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Fixed: This means 1.35 fixed per month subject to 10% TDS. So, after TDS, the amount that will hit your account every month will be 1,21,500.
Bonus: Heard A0s are joining in August. So you'll have worked for about 7 months until end of financial year - bonus will be prorated for 7 out of 12 months. Which means approx. 1.05L. After 10% TDS, approx. 95k will hit your account end of March (if getting full bonus - usually that is the case for A0s).
Over and above all of this, you may given a discretionary bonus (decided by your partner) of up to 1L (prorated for the months you've worked) based on performance. This bonus comes in July/ August if you are eligible for it.
Note that if you don't have any other income, you can claim a tax refund of all the TDS in your tax filing. This refund usually comes in July/ August of the subsequent FY.
Thank you so much!
PA1s earn about 48-50 lakhs LPA as fixed component and 15-16 lakhs as bonus.
Junior partners are starting with 80 lakhs LPA as their fixed component with 20-25 lakhs bonus.
Also, what is the location? Pay might differ according to location perhaps?