Payslip – Quiz Buddy

Payslip Breakup

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Take the quiz and see if you really know where your salary goes! 💸🧾

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1 / 20

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

A. Medical Premium

B. Provident Fund

C. Insurance Premium

D. Income Tax

2 / 20

2. Why is Professional Tax deducted from salary?

A. To cover state government levies

B. To pay income tax

C. To fund retirement

D. To sponsor insurance

3 / 20

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

A. Cost To Company

B. Corporate Travel Cost

C. Common Total Compensation

D. Calculated Tax Component

4 / 20

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

A. Education Cess

B. Health Insurance Premium

C. PF Contribution

D. Life Insurance

5 / 20

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

A. Gross Pay

B. Net Salary

C. Fixed Pay

D. Total CTC

6 / 20

6. Which deduction is mandatory under Indian labor law?

A. House Rent Allowance

B. Provident Fund

C. Incentive Pay

D. Gratuity

7 / 20

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

A. Used for company investments

B. Returned to employee monthly

C. Deducted as income tax

D. Deposited to employee PF account

8 / 20

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

A. Bonus Pay

B. Overtime Pay

C. Basic Pay

D. Travel Allowance

9 / 20

9. What does Net Salary mean?

A. Actual salary after all deductions

B. Bonus before tax

C. Fixed company contribution

D. Gross salary without deductions

10 / 20

10. Why do companies give Performance Bonus?

A. For tax saving

B. For adjusting deductions

C. To increase salary

D. To retain employees

11 / 20

11. What is included in gross salary?

A. Basic + Allowances

B. Only Performance Bonus

C. Only Incentives

D. Only Basic Pay

12 / 20

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

A. To calculate annual tax only

B. To check attendance record

C. To ensure correct deductions and payments

D. To track working hours

13 / 20

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

A. Both are always equal

B. Net is higher than Gross

C. Gross includes all earnings, Net is after deductions

D. Gross is only bonus

14 / 20

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

A. Provident Fund

B. Income Tax

C. Medical Insurance

D. Professional Tax

15 / 20

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

A. Professional Tax

B. Medical Insurance

C. Health Allowance

D. Income Tax

16 / 20

16. What part of salary is taxable before deductions?

A. CTC

B. Basic Pay

C. Net Salary

D. Gross Salary

17 / 20

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

A. House Rent Allowance

B. Travel Allowance

C. Festival Bonus

D. Performance Bonus

18 / 20

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

A. Travel Allowance

B. City Allowance

C. House Rent Allowance

D. Festival Allowance

19 / 20

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

A. Housing Rent Allocation

B. Health Reimbursement Amount

C. House Rent Allowance

D. Holiday Reserve Amount

20 / 20

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

A. Fixed Allowance

B. Gross Pay

C. Basic Pay

D. Variable Pay

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