Go for 12% of basic PF + additional 10% of basic in NPS for tax saving if you are in 30% bracket. Unless you think you are smart enough to outperform the stock market in long run by good margin.

Equity Research

Requesting assistance on choosing Rs. 1800 as PF amount or 12% of basic pay as PF. I know 12% of basic pay will also increase employer's share and it is good but any other thoughts and benefits wit...

Welcome to IT Company Discussion's Private Community

Requesting assistance on choosing Rs. 1800 as PF amount or 12% of basic pay as PF.
I know 12% of basic pay will also increase employer's share and it is good but any other thoughts and benefits with Rs. 1800 option?

P.S. i am in 30% tax bracket

Should i keep Rs. 1800 as fixed PF amount or go back to 12% of Basic Pay as PF?

Solution Architect

Should i keep Rs. 1800 as fixed PF amount or go back to 12% of Basic Pay as PF?- Grapevine

Welcome to Software Engineers's Private Community

Is 1800 deduction better or Maximum deduction 12% is better? Please elaborate your opinions.

MinPF vs MaxPF

Software Developer

Welcome to Personal Finance's Private Community

It’s so painful to see the amount of money I end up paying on the name of tax. Presently doing  - 1.5L of LIC and pf + 50k NPS + HRA. What else can be done? My CTC is 55LPA.

Ideas to lower income tax

Product Manager

I have very few knowledge on Tax. So sharing my queries here. Kindly guide me

In my Apr month salary slip I got to know about this.

Annual Income - 7,67,xxx
Net Tax Income - 7,17,xxx (After deduction 50k)
Tot. Tax payable -  17,xxx
Tax deducted this month - 1,xxx
(Tagged to NEW Tax Regime)

Will this Total Tax payable is for this entire financial year or it will be increases frequently after each month salary?

If I increase my PF contribution of about 20k for this year will this works for saving tax?

Or any otherway is there means pls guide me

Thanks in advance 👍

Info on Tax Saving

Guys, suggest me some tax saving schemes for new regime.

[Part 2] Don’t lose hope, keep fighting…

Founder

how much would the net monthly take home be? how can i arrive at the final number myself? pls consider the old tax regime and standard 80c deductions; i also have a student loan worth 17-18 L @10% (i think i can get some deduction on tax on it)

net monthly takehome

Quantitative Research

Consider investing in NPS and taking the tax benefit (however locking money until 60 atleast) vs investing in mutual funds.

Please share your thoughts if its worth the tax benefit.

Any opinions about if one should invest in NPS or not.

Do you pay PF

CTC - 5 LPA (fixed) was written in JD
Basic pay - 20k/month

Flexible pay* - 18k/month 
10% of Flexible pay is HRA

PF - 2.5k/month

I am not able to understand my take home or in-hand salary. Will i get 38k or 20k? would be great if you can give more info

Help me understand Salary Structure

Web Developer

Any comments PF holders?

Bonus - In your 1st job u can skip pf and opt for ELSS and get 1.5 lac benefits under 80c in old tax regime

Peanuts 🥜 for Middle Class

Senior Consultant

Which tax regime is better old one or new one for 12.25 LPA. I am paying 20k for insurance that’s it I don’t have house loan, rent bills etc

Which tax regime is better for 12.25LPA

Consultant

Govt of India is best at killing Middle Class. What percentage of your total CTC did you pay in tax. Income Tax department id the new Sahukar.

Percentage of Total CTC did you pay in tax ?

Analyst

Age - 33
YOE - ~ 10 years in Marketing

Zero exposure to US stocks. 
Zero exposure to Crypto.
Have a house (~45 lacs) for parents in a Tier 2 city which I haven’t added here. 
No liabilities (finished an education loan and a home loan)

Recently started investing in NPS and will continue to do (~1.5 lpa) and accumulating SGB (~2.5 lacs, the screenshot doesn’t capture gold correctly) from the past 6 months.

Question - is there merit in talking money out of EPF and reinvesting in Mutual Funds? What is the general view. 

Open to any other suggestions. TIA!

Seeking Advice - Portfolio Check

Welcome to Indian Startups's Private Community

What's the %PF contribution you make from your salary ? Is anyone aware of this percentage can be reduced?

What's your pf contribution

Associate Product Manager

Hello,
I am expecting an offer letter from a company based outside India. They are quoting their salary figures in USD. 
I wanted to get an idea from the members of this group about the things to keep in mind while being paid in USD.
How much would I have to pay in conversion fees? Or does the employer typically take care of that?

I would need to provide them with invoices every month, for which they will pay me. So I have to take care of the tax on my own.

Does this mean that PF is not an option or can I deposit PF myself somehow?

What other kind of issues should I keep in mind?

Salary from Foregin Based Startup

Mechanical Engineer

I'm working in infy with a salary of 13.6 LPA and no investments.

Which tax regime is better

Old / New tax, Which regime is better

Hello all, so I'm a student still, I'll would be joining a company soon and I want to learn about what all tax systems we have and how do I manage them, I want to do them myself in future, where do I learn and what all should I be aware of to save as much as I can?

To start with, I come under 30% bracket, basic salary is about 50% of my base, HRA being 20%, PF 6% and Flexible 24%. I don't have any loans on my name and I'll have to live on rent. I'm also curious on which sections could I be saving and how.

New to Tax

In my payslip I see both pf employee and employer. Ideally 1800 should be deducted from my salary so why is 1800*2 is being deducted. Looks like I am paying for the employers share of contributions too. Why so ?

Should i keep Rs. 1800 as fixed PF amount or go back to 12% of Basic Pay as PF?

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