Jeroo, I will try to get the salary slip without the company details to be posted here. I will do it tomorrow.
From India
14From India
Dear All,
The actual salary slip cannot be posted due to company confidentiality; hence, I am posting the salary slip details here.
First Column:
- Basic: XXXXX
- HRA: XXXX
- Conveyance: 800
- Medical: 1250
- Flexi benefit plan: XXXXX
- PF employer contribution: 2268
- Total: XXXXX
Second Column:
- PF: 2268
- PF employer contribution: 2268
- PT: 200
- Income Tax: XXXX
- Other deductions: XXX
- Gross deductions: XXXX
- Net pay: XXXXX
Hope this will help you.
Regards,
Praveen
From India
The actual salary slip cannot be posted due to company confidentiality; hence, I am posting the salary slip details here.
First Column:
- Basic: XXXXX
- HRA: XXXX
- Conveyance: 800
- Medical: 1250
- Flexi benefit plan: XXXXX
- PF employer contribution: 2268
- Total: XXXXX
Second Column:
- PF: 2268
- PF employer contribution: 2268
- PT: 200
- Income Tax: XXXX
- Other deductions: XXX
- Gross deductions: XXXX
- Net pay: XXXXX
Hope this will help you.
Regards,
Praveen
From India
Employer contribution to PF is not a part of the monthly gross salary; however, it can be added to the annual component while preparing CTC since it is a cost that is incurred by the company towards its employees.
Regards,
Asitosh Sharma
From India, Pune
Regards,
Asitosh Sharma
From India, Pune
Dear Praveen,
Employer contribution of PF cannot be a part of your GROSS SALARY. It can only be considered as part of your CTC. Please remember that PF deduction for workers earning 6500+ basic is voluntary. You might have agreed to this deduction at the time of joining and thus they are deducting it from your salary. However, the employer's share of PF can never be a part of Gross Salary. If the above is applicable, they should have shown it differently rather than including it as a part of Gross Salary.
Thank you,
Sweety Singh
From India, Delhi
Employer contribution of PF cannot be a part of your GROSS SALARY. It can only be considered as part of your CTC. Please remember that PF deduction for workers earning 6500+ basic is voluntary. You might have agreed to this deduction at the time of joining and thus they are deducting it from your salary. However, the employer's share of PF can never be a part of Gross Salary. If the above is applicable, they should have shown it differently rather than including it as a part of Gross Salary.
Thank you,
Sweety Singh
From India, Delhi
I went through the contents on ESI topic and still have a doubt on it. So, perhaps someone can assist me on that front.
For ESI to be applicable, should the company have at least 20 persons and more drawing a salary of Rs 10,000/- per month (gross)? OR For ESI to be applicable, the company should have a strength of 20 persons and more with a few employees drawing Rs 10,000/- per month (gross).
In my company, we have a total of 20 persons in various salary ranges. So, will EPF be applicable to us or ESI? I am mightily confused on this front.
From India, Delhi
For ESI to be applicable, should the company have at least 20 persons and more drawing a salary of Rs 10,000/- per month (gross)? OR For ESI to be applicable, the company should have a strength of 20 persons and more with a few employees drawing Rs 10,000/- per month (gross).
In my company, we have a total of 20 persons in various salary ranges. So, will EPF be applicable to us or ESI? I am mightily confused on this front.
From India, Delhi
Dear Praveen,
In all the MNC companies, normally I have seen the CTC is always inclusive of Employee PF + Employers PF as both the components are a cost to the company. That is why we have to be very careful while negotiating the package. :)
Regards,
Sonia.
From India, Mumbai
In all the MNC companies, normally I have seen the CTC is always inclusive of Employee PF + Employers PF as both the components are a cost to the company. That is why we have to be very careful while negotiating the package. :)
Regards,
Sonia.
From India, Mumbai
Dear All,
CTC stands for the total cost to the company. There are three parts in the salary structure:
1. Net salary, which is your take-home salary after all deductions.
2. Gross Salary
3. CTC
From the gross salary of the employees, PF contribution is deducted, and that needs to be discussed at the time of the interview. It is always advisable to ask for your take-home salary after all deductions.
The CTC component may include everything, including LTA, medical reimbursement, medical insurance, canteen, mobiles, petrol, uniform, etc.
Regards
From India, Delhi
CTC stands for the total cost to the company. There are three parts in the salary structure:
1. Net salary, which is your take-home salary after all deductions.
2. Gross Salary
3. CTC
From the gross salary of the employees, PF contribution is deducted, and that needs to be discussed at the time of the interview. It is always advisable to ask for your take-home salary after all deductions.
The CTC component may include everything, including LTA, medical reimbursement, medical insurance, canteen, mobiles, petrol, uniform, etc.
Regards
From India, Delhi
Thank you, Mr. Akhil... :D
Dear New Entrant,
The formality for ESI is that you must have a minimum of 20 employees, regardless of whether they are earning a salary of more than Rs. 10,000 or less. The maximum ceiling for ESI contribution is up to Rs. 10,000 Gross/Month only. Those earning Rs. 10,001 or more will be exempted from ESI.
I hope this clarifies things for you.
Regards,
Amit Seth.
From India, Ahmadabad
Dear New Entrant,
The formality for ESI is that you must have a minimum of 20 employees, regardless of whether they are earning a salary of more than Rs. 10,000 or less. The maximum ceiling for ESI contribution is up to Rs. 10,000 Gross/Month only. Those earning Rs. 10,001 or more will be exempted from ESI.
I hope this clarifies things for you.
Regards,
Amit Seth.
From India, Ahmadabad
Thank you, Amit,
It has cleared my doubt. I have another query. The company has just completed 1 year and has a current strength of 20 people. It doesn't have ESI or EPF arrangements as of now. They will start with it this month. But, the strength of 20 employees was reached in October '07. Do we pay a penalty?
Since we have 20 persons with us, should we go for ESI or EPF? Which one would be applicable for us, ESI or EPF?
Thanks in advance.
Regards,
From India, Delhi
It has cleared my doubt. I have another query. The company has just completed 1 year and has a current strength of 20 people. It doesn't have ESI or EPF arrangements as of now. They will start with it this month. But, the strength of 20 employees was reached in October '07. Do we pay a penalty?
Since we have 20 persons with us, should we go for ESI or EPF? Which one would be applicable for us, ESI or EPF?
Thanks in advance.
Regards,
From India, Delhi
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GROSS SALARY&CTC FOR 15500.xls