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 helps save tax when you pay rent?

A. Festival Bonus

B. House Rent Allowance

C. Performance Bonus

D. Travel Allowance

2 / 20

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

A. Insurance Premium

B. Medical Premium

C. Provident Fund

D. Income Tax

3 / 20

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

A. To ensure correct deductions and payments

B. To calculate annual tax only

C. To track working hours

D. To check attendance record

4 / 20

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

A. Both are always equal

B. Net is higher than Gross

C. Gross is only bonus

D. Gross includes all earnings, Net is after deductions

5 / 20

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

A. Gross Pay

B. Basic Pay

C. Variable Pay

D. Fixed Allowance

6 / 20

6. Why do companies give Performance Bonus?

A. For tax saving

B. For adjusting deductions

C. To increase salary

D. To retain employees

7 / 20

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

A. Returned to employee monthly

B. Deposited to employee PF account

C. Used for company investments

D. Deducted as income tax

8 / 20

8. What part of salary is taxable before deductions?

A. Net Salary

B. CTC

C. Basic Pay

D. Gross Salary

9 / 20

9. 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

10 / 20

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

A. Professional Tax

B. Medical Insurance

C. Provident Fund

D. Income Tax

11 / 20

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

A. Festival Allowance

B. Travel Allowance

C. City Allowance

D. House Rent Allowance

12 / 20

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

A. Life Insurance

B. Education Cess

C. Health Insurance Premium

D. PF Contribution

13 / 20

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

A. Overtime Pay

B. Bonus Pay

C. Basic Pay

D. Travel Allowance

14 / 20

14. What does Net Salary mean?

A. Bonus before tax

B. Gross salary without deductions

C. Fixed company contribution

D. Actual salary after all deductions

15 / 20

15. Which deduction is mandatory under Indian labor law?

A. Provident Fund

B. Gratuity

C. House Rent Allowance

D. Incentive Pay

16 / 20

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

A. Net Salary

B. Fixed Pay

C. Gross Pay

D. Total CTC

17 / 20

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

A. Medical Insurance

B. Income Tax

C. Professional Tax

D. Health Allowance

18 / 20

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

A. Housing Rent Allocation

B. House Rent Allowance

C. Health Reimbursement Amount

D. Holiday Reserve Amount

19 / 20

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

A. Common Total Compensation

B. Cost To Company

C. Corporate Travel Cost

D. Calculated Tax Component

20 / 20

20. What is included in gross salary?

A. Only Basic Pay

B. Only Incentives

C. Only Performance Bonus

D. Basic + Allowances

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