What is Fixed Allowance, and why is it in the payslip and salary structure?
A Fixed Allowance in India refers to a specific part of the salary that is paid to an employee regularly. It is an additional payment apart from the employee’s basic salary as a part of the overall compensation package.
In other words, Fixed Allowance compensates the balance amount between the actual CTC and the CTC value entered in the employee’s salary details.
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