CTC Circular refrence Error

[pravinlive]

Hi I tried to arrive the CTC break up.

CTC: 21K
Basic: 3K
HRA: 5K
ALLow : (CTC - ALL Components)
PF : (Basic+ALLOW)*12%
Gratuity : basic * 4.81%
CTC= Sum of All (21000)

When i don know the Allowance and the same is required by PF Calculation . How do i pick a formula

Regards,
Pravin

 

[pecoflyer]

Please explain what all these abbreviations mean?? CTC? HRA? We know how Excel works but not necessarily your technical jargon

 

[pravinlive]

Ctc - final salary (cost to company)
Hra - allowance (house rent allowance)

 

[pecoflyer]

PF?

 

[pravinlive]

Provident Fund - which Statutory benefit .. 12% on basic

 

[pravinlive]

Sorry

PF = (Basic + Allowance)*12%