Dear All,
I am new in the HR field and confused about how to maintain the salary structure of our employees in my organization's HR department, as I am also new. Please help me with how I should prepare their revised salary, CTC, PF, and Bonus.
Thank you.
From India, Mumbai
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I am new in the HR field and confused about how to maintain the salary structure of our employees in my organization's HR department, as I am also new. Please help me with how I should prepare their revised salary, CTC, PF, and Bonus.
Thank you.
From India, Mumbai
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Hi Pallavi,
Do you have technology deployed at your firm? If yes, you could maintain it on the payroll module. Otherwise, you could make use of Excel. However, that would be a tedious process unless you have a defined salary structure for employees at specific levels.
Regards...
From India, Mumbai
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8Do you have technology deployed at your firm? If yes, you could maintain it on the payroll module. Otherwise, you could make use of Excel. However, that would be a tedious process unless you have a defined salary structure for employees at specific levels.
Regards...
From India, Mumbai
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Hi Pallavi, Attached is a sample salary structure for your reference. Thanks
From India, Faridabad
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From India, Faridabad
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Hi Sumit,
Thanks for your reply. It was very useful for me, but I have one doubt. How should I maintain the revised salary records and which software is good? Our organization is considering purchasing a software package.
From India, Mumbai
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Thanks for your reply. It was very useful for me, but I have one doubt. How should I maintain the revised salary records and which software is good? Our organization is considering purchasing a software package.
From India, Mumbai
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Hi Pallavi,
I hope my information regarding a technology/software was useful. I would strongly recommend Smileserm (IBM award winner 2008). It's a fantastic software with the option of customizing it to your organization. You could call 09820389180, and they could arrange an online demo for you. Hope it helps! All the best.
From India, Mumbai
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I hope my information regarding a technology/software was useful. I would strongly recommend Smileserm (IBM award winner 2008). It's a fantastic software with the option of customizing it to your organization. You could call 09820389180, and they could arrange an online demo for you. Hope it helps! All the best.
From India, Mumbai
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Hi Pallavi,
There are a lot of software packages, and I can suggest the best fit as per your requirements and budget if you can provide me with a bullet point idea. Please do write back for any other queries as well!
Thanks.
From India, Faridabad
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There are a lot of software packages, and I can suggest the best fit as per your requirements and budget if you can provide me with a bullet point idea. Please do write back for any other queries as well!
Thanks.
From India, Faridabad
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Hi Sumit,
Thanks for reaching out. Our organization was established in 2006, and currently, we have 25 employees, some on a contract basis and others on a permanent basis. Before my tenure, all records were maintained manually as there was no HR department. Now, I am maintaining records in Excel, but it is quite tedious. I am struggling to neatly organize salary breakdowns and revised salary information. Could you please suggest the best software that I can propose to my company for purchase? I am also unfamiliar with PF and related matters.
From India, Mumbai
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Thanks for reaching out. Our organization was established in 2006, and currently, we have 25 employees, some on a contract basis and others on a permanent basis. Before my tenure, all records were maintained manually as there was no HR department. Now, I am maintaining records in Excel, but it is quite tedious. I am struggling to neatly organize salary breakdowns and revised salary information. Could you please suggest the best software that I can propose to my company for purchase? I am also unfamiliar with PF and related matters.
From India, Mumbai
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Dear Pallavi,
FYI
[B][SIZE=2][FONT=Arial]Annexure Name: Grade: Designation: Location: WEF: Monthly Payments Amount (Rs.) Basic (Max up to 25% of ATC) 1500 HRA (60% of Basic) / If CLA (will include monthly house rent & 10% interest on deposit paid by comp.) 900 Transport Allowance 800 Adhoc Allowance 2165 Food Coupons - Driver Reimbursement - Gross Per Month (GPM) 5365 GPM 5365 Gross Per Annum (GPA) = {GPM*12} 64380 PF 180 Annual Payments ESIC 94 Ex-Gratia 1500 Medical Reimbursement 0 PT 40 Leave Travel Allowance - Tot Deduction 314 Retirals Net 5051 Provident Fund as per Act (Employer's Contribution) 2160 Superannuation Fund -(Optional & only for PRIL employees) Annual Total Cost (ATC) = {GPA +Annual Payments + Retirals} 68040 Annual Total Employment Cost (ATEC)={ATC +Reimbursable benefits} 68040
Affiliation Perks House Loan Interest Subsidy - On confirmation - Gratuity (As per Act) accruable after 5 yrs (maximum payout - 350000/-) 866 Hospitalisation (Medical Insurance) floating cover for self+ spouse+ 2 children+ parents, Applicable for non ESIC members-Averaged Premium amount 0 ESIC (Employer's contribution - Applicable if GPM is less than or equal to Rs. 10000/-) 3058 Group Term Life Insurance-Premium amount 160 Life Security Plan-Premium amount - Total Cost to Company excluding Variable Pay 72124 Total Cost to Company (TCTC)={ATEC + Affiliation Perks+Variable Pay} 72124
Name: X
Deputy Manager - Human Resources
Aparajita
From India, Guwahati
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FYI
[B][SIZE=2][FONT=Arial]Annexure Name: Grade: Designation: Location: WEF: Monthly Payments Amount (Rs.) Basic (Max up to 25% of ATC) 1500 HRA (60% of Basic) / If CLA (will include monthly house rent & 10% interest on deposit paid by comp.) 900 Transport Allowance 800 Adhoc Allowance 2165 Food Coupons - Driver Reimbursement - Gross Per Month (GPM) 5365 GPM 5365 Gross Per Annum (GPA) = {GPM*12} 64380 PF 180 Annual Payments ESIC 94 Ex-Gratia 1500 Medical Reimbursement 0 PT 40 Leave Travel Allowance - Tot Deduction 314 Retirals Net 5051 Provident Fund as per Act (Employer's Contribution) 2160 Superannuation Fund -(Optional & only for PRIL employees) Annual Total Cost (ATC) = {GPA +Annual Payments + Retirals} 68040 Annual Total Employment Cost (ATEC)={ATC +Reimbursable benefits} 68040
Affiliation Perks House Loan Interest Subsidy - On confirmation - Gratuity (As per Act) accruable after 5 yrs (maximum payout - 350000/-) 866 Hospitalisation (Medical Insurance) floating cover for self+ spouse+ 2 children+ parents, Applicable for non ESIC members-Averaged Premium amount 0 ESIC (Employer's contribution - Applicable if GPM is less than or equal to Rs. 10000/-) 3058 Group Term Life Insurance-Premium amount 160 Life Security Plan-Premium amount - Total Cost to Company excluding Variable Pay 72124 Total Cost to Company (TCTC)={ATEC + Affiliation Perks+Variable Pay} 72124
Name: X
Deputy Manager - Human Resources
Aparajita
From India, Guwahati
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Dear all, Can you inform me the amount i will i get after withdrawal. 500/- per month have been deducted during 11 months. basic was 4500/- with regards samir
From India, Calcutta
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From India, Calcutta
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Dear Friends, You can also maintain xcell sheet for the salary record, in xcell you can keepp the record till the year
From India, Ahmadabad
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From India, Ahmadabad
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Hi Ashish, PT is deducted in some specific states only, therefore its not mentioned here. This sheet is basically for the Delhi / NCR Guys.
From India, Faridabad
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From India, Faridabad
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hi pallavi, u can take the info from sumit mail, in her file everything mentioned and its really gud one.
From India, Madras
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From India, Madras
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Hi All,
I am new to this forum. I am working as Head Specialization-HR (Faculty) in a Management College in Pune. I would like to work as a freelancer in recruitment so that after gaining some experience, I may shift to the industry. Can anyone please suggest how to go about this?
Regards, Nidhi Khare
From India, Mumbai
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I am new to this forum. I am working as Head Specialization-HR (Faculty) in a Management College in Pune. I would like to work as a freelancer in recruitment so that after gaining some experience, I may shift to the industry. Can anyone please suggest how to go about this?
Regards, Nidhi Khare
From India, Mumbai
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Hi Summit Can you please confirm whether Rs6,250.00 P/M as conveyance is non taxable subject to provision of bills. If so I would like to re design our salary structure. Regards Srinivasan
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Hi Srinivasan,
It is certainly nontaxable if paid out as a reimbursement. The employee will enjoy tax benefits as this would not form a part of the taxable income of the salary. However, as an employer, the company shall pay a Fringe Benefit Tax of 6.78% on the total amount of reimbursement paid to its employees.
The best thing to do is to ask the employee about the kind of bills that he/she can provide; the most common of them are:
- Medical (Up to a limit of INR 1250 per month)
- Conveyance (Allowed bills are fuel, car driver salary receipts, vehicle servicing bills)
- Telephone (Mobile & Landline bills in the name of the employee & prepaid recharge bills)
- Books & Periodicals
One good thing about a tax-friendly salary structure is that the total amount of Reimbursements should not exceed 25% of the total gross salary of the employee.
Should you have any queries, please feel free to revert.
Thanks
From India, Faridabad
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It is certainly nontaxable if paid out as a reimbursement. The employee will enjoy tax benefits as this would not form a part of the taxable income of the salary. However, as an employer, the company shall pay a Fringe Benefit Tax of 6.78% on the total amount of reimbursement paid to its employees.
The best thing to do is to ask the employee about the kind of bills that he/she can provide; the most common of them are:
- Medical (Up to a limit of INR 1250 per month)
- Conveyance (Allowed bills are fuel, car driver salary receipts, vehicle servicing bills)
- Telephone (Mobile & Landline bills in the name of the employee & prepaid recharge bills)
- Books & Periodicals
One good thing about a tax-friendly salary structure is that the total amount of Reimbursements should not exceed 25% of the total gross salary of the employee.
Should you have any queries, please feel free to revert.
Thanks
From India, Faridabad
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Hi Nidhi,
You can start doing freelance recruiting with any good recruitment company, but almost all of them would ask you to submit a security deposit of INR 15,000 - 25,000 since they will be sharing their job portal IDs and other resources with you.
Please write back for any clarifications!
Thanks
From India, Faridabad
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You can start doing freelance recruiting with any good recruitment company, but almost all of them would ask you to submit a security deposit of INR 15,000 - 25,000 since they will be sharing their job portal IDs and other resources with you.
Please write back for any clarifications!
Thanks
From India, Faridabad
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Creating a Competitive Salary Structure.doc
Salary Structure.zip