has a gross salary of Rs. 50, 000 and basic salary of Rs. 20, 000, then he/she will get a Rs. 20,000 as a fixed salary.
How do I calculate gross pay from net pay?
How to Calculate Net Income. Subtract your employee’s voluntary deductions and retirement contributions from his or her gross income to determine the taxable income. Then, subtract what the individual owes in taxes (federal, state and local) from the taxable income to determine the net income.
What is fixed pay?
Fixed pay is the fixed amount of salary that an employee gets at the end of the month whereas Variable pay is the incentive paid to the employee, monetary or non-monetary, based on their performance for the month. The ratio of fixed to the variable component, as a norm, varies based on the role the employee plays.
Is payroll a fixed or variable cost?
Wages paid to workers for their regular hours are a fixed cost. Any extra time they spend on the job is a variable cost. In a factory that makes dresses, the variable costs are the fabric and the labor used to make the dresses.
What is total fixed pay in salary?
Take a look at your CTC break-up and you will find fixed heads like basic pay (usually 40-50% of the CTC), home rent allowance (usually 40-50% of the basic salary), gratuity, PF, and reimbursements such as car fuel and mobile bills, apart from variable components such as annual bonus and performance bonus.
What is difference between CTC and gross salary?
The employees’ CTC is the gross amount, while the amount of salary one gets to take home is the net salary. In simpler words, gross salary is the monthly or yearly salary before any deductions are made from it.
Is PF mandatory above 15000?
EPF eligibility criteria If you are drawing a salary higher than Rs. 15,000 per month, you are termed a non-eligible employee and it is not mandatory for you to become a member of the EPF, although you can still register with the consent of your employer and approval from the Assistant PF Commissioner.
What is ESI salary limit?
Rs.21,000
How is PF salary calculated?
– If you are a man, you must contribute 10% or 12% of your basic salary. – In case you are a new woman employee, it is 8% of your basic salary for the first 3 years. Thereafter, it becomes 10% or 12% of your basic salary. – Your employer has to contribute an amount equal to 10% or 12% of your basic salary towards EPF.
What is PF salary limit?
Rs 5 lakh
Why PF is deducted twice from salary?
If the salary is mentioned as CTC, the employer PF amount only will be given in the offer letter. Employee PF amount will not be shown and it will be deducted from the salary. so it is logical only. CTC means cost to the company which is given by the company employee deductions to be not given.
What is the maximum EPF pension?
7,500 per month
Is there any hike in EPF pension?
“It is not possible to increase minimum monthly pension amount without compromising the financial viability of the Scheme (EPS-95) and/or additional budgetary support,” Gangwar said. Initially, they had proposed to provide at least Rs 3,000 per month to pensioners under the scheme.
