Dear All.
Greetings!!!!!!!!
I work for a leading mineral water company in the HR department ,
It has been a good exp so far however I feel there is a strong need for the dept to systematize its salary structure .Can you pls help how to initiate the salarey slabbing process .I also would want to know the exact process flow chart for this exercise.
Usually they say this activity is outsourced but i feel consultants usually end up doing things after our inputs so in that case y cant we do it the ground work and give our seniors to decide on thsi eventually whatever the salary trend be in india companies pay only what they cabn afford.
As of now we make the ctc as per the grade for eg basic between 1200-4000 is grade A-1
2500-5000 is grade A-2 and so on but this grade diffrentiates only the basic and nothing else. i want departmental salary slabbing and above all designation salary slabbing
pls help me in this activity
regards,
reena
P.S. Pls mark a cc of your replies to
From India, Mumbai
Greetings!!!!!!!!
I work for a leading mineral water company in the HR department ,
It has been a good exp so far however I feel there is a strong need for the dept to systematize its salary structure .Can you pls help how to initiate the salarey slabbing process .I also would want to know the exact process flow chart for this exercise.
Usually they say this activity is outsourced but i feel consultants usually end up doing things after our inputs so in that case y cant we do it the ground work and give our seniors to decide on thsi eventually whatever the salary trend be in india companies pay only what they cabn afford.
As of now we make the ctc as per the grade for eg basic between 1200-4000 is grade A-1
2500-5000 is grade A-2 and so on but this grade diffrentiates only the basic and nothing else. i want departmental salary slabbing and above all designation salary slabbing
pls help me in this activity
regards,
reena
P.S. Pls mark a cc of your replies to
From India, Mumbai
Hi Reena,
Hi Reena,
Sorry to reply late, Anyways i am giving you some ideas to prepare the same.
CTC includes each and every cost in terms of money and materials, some of the components are-
GrossSalary
Bonus
PF Contribution from employer side
ESI or Medicalcontribution from Employer side
Cell Phone Allowance
Hard furnishinggoods
Food coupons
The contents of the salary break up is as below, you can prepare it at the suitability of your own. HRA would be50 or 60% of basic.
Basic
HRA
TA
Other Allowance
MobileReimbursement / Month
Gross Per Month = Sum of all the above.
GrossPer Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESIContribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximumceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
Annual Fixed GrossCost= Gross/Annum+PF+ESI+Med
EX-Gratia/Bonus = A fixed amount asBonus
Annual Total Cost = AFGC + EX Gratia/Bonus
Annual total cost is also called as CTC.
Hope now it will be very much clear to you,
if you have any query feel free to ask.
Regards,
Amit Seth.
From India, Ahmadabad
496Hi Reena,
Sorry to reply late, Anyways i am giving you some ideas to prepare the same.
CTC includes each and every cost in terms of money and materials, some of the components are-
GrossSalary
Bonus
PF Contribution from employer side
ESI or Medicalcontribution from Employer side
Cell Phone Allowance
Hard furnishinggoods
Food coupons
The contents of the salary break up is as below, you can prepare it at the suitability of your own. HRA would be50 or 60% of basic.
Basic
HRA
TA
Other Allowance
MobileReimbursement / Month
Gross Per Month = Sum of all the above.
GrossPer Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESIContribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximumceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
Annual Fixed GrossCost= Gross/Annum+PF+ESI+Med
EX-Gratia/Bonus = A fixed amount asBonus
Annual Total Cost = AFGC + EX Gratia/Bonus
Annual total cost is also called as CTC.
Hope now it will be very much clear to you,
if you have any query feel free to ask.
Regards,
Amit Seth.
From India, Ahmadabad
Hello Mmembers,
Approx 100 views and no answer.I am sure I have co members who are much more exp and senior and who do not mind sharing their knowledge with me.
Also want to clearify I do not need CTC break up I wish to know how does an org determine diff salaries for different designations across departments.
Regards,
Reena
From India, Mumbai
Approx 100 views and no answer.I am sure I have co members who are much more exp and senior and who do not mind sharing their knowledge with me.
Also want to clearify I do not need CTC break up I wish to know how does an org determine diff salaries for different designations across departments.
Regards,
Reena
From India, Mumbai
Dear Reena,
Sorry to reply late..
Okie so you want to know the process of salary slabbing..
It is been done after the survey of market. Means what are the prevailing rates for such kind of profile in the market, and moreover while preparing we look at company strength too, whether its capable to pay or not.
And mostly it prepared after keeping in mind the Educaion, Experience and skills required for that particular profile.
Regards,
Amit Seth.
From India, Ahmadabad
Sorry to reply late..
Okie so you want to know the process of salary slabbing..
It is been done after the survey of market. Means what are the prevailing rates for such kind of profile in the market, and moreover while preparing we look at company strength too, whether its capable to pay or not.
And mostly it prepared after keeping in mind the Educaion, Experience and skills required for that particular profile.
Regards,
Amit Seth.
From India, Ahmadabad
Dear Reena, Sorry for late, but can you just send the same to me on following ID?? Once I reach my office then I will send you at the earliest.. Regards, Shailendra
From India, Pune
From India, Pune
Amit Hi,
I gone through the solution u have given for salary slabs. i read both of your solution 1. CTC 2. Salary slabs. I am very happy that this site has so helpful and brilliant personalities. Amit i want to know, how much should be the minimum yearly bonus has to be given to the employee? as well as how much should be the yearly increment ( according to labour law). Pls mail me at
Gazal Ahmed
From India, Bangalore
I gone through the solution u have given for salary slabs. i read both of your solution 1. CTC 2. Salary slabs. I am very happy that this site has so helpful and brilliant personalities. Amit i want to know, how much should be the minimum yearly bonus has to be given to the employee? as well as how much should be the yearly increment ( according to labour law). Pls mail me at
Gazal Ahmed
From India, Bangalore
hi!!
Reena
I totally agree with amit.
Your company might be having the roles and responsibility for the particular position in concern department.
You should go first depatment wise and then designationwise and then categorize them as per desired experience and educatiional background .
And final decide the salary range for the categories.
Regards,
Revathi
From India
Reena
I totally agree with amit.
Your company might be having the roles and responsibility for the particular position in concern department.
You should go first depatment wise and then designationwise and then categorize them as per desired experience and educatiional background .
And final decide the salary range for the categories.
Regards,
Revathi
From India
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-Note.doc
SALARY SHEET CALCULATION.xls