Hi All,
Could anyone please tell me answers for the following :
1 What is/ are the difference/s between CTC & Gross Salary, & what PF has got to do with it ?
2. What are the usual salary components of a White Collared Employee especially which definitely has to be included in the salary?
3. What are the taxable salary components of a white & blue collared employee & to what limit?
4. Is E.S.I also applicable to White Collared employee or it is meant for Blue collared employees only. If yes, then what is the contribution & the limit ?
5. What is the maximum used performance appraisal method prevelant in the Companies for the White Collared Employee apart from 360 appraisal?
6. Also request if anyone of could send me the format of 360 degree appraisal form?
I am asking a lot of questions but I am sure my seniors would definitely help me.
Prashant :idea:
From India, Delhi
10Could anyone please tell me answers for the following :
1 What is/ are the difference/s between CTC & Gross Salary, & what PF has got to do with it ?
2. What are the usual salary components of a White Collared Employee especially which definitely has to be included in the salary?
3. What are the taxable salary components of a white & blue collared employee & to what limit?
4. Is E.S.I also applicable to White Collared employee or it is meant for Blue collared employees only. If yes, then what is the contribution & the limit ?
5. What is the maximum used performance appraisal method prevelant in the Companies for the White Collared Employee apart from 360 appraisal?
6. Also request if anyone of could send me the format of 360 degree appraisal form?
I am asking a lot of questions but I am sure my seniors would definitely help me.
Prashant :idea:
From India, Delhi
Hi,
Just attempting to tell you what i know.
1 What is/ are the difference/s between CTC & Gross Salary, & what PF has got to do with it ?
CTC is Cost to Company and is considered with all the deductions the company makes in a salary. In simple words,
Basic+DA+Conveyence+Medical+Other Allowances=Nett
Nett+PF [Employee Contribution] + ESI[Employee Contribution]=Gross
Gross+PF [Employer Contribution] + ESI[Employer Contribution]=CTC
PF [Employer Contribution] is calculated as 12% of Basic+DA.and it is the same equation for Employee Contribution.
2. What are the usual salary components of a White Collared Employee especially which definitely has to be included in the salary?
The usual components are Basic+HRA+Conveyance+Medical+PF+ESI [if applicable]
3. Is E.S.I also applicable to White Collared employee or it is meant for Blue collared employees only. If yes, then what is the contribution & the limit ?
E.S.I is also applicable to White Collared Employee. The Employee
Contribution is 1.75% of Gross and Employer contribution is 4.75% of Gross. The limit is Rs. 8000/- CTC or Rs. 7500/- Gross
4. What is the maximum used performance appraisal method prevelant in the Companies for the White Collared Employee apart from 360 appraisal?
The maximum used is the MBO, wherein a given set of objectives is monitered at the end of the completion period. Scores are assigned by the supervisor/reporting authority on various parameters like quality, no. of Defects etc.
I hope I have answered towards clearing your doubts to some extent.
Regards,
Soumya Shankar
From India, Bangalore
Just attempting to tell you what i know.
1 What is/ are the difference/s between CTC & Gross Salary, & what PF has got to do with it ?
CTC is Cost to Company and is considered with all the deductions the company makes in a salary. In simple words,
Basic+DA+Conveyence+Medical+Other Allowances=Nett
Nett+PF [Employee Contribution] + ESI[Employee Contribution]=Gross
Gross+PF [Employer Contribution] + ESI[Employer Contribution]=CTC
PF [Employer Contribution] is calculated as 12% of Basic+DA.and it is the same equation for Employee Contribution.
2. What are the usual salary components of a White Collared Employee especially which definitely has to be included in the salary?
The usual components are Basic+HRA+Conveyance+Medical+PF+ESI [if applicable]
3. Is E.S.I also applicable to White Collared employee or it is meant for Blue collared employees only. If yes, then what is the contribution & the limit ?
E.S.I is also applicable to White Collared Employee. The Employee
Contribution is 1.75% of Gross and Employer contribution is 4.75% of Gross. The limit is Rs. 8000/- CTC or Rs. 7500/- Gross
4. What is the maximum used performance appraisal method prevelant in the Companies for the White Collared Employee apart from 360 appraisal?
The maximum used is the MBO, wherein a given set of objectives is monitered at the end of the completion period. Scores are assigned by the supervisor/reporting authority on various parameters like quality, no. of Defects etc.
I hope I have answered towards clearing your doubts to some extent.
Regards,
Soumya Shankar
From India, Bangalore
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