Calculation of tax-exempt HRA amount. The amount of HRA received by you from your employer is not fully exempt from tax. The tax-exempt portion of the HRA is actually the minimum of the following: a) Actual HRA received from employer. b) 50 percent of the 'salary' if the accommodation is in the metro cities (Delhi, Mumbai, Chennai, Kolkata) or

Step 2: Create Allowance and Deduction Structure. Here, the below figure is showing the allowance percentages of basic salary given by the company among which medical expenses, yearly profit bonus, festival bonus, house rent are included and deduction percentage of basic salary made due to provident fund and income tax.
0. Since you want to evaluate the data with a pivot table, I would recommend to load the data into the data model and use Power Pivot to perform the calculation. Add a calculated column with the formula. =CALCULATE (Min (Table1 [MS]),FILTER (Table1,EARLIER (Table1 [MS]) < Table1 [MS])) This will give you the minimum value of MS which is greater
Dearness Allowance (DA) is an allowance paid by employers to their employees to compensate for the increased cost of living due to inflation. There are two types of DA – CPI-based and Industrial Average-based. The calculation of DA is affected by various factors such as the base index, CPI, Industrial Average, inflation, cost of living

Step 8: Calculate other allowances. (Gross salary – (basic wage+HRA+CA+Medical Allowances) Step 9: The sum of basic wage + HRA + CA + Medical Allowances + Other Allowances is called to total earnings which are equal to the above calculated gross salary. (Step 4) Calculate Deductions. Step 9: PF contribution 12% of the basic wage of the employee.

Determine the actual amount of HRA received from the employer during the year. Calculate the total rent paid during the year for the rented accommodation. This should include the rent paid for the period when the employee was occupying the rented accommodation. From the total rent paid, subtract 10% of the employee’s basic salary.

The DA will be calculated on the basis of the All India Consumer Price Index. The DA for Central Government Employees was earlier calculated based on the consumer price index with the base year 2001. The Central Government replaced it with a new consumer price index with the base year 2016 to calculate the DA from September 2020.

The HRA is new with little to no previous claims experience. The company decides to apply the rule-of-thumb percentage. This is done simply by multiplying the coverage limit by, say, 75% and then dividing that amount by twelve (for the number of months in a year). Using this formula, the HRA COBRA premiums might be determined as follows:
Making calculations in Excel is easy. Here's how: Type the equal symbol (=) in a cell. This tells Excel that you are entering a formula, not just numbers. Type the equation you want to calculate. For example, to add up 5 and 7, you type =5+7. Press the Enter key to complete your calculation.
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    • hra calculation formula in excel