Payslip – Quiz Buddy

Payslip Breakup

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

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1 / 20

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

A. Calculated Tax Component

B. Cost To Company

C. Corporate Travel Cost

D. Common Total Compensation

2 / 20

2. What part of salary is taxable before deductions?

A. Gross Salary

B. CTC

C. Net Salary

D. Basic Pay

3 / 20

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

A. Fixed Allowance

B. Gross Pay

C. Variable Pay

D. Basic Pay

4 / 20

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

A. Gross Pay

B. Fixed Pay

C. Total CTC

D. Net Salary

5 / 20

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

A. Travel Allowance

B. City Allowance

C. Festival Allowance

D. House Rent Allowance

6 / 20

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

A. Both are always equal

B. Gross includes all earnings, Net is after deductions

C. Net is higher than Gross

D. Gross is only bonus

7 / 20

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

A. Deducted as income tax

B. Used for company investments

C. Deposited to employee PF account

D. Returned to employee monthly

8 / 20

8. Why do companies give Performance Bonus?

A. To retain employees

B. For adjusting deductions

C. To increase salary

D. For tax saving

9 / 20

9. Which deduction is mandatory under Indian labor law?

A. Incentive Pay

B. House Rent Allowance

C. Gratuity

D. Provident Fund

10 / 20

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

A. Medical Insurance

B. Income Tax

C. Professional Tax

D. Health Allowance

11 / 20

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

A. House Rent Allowance

B. Festival Bonus

C. Performance Bonus

D. Travel Allowance

12 / 20

12. Why is Professional Tax deducted from salary?

A. To pay income tax

B. To fund retirement

C. To sponsor insurance

D. To cover state government levies

13 / 20

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

A. Overtime Pay

B. Travel Allowance

C. Basic Pay

D. Bonus Pay

14 / 20

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

A. Insurance Premium

B. Provident Fund

C. Income Tax

D. Medical Premium

15 / 20

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

A. To check attendance record

B. To ensure correct deductions and payments

C. To track working hours

D. To calculate annual tax only

16 / 20

16. What does Net Salary mean?

A. Actual salary after all deductions

B. Gross salary without deductions

C. Bonus before tax

D. Fixed company contribution

17 / 20

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

A. Provident Fund

B. Medical Insurance

C. Professional Tax

D. Income Tax

18 / 20

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

A. Health Insurance Premium

B. Education Cess

C. PF Contribution

D. Life Insurance

19 / 20

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

A. Holiday Reserve Amount

B. Housing Rent Allocation

C. House Rent Allowance

D. Health Reimbursement Amount

20 / 20

20. What is included in gross salary?

A. Only Basic Pay

B. Only Performance Bonus

C. Only Incentives

D. Basic + Allowances

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