Salary / Tax questions

#1 Sep 10th, 2014, 16:57
Join Date:
Sep 2014
  • achille is offline
Hello everyone,

I'm 25, single, French citizenship (only) and live in Paris. I just graduate with a Master in finance and got an offer from an american bank to work in Whitefield in Bangalore with no duration, full time job. Before saying yes, even if the offer looks attractive and could boost my career (first job, moreover), I have some questions regarding the salary and taxes I would be borne. I've never been to India before so lifestyle and how things work there are totally new for me. I've read already many pages on this forum but still have some more questions, since this job would be my first one and I'm not familiar with this kind of offer (ie. except french salary). Ok, here we go.

a. Basic Rs 1,500,000
b. Cash Allowances Rs 1,500,000
c. Provident Fund (PF) Rs 180,000
d. Gratuity Rs 70,000
e. Fixed Salary = Rs 3,250,000
f. Variable Pay depending every year on the bank's performances.

1. Well, basically I would like to know if this salary is decent moving from Paris to Bangalore today.

2. How taxes work? I would have 30% of income tax if I'm not mistaken after some readings, based on what? a? a+b? e? e+f?

3. I've read the PF is stuck until retirement or I leave the country by the company? How does it work?

By the way, my company will offer me 3 weeks of hotel at the beginning and a relocation assistance. I also have a typical US 401k plan.

Thanks a lot for any help
#2 Oct 5th, 2014, 04:14
Join Date:
Sep 2014
  • achille is offline
Nobody knows? :/
#3 Oct 5th, 2014, 09:50
Join Date:
May 2009
  • thejag is offline
Assuming the amounts a, b and e reach your bank accounts, youre looking at clearing approximately INR 500K a month before tax deductions.

What you need to figure out I suppose is whether that will that leave you with enough to make payments into your retirement plan. I suspect you shouldn't have a problem.

came across this. It explains how the taxes are levied.

As per this there is an agreement between france and india that addresses the question of what is to be done with PF. you should look into said agreement.

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