hi
Assuming that an employee's monthly salary is 20k, how would you calculate the basic, hra, conveyance, medical allowances?? what percentage of basic salary would be PF?? and do we calculate HRA, conveyance and medical allowances as a percentage of basic salary or based on any other criteria??
when a company/Hr manager fires a fulltime employee for non performance or misconduct without a prior notice, what could be the legal consequences?? and how to avoid them
I would appreciate your inputs
Thanks
Javeed
From India, Hyderabad
Assuming that an employee's monthly salary is 20k, how would you calculate the basic, hra, conveyance, medical allowances?? what percentage of basic salary would be PF?? and do we calculate HRA, conveyance and medical allowances as a percentage of basic salary or based on any other criteria??
when a company/Hr manager fires a fulltime employee for non performance or misconduct without a prior notice, what could be the legal consequences?? and how to avoid them
I would appreciate your inputs
Thanks
Javeed
From India, Hyderabad
Hello,
As salary break up u can hv components such as Basic, HRA, Medical, Conveyance, Special allowance etc.
Medical & Conveyance has to be fixed as (1250 - 1500) & 800 is the max limit for the same respectively.
Out of CTC, after deducting Employer's contribution towards PF, Medical & conveyance you can take 60% of the remaining amount as Basic, 50% of basic as HRA & whtever is left can be considered as Special allowance or u can term it as something else (acc to your company policy).
PF is calculated @ 12% of basic. However if the value of basic goes beyond 6500, flat 780 is deducted as PF contribution. But this is not mandatory as certain company's offer option deducting PF @ 12% even at higher CTC.
Hope this proves of some help to you!
Regards,
Anjali
From India
As salary break up u can hv components such as Basic, HRA, Medical, Conveyance, Special allowance etc.
Medical & Conveyance has to be fixed as (1250 - 1500) & 800 is the max limit for the same respectively.
Out of CTC, after deducting Employer's contribution towards PF, Medical & conveyance you can take 60% of the remaining amount as Basic, 50% of basic as HRA & whtever is left can be considered as Special allowance or u can term it as something else (acc to your company policy).
PF is calculated @ 12% of basic. However if the value of basic goes beyond 6500, flat 780 is deducted as PF contribution. But this is not mandatory as certain company's offer option deducting PF @ 12% even at higher CTC.
Hope this proves of some help to you!
Regards,
Anjali
From India
Anjali
Many thanks for your inputs... I really appreciate it.
Now i got a pretty good idea on Salary break up.
I am planning to make my career in HR, i would be greatful if you can give me any good info you have on HR policies (leave policy, Performance appraisal.. etc)
Thanks in Advance
From India, Hyderabad
Many thanks for your inputs... I really appreciate it.
Now i got a pretty good idea on Salary break up.
I am planning to make my career in HR, i would be greatful if you can give me any good info you have on HR policies (leave policy, Performance appraisal.. etc)
Thanks in Advance
From India, Hyderabad
Re: Salary break up
Assuming that an employee's monthly salary is 1,80,000 p.a.
, how would you calculate the basic, hra, conveyance, medical allowances?? what percentage of basic salary would be PF?? and do we calculate HRA, conveyance and medical allowances as a percentage of basic salary or based on any other criteria??
From India, Pune
Assuming that an employee's monthly salary is 1,80,000 p.a.
, how would you calculate the basic, hra, conveyance, medical allowances?? what percentage of basic salary would be PF?? and do we calculate HRA, conveyance and medical allowances as a percentage of basic salary or based on any other criteria??
From India, Pune
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