Dear,
I need a clear-cut CTC format (PF & ESI, other statutory compliance cutting %) in compliance with Andhra Pradesh state government norms. One is an administrative office, and the second one is a software development company.
From India, Hyderabad
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I need a clear-cut CTC format (PF & ESI, other statutory compliance cutting %) in compliance with Andhra Pradesh state government norms. One is an administrative office, and the second one is a software development company.
From India, Hyderabad
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Dear Buchiraju,
State governments do not stipulate any CTC pattern of salary for any establishment. What is prescribed by the state governments under the Minimum Wages Act for different categories of employees are minimum comprising Basic wages + FDA/VDA. The rest of the allowances are fixed by the respective establishments as per their HR policies. CTC patterns are not common for every establishment as they are not compulsory. In fact, they consist of statutory and other benefits due to employees such as bonus (at least 8.33%), gratuity (equivalent to 15 days' salary for every year of completed service), employers' contribution to employees' EPF accounts, etc., but these are not payable along with monthly salary payments. Rates of EPF (12% + 12%) and ESIC (1.75% recovered from employees and 4.75% by employers) are also applicable. There are other components as well that are not fixed.
Thank you.
From India, Bangalore
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1274State governments do not stipulate any CTC pattern of salary for any establishment. What is prescribed by the state governments under the Minimum Wages Act for different categories of employees are minimum comprising Basic wages + FDA/VDA. The rest of the allowances are fixed by the respective establishments as per their HR policies. CTC patterns are not common for every establishment as they are not compulsory. In fact, they consist of statutory and other benefits due to employees such as bonus (at least 8.33%), gratuity (equivalent to 15 days' salary for every year of completed service), employers' contribution to employees' EPF accounts, etc., but these are not payable along with monthly salary payments. Rates of EPF (12% + 12%) and ESIC (1.75% recovered from employees and 4.75% by employers) are also applicable. There are other components as well that are not fixed.
Thank you.
From India, Bangalore
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Dear Kumar S, thanks for the info, i want to know the CTC structure with and without PF component. let us say if i offered 500000 annual CTC, please tell me the structure with PF and without PF
From India, Hyderabad
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From India, Hyderabad
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Such requirements have been addressed many times in this forum. Please use the search box at the top of this screen, and you'll find the information you need.
However, kindly make use of the attached Excel sheet, models, and specimens. Feel free to modify them as you see fit.
From India, Bangalore
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However, kindly make use of the attached Excel sheet, models, and specimens. Feel free to modify them as you see fit.
From India, Bangalore
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