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Accenture India Hi Folks Need your advise. One of my friend has an offer from Honeywell Chicago. He is currently working in Accenture India. couple of questions if you can help me with.
1. Honeywell Offer $180,000 p.a. vs INR 20 Lakh in Accenture(due for 12% Fixed increase and 20% Variable wef Dec'22) . Is it good to join considering relocation cost and tax structure in US?
2. how is the work culture and growth opportunities in Honeywell Chicago office?
3. Any other advise pls share ?
Honeywell Accenture
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If you don't show any investments or opt for new tax regime your salary will be around 1.15 lakhs. Show investments, hra, medical insurance if any you can get 10-15k more per month. But practically you cannot utilise maximum tax benefits. If you are able to show 1.5L 80c (includes employer PF) and around 1.5 or 2L HRA your salary will max out at 1.25 lakhs, plus or minus 5k.
Also note that currently your basic salary is only around 25% of your CTC. According to new wage rule, which mandates basic salary to be 50% of your CTC. This will increase your PF amount (both Employer and employee share) and gratuity, you will end up getting around 1.15 lakh in hand even after tax investments. New wage code is supposedly to come into effect from this July but not sure when it will be properly implemented.
Your gross is 19.03 LPA. If you go with old regime and show 80C maximum savings and show House rent as well then you might get around 1.33 Lac Per month
YOE and stack ?
It will be around 1.3 lpa
Take a housing loan and buy a house in location different from state you are currently working in, that way you can get both HRA and tax deductions under section 24 for interest paid on home loan.