Dear Seniors, can any one guide me rules/norms to create a salary structure. Means the % of basic , DA, Fringe benefits,etc to be allocated. Regards, gupta.
From India
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Normally, the following practices are followed in industries:
Basic Salary
- Basic: 40-50% of CTC
Housing Rent Allowance (HRA)
- HRA: 40-50% of Basic
Conveyance
- Conveyance: Rs. 800/- PM
Medical Reimbursement
- Medical Reimbursement: Rs. 15,000/- PA
Leave Travel Allowance (LTA)
- LTA: One month's Basic PA
Performance Bonus
- Performance Bonus: 5-20% of Gross or CTC
Provident Fund/Gratuity
- PF/Gratuity as per the Act.
Special Allowance
- Special Allowance: An amount that cannot be adjusted anywhere and is used to bring the salary to the desired amount.
Regards,
Vinod Bidwaik
From India, Pune
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124Basic Salary
- Basic: 40-50% of CTC
Housing Rent Allowance (HRA)
- HRA: 40-50% of Basic
Conveyance
- Conveyance: Rs. 800/- PM
Medical Reimbursement
- Medical Reimbursement: Rs. 15,000/- PA
Leave Travel Allowance (LTA)
- LTA: One month's Basic PA
Performance Bonus
- Performance Bonus: 5-20% of Gross or CTC
Provident Fund/Gratuity
- PF/Gratuity as per the Act.
Special Allowance
- Special Allowance: An amount that cannot be adjusted anywhere and is used to bring the salary to the desired amount.
Regards,
Vinod Bidwaik
From India, Pune
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Salary & Compensation Guidelines.zip
Creating a Competitive Salary Structure.doc
Compensation Structure.ppt