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. Which salary component is fixed every month without change?

A. Basic Pay

B. Bonus Pay

C. Travel Allowance

D. Overtime Pay

2 / 20

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

A. Corporate Travel Cost

B. Common Total Compensation

C. Calculated Tax Component

D. Cost To Company

3 / 20

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

A. Medical Insurance

B. Health Allowance

C. Professional Tax

D. Income Tax

4 / 20

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

A. House Rent Allowance

B. Festival Bonus

C. Performance Bonus

D. Travel Allowance

5 / 20

5. Which deduction is mandatory under Indian labor law?

A. House Rent Allowance

B. Incentive Pay

C. Gratuity

D. Provident Fund

6 / 20

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

A. Variable Pay

B. Basic Pay

C. Fixed Allowance

D. Gross Pay

7 / 20

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

A. To track working hours

B. To check attendance record

C. To calculate annual tax only

D. To ensure correct deductions and payments

8 / 20

8. What is included in gross salary?

A. Only Basic Pay

B. Basic + Allowances

C. Only Performance Bonus

D. Only Incentives

9 / 20

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

A. Holiday Reserve Amount

B. Housing Rent Allocation

C. Health Reimbursement Amount

D. House Rent Allowance

10 / 20

10. Why is Professional Tax deducted from salary?

A. To cover state government levies

B. To sponsor insurance

C. To fund retirement

D. To pay income tax

11 / 20

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

A. Health Insurance Premium

B. Life Insurance

C. Education Cess

D. PF Contribution

12 / 20

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

A. Travel Allowance

B. House Rent Allowance

C. City Allowance

D. Festival Allowance

13 / 20

13. 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

14 / 20

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

A. Returned to employee monthly

B. Used for company investments

C. Deducted as income tax

D. Deposited to employee PF account

15 / 20

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

A. Income Tax

B. Provident Fund

C. Medical Insurance

D. Professional Tax

16 / 20

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

A. Insurance Premium

B. Medical Premium

C. Income Tax

D. Provident Fund

17 / 20

17. What part of salary is taxable before deductions?

A. Net Salary

B. CTC

C. Basic Pay

D. Gross Salary

18 / 20

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

A. Gross Pay

B. Total CTC

C. Fixed Pay

D. Net Salary

19 / 20

19. What does Net Salary mean?

A. Bonus before tax

B. Gross salary without deductions

C. Actual salary after all deductions

D. Fixed company contribution

20 / 20

20. Why do companies give Performance Bonus?

A. To retain employees

B. For tax saving

C. For adjusting deductions

D. To increase salary

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