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in this video I have explained how to calculate r.p.f amount in salary so watch it. if u think this video is helpful for u then share it to ur friends . thanku 😊

Retirement Benefits
Under income tax Act Related our previous video link below
1. gratuity part 1
   • Calculation OF GRATUITY IN INCOME TAX  
2. gratuity part - 2
   • Calculation of Gratuity For Retirement Ben...  
3. computation of pension
   • How to Calculate Commutation of a Pension ...  
4. leave encashment
   • LEAVE ENCASHMENT CALCULATION IN INCOME TAX  
5.Rrtrenchment Compesation
   • Retrenchment Compensation in income tax | ...  

practice Area for Active students


Q.1 COMPUTE GROSS SALARY
Basic salary 17000 pm
Dearness allowance 15% of basic salary (65% OF UTOE)
TIFIN ALLOWANCE 2,500 PM
TURNOVER COMMISSION 1% OF 5,00,000
Medical allowance 500 pm
Bonus same as salary (BASIC +DA)
His own contribution in RPF ₹ 6,000 pm
Employer contribution in RPF 18% of his basic salary
Interest accrued in the RPF@12% p.a 12,500
Traveling allowance 40,000 p.a (spent 15,000 p.a)
HRA RECEIVED FROM EMPLOYER 3000 P.M
ACTUAL RENT PAID BY EMPLOYEE TO LANDLORD 8,000 P.M (PERIOD 1-MAY-2020 TO 1-NOV-2020)
COMPANY PROVIDE RFA FURNITURE COST 4,00,000 WHICH WAS TAKEN ON RENT BY COMPANY RS 15000 IN WHICH 3000 RECOVERD FORM EMPLOYEE (PERIOD 1-NOV-2020 TO 31-MARCH-2021)

Q2.COMPUTE GROSS SALARY
Basic salary 14000 pm
Dearness allowance 12% of basic salary (55% OF UTOE)
TIFIN ALLOWANCE 2500 PM
TURNOVER COMMISSION 1% OF 5,00,000
Medical allowance 500 pm
Bonus same as salary (BASIC + DA)
His own contribution in RPF ₹ 4,000 PM
Employer contribution in RPF 24% of his basic salary
Interest accrued in the RPF@15% p.a 13500
Traveling allowance 40000 (spent 15000)
HRA RECEIVED FROM EMPLOYER 3000 P.M
ACTUAL RENT PAID BY EMPLOYEE TO LANDLORD 8000 P.M
PERIOD ( 1-APR TO 1-DEC)
COMPANY PROVIDE RFA FURNITURE COST 300000 WHICH WAS TAKEN ON RENT BY COMPANY RS 15000 IN WHICH 4000 RECOVERD FORM EMPLOYEE (PERIOD 1-DEC TO 31ST MARCH)

Q3. COMPUTE GROSS SALARY
Basic salary 25000 pm
Dearness allowance 21% of basic salary(46% OF UTOE)
TRIABLE AREA ALLOWANCE 1100 PM
TURNOVER COMMISSION 1% OF 5,00,000
Medical allowance 500 pm
Bonus same as salary (BASIC + DA)
His own contribution in RPF ₹7,000
Employer contribution in RPF 22% of his basic salary
Interest accrued in the RPF@14% p.a 13800
GRATUITY RECEIVED 24000
HRA RECEIVED FROM EMPLOYER 3000 P.M
ACTUAL RENT PAID BY EMPLOYEE TO LANDLORD 7500 P.M

Q4.Mr. Rana is working in RSPL and has given details of his income for PY 2019-20. You are required to compute his gross salary form the details given below:
Basic Salary ₹ 16,000 p.m.
DA (50% is for retirement benefits) ₹ 9,000 p.m.
Commission as a % of turnover 1%
Turnover during the year ₹ 4,00,000
Bonus ₹ 26,000
Gratuity ₹ 14,000
His own contribution in RPF ₹ 7,000
Employer contribution in RPF 25% of his basic s

alary
Interest accrued in the RPF@10% p.a 11400 p.a

Q5.4.Miss srishti is working in guru solution pvt ltd and has given details of his income for PY 2019-20. You are required to compute his gross salary form the details given below:
Basic Salary ₹ 33,000 p.m.
DA (60% is for retirement benefits) ₹ 8,000 p.m.
Commission as a % of turnover 3%
Turnover during the year ₹ 3,00,000
tiffin allowance 500 p.m
children Education allowance 460 for 2 child
Bonus ₹14 ,000
Gratuity ₹ 14,000
His own contribution in RPF ₹ 10,000
Employer contribution in RPF 25% of his basic salary
Interest accrued in the RPF@16% p.a 16,800 p,a