IF I want 15100 net in hand without PF deduction what will be my salary structure?My company adding bonus to my monthly CTC,which i will get after complition of 1 bonus is included to CTC?
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From India, Pune
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From India, Pune
Bonus Amount is added to the CTC. If you want 15100 in hand then ur sal structure can be
Base Pay (Basic)= Rs 7,650/-
HRA= Rs 3,825/-
Conveyance = Rs 800/-
Medicals = Rs 1,250/-
Special Allowance= Rs 1,775/-
Total Gross = Rs 15,300
Less Prof.Tax = Rs 200
Net in Hand = Rs 15,100/-
Remember that if u want a higher HRA or a greater Basic then it can be done that way too.
Prof Tax is fixed at Rs 200 per month & Rs 300 for Feb
ESIC if applicable to your company shall be applied to you too with further deductions of the Gross
PF as you have opted out can be removed from deductions
Hope it is clear now....rgrds SS
From India, Mumbai
Base Pay (Basic)= Rs 7,650/-
HRA= Rs 3,825/-
Conveyance = Rs 800/-
Medicals = Rs 1,250/-
Special Allowance= Rs 1,775/-
Total Gross = Rs 15,300
Less Prof.Tax = Rs 200
Net in Hand = Rs 15,100/-
Remember that if u want a higher HRA or a greater Basic then it can be done that way too.
Prof Tax is fixed at Rs 200 per month & Rs 300 for Feb
ESIC if applicable to your company shall be applied to you too with further deductions of the Gross
PF as you have opted out can be removed from deductions
Hope it is clear now....rgrds SS
From India, Mumbai
Dear,
In my company I told my boss I dont want deduction for ESIC so he added 100 rs to my salary, but i have a confusion with the bonus,as my company is paying bonus to staff also and workers also. and company adding bonus to monthly CTC.During my interviewI asked for 15000 in hand salary, but afterwords i got to know company is deducting PF,ESIC,and considering bonus added in monthly but i am able to get bonus at the end of the year only.I dont understand what to do? please tell me in detail about bonus. if considuring all deduction and monthly bonus i will get 13000 in hand.
plz tell me what to do?
From India, Pune
In my company I told my boss I dont want deduction for ESIC so he added 100 rs to my salary, but i have a confusion with the bonus,as my company is paying bonus to staff also and workers also. and company adding bonus to monthly CTC.During my interviewI asked for 15000 in hand salary, but afterwords i got to know company is deducting PF,ESIC,and considering bonus added in monthly but i am able to get bonus at the end of the year only.I dont understand what to do? please tell me in detail about bonus. if considuring all deduction and monthly bonus i will get 13000 in hand.
plz tell me what to do?
From India, Pune
Well it actually depends on what kind of bonus are they offering. If it is a guranteed minimum bonus then your will get it paid at the following year maybe sometime around 3-4 months after year end i.e. March. But if it is a performance based pay then I am afraid nothing much can be predicted bcoz it simply wud involve the performance as appraised by the Company and also if the Company has done well in that year. If you have asked for a 15,000/- salary in hand then i think you should have made it clear that it is the Net Salary Per Month that you are speaking about and not the Gross Salary as it is evident that Gross is prior to deduction. If they are including bonus in CTC which maybe you might want on monthly basis then you should have spoken about it during your offer itself. I had a similar experience in my previous job.....Regards SS
From India, Mumbai
From India, Mumbai
Yes it is. But dont give a commanding or a whining kind of impression. Go with a smile and ask for clarification and give ur thoughts about what you had in mind when you said Rs 15,000/- in hand. Explain your position and also show that you had thought about the amount after deductions of PT & PF too in which case I guess your gross salary should be somewhere around and additional Rs 1,000/- & hey also don't show too much disappointment if it doesnt work your way. Remember its important to excel in your job and money will flow maybe even a bit late. Maybe you can ask for a 3 month or 6month appraisal initially during the clarification......regards SS
From India, Mumbai
From India, Mumbai
Please try to understand one simple thing about CTC - Cost to company. Its akin to an amount budgeted by the department/company for you. beyond this number not much will be spent on you individually, all deductions would be within this on your account. Some deductions are government mandated viz., Income Tax, PF contributions, Professional Tax, etc. The company may help you save on tax and rebates like Sodexho or HRA tax rebate etc. The PF contributions, both contributions may be part of your CTC.
The thumb rule is that your take home would be around 30% -35% of the CTC at your slab. Best of Luck
From India, Mumbai
The thumb rule is that your take home would be around 30% -35% of the CTC at your slab. Best of Luck
From India, Mumbai
CTC -Cost To Company - explained earlier Net pay - after all deductions and contributions, money received by you to spend or splurge Consolidated pay - akin to CTC, but may include Medical & LTA
From India, Mumbai
From India, Mumbai
CTC -Cost To Company - explained earlier
Net pay - after all deductions and contributions, money received by you to spend or splurge
Consolidated pay - akin to CTC, but may include Medical & LTA (which have a tax rebate value on production of supportings)
From India, Mumbai
Net pay - after all deductions and contributions, money received by you to spend or splurge
Consolidated pay - akin to CTC, but may include Medical & LTA (which have a tax rebate value on production of supportings)
From India, Mumbai
Dear As i told to my boss that i dont want ESIC he incresase my CTC 15000 to 15100/-.Also I am not taking PF,as i am new to company I am not eligible for incentives.Company said gratuity is included to CTC,so what will be my net inhand salary?PT is 200 cutting fron salary
From India, Pune
From India, Pune
Dear Vinod,
You are absolutly right, But When I joined the company i was in a need of this job,so i didnt concentrate on my salary,during discussion only it has got decided that i will get 15000/- per month but the boss has not told me that it is in ctc, i thought it will be a net pay, but when i got my 1st cheque i found after all deduction i am getting only 12,896/-,i feel i got cheeted from the company,as when i recruit and placed someone what that person will ask that much boss offer in hand to that person.now tell me what to do?
From India, Pune
You are absolutly right, But When I joined the company i was in a need of this job,so i didnt concentrate on my salary,during discussion only it has got decided that i will get 15000/- per month but the boss has not told me that it is in ctc, i thought it will be a net pay, but when i got my 1st cheque i found after all deduction i am getting only 12,896/-,i feel i got cheeted from the company,as when i recruit and placed someone what that person will ask that much boss offer in hand to that person.now tell me what to do?
From India, Pune
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