For people living in metro cities: 50% of Basic salary + Dearness allowance non-metro cities: 40% of Basic salary + Dearness allowance.HRA can help you save money on taxes.Īccording to rule 2A under Section 10 (13A), the one which amounts the least is exempted. The amount of HRA varies by location and ranges from 40 to 50 percent of base pay. ‍ House Rent Allowance (HRA): This is an allowance to assist people in paying their rent. It is completely taxable and also acts as a foundation for calculating the other aspects of pay.ĭearness Allowance (DA): It is a percentage of your base pay that is granted to help offset the effects of inflation, it is fully taxable. ‍Basic Salary: This is the most essential component of your salary, accounting for up to 35 - 40% of your total pay. Helping you understand the key elements that contribute to your financial compensation. The Bank of India and its affiliates, subsidiaries, employees, officers, directors and agents shall not be liable for any loss, claim or damage whatsoever including in the event of deficiency in the service of such third party websites and for any consequences of error or failure of internet connection equipment hardware or software used to access the third party website through this link, slowdown or breakdown of third party website for any reason including and resulting from the act or omission of any other party involved in making this site or the data contained therein available to you including for any misuse of the Password, login ID or other confidential security information used to login to this website or from any other cause relating to your access to, inability to access, or use of the site or these materials in accordance thereto Bank of India and all its related parties described hereinabove stand indemnified from all proceedings or matters arising thereto.īy preceding further to access the said website it is presumed that you have agreed to the above and also the other terms and conditions applicable.In this section, we will gain more clarity about the different components of a salary slip.

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Us salary slip format