Payslip – Quiz Buddy

Payslip Breakup

💼 Can you decode your payslip?
Take the quiz and see if you really know where your salary goes! 💸🧾

Please Enter Below Details:

1 / 20

1. What does CTC stand for in a salary slip?

A. Corporate Travel Cost

B. Calculated Tax Component

C. Common Total Compensation

D. Cost To Company

2 / 20

2. Which component is deducted from salary to fund employee pension?

A. Professional Tax

B. Medical Insurance

C. Provident Fund

D. Income Tax

3 / 20

3. Why should employees check their salary slip every month?

A. To calculate annual tax only

B. To track working hours

C. To check attendance record

D. To ensure correct deductions and payments

4 / 20

4. What is included in gross salary?

A. Only Performance Bonus

B. Basic + Allowances

C. Only Basic Pay

D. Only Incentives

5 / 20

5. Why do companies give Performance Bonus?

A. For tax saving

B. To increase salary

C. For adjusting deductions

D. To retain employees

6 / 20

6. Which part of the salary includes overtime or incentives?

A. Variable Pay

B. Gross Pay

C. Basic Pay

D. Fixed Allowance

7 / 20

7. Which deduction is linked to medical and healthcare coverage?

A. Health Insurance Premium

B. Education Cess

C. PF Contribution

D. Life Insurance

8 / 20

8. Which deduction is mandatory under Indian labor law?

A. Gratuity

B. House Rent Allowance

C. Incentive Pay

D. Provident Fund

9 / 20

9. What is the full form of HRA in a salary slip?

A. Health Reimbursement Amount

B. Housing Rent Allocation

C. Holiday Reserve Amount

D. House Rent Allowance

10 / 20

10. What does Net Salary mean?

A. Fixed company contribution

B. Bonus before tax

C. Actual salary after all deductions

D. Gross salary without deductions

11 / 20

11. What part of salary is taxable before deductions?

A. CTC

B. Basic Pay

C. Net Salary

D. Gross Salary

12 / 20

12. Which salary component helps save tax when you pay rent?

A. Festival Bonus

B. Performance Bonus

C. Travel Allowance

D. House Rent Allowance

13 / 20

13. Which component varies based on company and state rules?

A. Professional Tax

B. Health Allowance

C. Medical Insurance

D. Income Tax

14 / 20

14. Why is Professional Tax deducted from salary?

A. To fund retirement

B. To pay income tax

C. To sponsor insurance

D. To cover state government levies

15 / 20

15. Which allowance is provided for house rent in salary?

A. Travel Allowance

B. Festival Allowance

C. House Rent Allowance

D. City Allowance

16 / 20

16. What is the difference between Gross Salary and Net Salary?

A. Gross is only bonus

B. Gross includes all earnings, Net is after deductions

C. Net is higher than Gross

D. Both are always equal

17 / 20

17. Which deduction is made for retirement savings in India?

A. Provident Fund

B. Medical Premium

C. Insurance Premium

D. Income Tax

18 / 20

18. What happens to the Provident Fund amount deducted from salary?

A. Used for company investments

B. Deposited to employee PF account

C. Deducted as income tax

D. Returned to employee monthly

19 / 20

19. Which part of the salary is the actual take-home pay?

A. Gross Pay

B. Fixed Pay

C. Total CTC

D. Net Salary

20 / 20

20. Which salary component is fixed every month without change?

A. Travel Allowance

B. Basic Pay

C. Overtime Pay

D. Bonus Pay

Your score is

Exit

Kindly Provide Your Valuable Feedback:

Anonymous feedback

Thank you for your feedback.

Report a question

Please Enter Below Details: