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. Why is Professional Tax deducted from salary?

A. To sponsor insurance

B. To fund retirement

C. To pay income tax

D. To cover state government levies

2 / 20

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

A. To check attendance record

B. To track working hours

C. To ensure correct deductions and payments

D. To calculate annual tax only

3 / 20

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

A. Corporate Travel Cost

B. Cost To Company

C. Calculated Tax Component

D. Common Total Compensation

4 / 20

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

A. Health Reimbursement Amount

B. House Rent Allowance

C. Housing Rent Allocation

D. Holiday Reserve Amount

5 / 20

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

A. City Allowance

B. Travel Allowance

C. House Rent Allowance

D. Festival Allowance

6 / 20

6. What is included in gross salary?

A. Only Basic Pay

B. Only Incentives

C. Basic + Allowances

D. Only Performance Bonus

7 / 20

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

A. Basic Pay

B. Variable Pay

C. Fixed Allowance

D. Gross Pay

8 / 20

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

A. Bonus Pay

B. Basic Pay

C. Travel Allowance

D. Overtime Pay

9 / 20

9. Which deduction is mandatory under Indian labor law?

A. House Rent Allowance

B. Gratuity

C. Provident Fund

D. Incentive Pay

10 / 20

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

A. Medical Insurance

B. Professional Tax

C. Health Allowance

D. Income Tax

11 / 20

11. What part of salary is taxable before deductions?

A. Net Salary

B. Basic Pay

C. CTC

D. Gross Salary

12 / 20

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

A. Travel Allowance

B. Festival Bonus

C. Performance Bonus

D. House Rent Allowance

13 / 20

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

A. Net Salary

B. Gross Pay

C. Total CTC

D. Fixed Pay

14 / 20

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

A. Both are always equal

B. Gross is only bonus

C. Net is higher than Gross

D. Gross includes all earnings, Net is after deductions

15 / 20

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

A. Provident Fund

B. Medical Premium

C. Insurance Premium

D. Income Tax

16 / 20

16. What does Net Salary mean?

A. Bonus before tax

B. Actual salary after all deductions

C. Fixed company contribution

D. Gross salary without deductions

17 / 20

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

A. Education Cess

B. Health Insurance Premium

C. Life Insurance

D. PF Contribution

18 / 20

18. Why do companies give Performance Bonus?

A. To retain employees

B. For adjusting deductions

C. For tax saving

D. To increase salary

19 / 20

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

A. Provident Fund

B. Income Tax

C. Professional Tax

D. Medical Insurance

20 / 20

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

A. Deducted as income tax

B. Deposited to employee PF account

C. Used for company investments

D. Returned to employee monthly

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