Hi very recently I got an offer from a company.There are couple of things that's doubtful to me.I am posting those below.Kindly help me in deciding.
1) The Gratuity component bon the CTC is missing.Why ?
2) My basic salary per month is 33,333 and in the CTC the employer contribution to the PF monthly is only 1800.I am not drawing any DA.I am very much concerned on this point.
3) My total CTC is 10LPA and around 5LPA is defined under Flexi Benefits. Will I get this component Monthly? It comes to around 30K monthly.
Kindly help.
From India, Coimbatore
1) The Gratuity component bon the CTC is missing.Why ?
2) My basic salary per month is 33,333 and in the CTC the employer contribution to the PF monthly is only 1800.I am not drawing any DA.I am very much concerned on this point.
3) My total CTC is 10LPA and around 5LPA is defined under Flexi Benefits. Will I get this component Monthly? It comes to around 30K monthly.
Kindly help.
From India, Coimbatore
Hi Jaya,
Gratuity is not mandatory to mention in ctc as gratuity is paid only if the employee served atleast 5 years in a company. and you have mentioned pf employer contribution is 1800, the minimum contribution is now set at 12% based on the employee’s basic pay + DA.
From India, Chennai
Gratuity is not mandatory to mention in ctc as gratuity is paid only if the employee served atleast 5 years in a company. and you have mentioned pf employer contribution is 1800, the minimum contribution is now set at 12% based on the employee’s basic pay + DA.
From India, Chennai
Jaya,
Reply to your 1st query :- Gratuity may be or may not be considered as a part of CTC. It depends on Organization policy.
Reply to your 2nd query:- Your Basic is Rs.33,333/- per month and no DA. As per PF Rule, employer is liable to pay contribution up to Rs.15,000/- Basic + DA and 12% of the same is 1800/- per month. Your Company is not doing anything wrong.
Reply to your 3rd query:- Whether the Flexi Benefits will be paid monthly or not hopefully should appear in your appointment letter. If not, please check it from HR department. There is no specific rule in this matter rather depends on company's policy.
Thanks & Regards,
S K Bandyopadhyay
USD HR Solutions
From India, New Delhi
337Reply to your 1st query :- Gratuity may be or may not be considered as a part of CTC. It depends on Organization policy.
Reply to your 2nd query:- Your Basic is Rs.33,333/- per month and no DA. As per PF Rule, employer is liable to pay contribution up to Rs.15,000/- Basic + DA and 12% of the same is 1800/- per month. Your Company is not doing anything wrong.
Reply to your 3rd query:- Whether the Flexi Benefits will be paid monthly or not hopefully should appear in your appointment letter. If not, please check it from HR department. There is no specific rule in this matter rather depends on company's policy.
Thanks & Regards,
S K Bandyopadhyay
USD HR Solutions
From India, New Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
SALARY SHEET CALCULATION.xls