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The basic income guarantee (BIG) is a government insured guarantee that no citizen's income will fall below some minimal level for any reason. All citizens would receive a BIG without means test or work requirement.
Generally, basic salary is fixed between 30% to 50% of total salary. It is done so that employee can get an appropriate tax exemption as well as retirement benefit. 2. House Rent Allowance (HRA) â HRA is basically an allowance, which forms a part of oneâs taxable salary.It is in the range of the 40% or 50% of basic salary. It is not mandatory for the employer to give HRA.But, if an employer chooses to offer the allowance as part of salary then employee may get some part of it as tax-free if the employee satisfies certain conditions. 3.enerally, basic salary is fixed between 30% to 50% of total salary. It is done so that employee can get an appropriate tax exemption as well as retirement benefit. 2. House Rent Allowance (HRA) â HRA is basically an allowance, which forms a part of oneâs taxable salary.