Hi, can any provide me the detailed salary break up for annual salary of 4,20,000, i.e 35,000pm. And without pf as it is a small IT firm with 6 employees. The details needs to be mentioned in the offer letter for annexure so please mention it in details. Thanks in advance.
From India, Chennai
3From India, Chennai
Any one please do help me in the above question and it’s urgent please assist me in the same. Thanks and Regards, Rekha.
From India, Chennai
From India, Chennai
Hi Rekha, A model CTC is attached, adopt it with modifications required to suit your policy.
From India, Bangalore
From India, Bangalore
Thank you kumar. In the annexure of the offer letter if it is mentioned as below is that fine? can you please let me know? thanks in advance
BASIC: 21000 (pa) 17500(pm)
FDA/VDA: 105000(pa) 8750(pm)
HRA: 42000(pa) 3500(pm)
MEDICAL: 10000(pa) 833(pm)
CONVEYANCE: 18000(pa) 1500(pm)
OTHER ALLOW: 35000(pa) 2917(pm)
total: 420000(pa) 35000(pm)
Thanks and Regards,
Rekha.
From India, Chennai
BASIC: 21000 (pa) 17500(pm)
FDA/VDA: 105000(pa) 8750(pm)
HRA: 42000(pa) 3500(pm)
MEDICAL: 10000(pa) 833(pm)
CONVEYANCE: 18000(pa) 1500(pm)
OTHER ALLOW: 35000(pa) 2917(pm)
total: 420000(pa) 35000(pm)
Thanks and Regards,
Rekha.
From India, Chennai
It's a sound official practice first get your remuneration policy right. Of course, as private firm you'll have your liberty to alter your structure as and when required but at the same time when you make it as a policy frame work such an admin help you in future to take appropriate decisions -
What is required is & you should be clear is -
i) Keep track on state's minimum wages stipulation
ii) The trend in salary of other competitors in the same sector
iii)Nothing wrong in keeping the structure flexible to meet compulsions, at the same time keep them commonly applicable to all item wise, may be the amounts vary from person to person and on status. For eg. in place of conveyance you may introduce petrol allowance at actuals for senior members who are using cars, lunch allowance/food coupons to all/entertainment allowance or reimbursement of business promotional expenses for those involved in direct customers rapport etc.
iv) Observe statutory requirement in letter and spirit-remittance of Prof.Tax/TDS, maintenance of records,
submission of reports & returns etc.
v) You are free to, if necessary, add or delete components in the structure without tinkering Basic.
--------
Basic should be Rs.2,10,000 (pa), others are ok.
I believe you are finalising the package on CTC basis. If yes, you may have to consider revealing other 'annual charges/components' also to make up to the CTC package.
All the best.
From India, Bangalore
What is required is & you should be clear is -
i) Keep track on state's minimum wages stipulation
ii) The trend in salary of other competitors in the same sector
iii)Nothing wrong in keeping the structure flexible to meet compulsions, at the same time keep them commonly applicable to all item wise, may be the amounts vary from person to person and on status. For eg. in place of conveyance you may introduce petrol allowance at actuals for senior members who are using cars, lunch allowance/food coupons to all/entertainment allowance or reimbursement of business promotional expenses for those involved in direct customers rapport etc.
iv) Observe statutory requirement in letter and spirit-remittance of Prof.Tax/TDS, maintenance of records,
submission of reports & returns etc.
v) You are free to, if necessary, add or delete components in the structure without tinkering Basic.
--------
Basic should be Rs.2,10,000 (pa), others are ok.
I believe you are finalising the package on CTC basis. If yes, you may have to consider revealing other 'annual charges/components' also to make up to the CTC package.
All the best.
From India, Bangalore
Great blog! I appreciate the efforts you made when writing this article. I hope the best work from you in the future is good. I want to thank you for this site! Thank you for sharing.
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geometry dash online
dear everyone,
i want to know how to divide salary of rs. 18000 and as well as 8000 when there is no pf deduction as firm has below 15 employees and most of us live in our own houses.
what must be the basic salary and is dearness allowance can be avail by a private sector employee or it is just for govt. employee................and also make me know some more about medical allowance. plz help me thnx in advance.
From India, Bhopal
i want to know how to divide salary of rs. 18000 and as well as 8000 when there is no pf deduction as firm has below 15 employees and most of us live in our own houses.
what must be the basic salary and is dearness allowance can be avail by a private sector employee or it is just for govt. employee................and also make me know some more about medical allowance. plz help me thnx in advance.
From India, Bhopal
my firm policy does not include any medical benefits also as i have mention in above comment so anyone please suggest how the salary division can be done which fill be helpful for employees at anytime to avail loans and other work can also be done with the help of salary statement.......also make me know about that which part of divided salary is seen by any bank before providing loans
thanks and regards
From India, Bhopal
thanks and regards
From India, Bhopal
Hi,
The Type of company and type of employment will help us to decide what should be the Basic and DA,
Because Basic and DA are usually the main heads which forms the basis of any salary, and it being the main component of statutory compliance which is considered under minimum wages Act, this head must be as per minimum wages or above the rate of minimum wages.
All other heads Like Allowances or any other benefits include the earning of an employee.
Fringe Benefits Like Deduction in EPF, ESIC,LWF etc fall under statutory compliance. while Leave with wages, paid Holidays, Gratuity, Bonus, etc are mandatory entitlements payble as per eligibility.
For More Details - Pls connect
From India, Vadodara
The Type of company and type of employment will help us to decide what should be the Basic and DA,
Because Basic and DA are usually the main heads which forms the basis of any salary, and it being the main component of statutory compliance which is considered under minimum wages Act, this head must be as per minimum wages or above the rate of minimum wages.
All other heads Like Allowances or any other benefits include the earning of an employee.
Fringe Benefits Like Deduction in EPF, ESIC,LWF etc fall under statutory compliance. while Leave with wages, paid Holidays, Gratuity, Bonus, etc are mandatory entitlements payble as per eligibility.
For More Details - Pls connect
From India, Vadodara
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