Question

What do you think should be the basis of determining the structure of pay, allowances and other facilities/benefits for various catagories of employees?

Answer 1

Components of Salary

Money that is received under Employer-Employee relationship is called as  Salary. If one is freelancer or is hired by an organization on contract basis, their income would not be treated as salary income. In such case the  income is treated as income from business and profession. The salary consists of following parts.