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All, what would you prefer or beneficial to have high basic salary (which links to ppf etc..) or variables component to save on tax?

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They're not mutually exclusive

Yes but as every company structure/offers are different so which offer you would opt?

1. Offer with high basic sal compare to variables (which would increase your pf, hra)
2. Offer with low basic sal compare to high variables component (which you can save tax)

I already said they are not mutually exclusive. Suppose fixed is 10L of which basic is 4L(which is high itself) HRA is 2L, there's still room for 4L to be allocated for flexible pay

Higher retiral should always be preferred because of tax saving.
But your premise is not correct. How much flexible pay can you take as tax free component? Not more than 2L. Hence case 2 makes no sense

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