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 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

2 / 20

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

A. Education Cess

B. PF Contribution

C. Life Insurance

D. Health Insurance Premium

3 / 20

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

A. Insurance Premium

B. Provident Fund

C. Income Tax

D. Medical Premium

4 / 20

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

A. Medical Insurance

B. Professional Tax

C. Provident Fund

D. Income Tax

5 / 20

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

A. Travel Allowance

B. House Rent Allowance

C. Performance Bonus

D. Festival Bonus

6 / 20

6. Why do companies give Performance Bonus?

A. To increase salary

B. For tax saving

C. To retain employees

D. For adjusting deductions

7 / 20

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

A. Gross Pay

B. Basic Pay

C. Variable Pay

D. Fixed Allowance

8 / 20

8. 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

9 / 20

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

A. House Rent Allowance

B. City Allowance

C. Travel Allowance

D. Festival Allowance

10 / 20

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

A. Bonus Pay

B. Basic Pay

C. Overtime Pay

D. Travel Allowance

11 / 20

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

A. Health Allowance

B. Medical Insurance

C. Income Tax

D. Professional Tax

12 / 20

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

A. Fixed Pay

B. Gross Pay

C. Net Salary

D. Total CTC

13 / 20

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

A. Used for company investments

B. Deducted as income tax

C. Returned to employee monthly

D. Deposited to employee PF account

14 / 20

14. What is included in gross salary?

A. Basic + Allowances

B. Only Basic Pay

C. Only Incentives

D. Only Performance Bonus

15 / 20

15. 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. Both are always equal

D. Net is higher than Gross

16 / 20

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

A. To track working hours

B. To ensure correct deductions and payments

C. To check attendance record

D. To calculate annual tax only

17 / 20

17. What part of salary is taxable before deductions?

A. Net Salary

B. Basic Pay

C. CTC

D. Gross Salary

18 / 20

18. Why is Professional Tax deducted from salary?

A. To pay income tax

B. To fund retirement

C. To cover state government levies

D. To sponsor insurance

19 / 20

19. What does Net Salary mean?

A. Actual salary after all deductions

B. Fixed company contribution

C. Gross salary without deductions

D. Bonus before tax

20 / 20

20. Which deduction is mandatory under Indian labor law?

A. Provident Fund

B. House Rent Allowance

C. Incentive Pay

D. Gratuity

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