Basic Salary

Tax Glossary Definition

Basic Salary

Basic Salary – The core portion of an employee’s pay that remains constant and excludes variable elements such as allowances, bonuses, or deductions. It forms the foundation for computing other benefits, including provident fund, house rent allowance (HRA), and gratuity.

Example: Out of a total salary of ₹60,000 per month, if ₹40,000 is designated as basic pay and ₹20,000 as various allowances, the basic salary is ₹40,000.

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