Can you let me know the heading breakups you propose with minimum BASIC + DA for everybody? Can we put 6500 max for basic + da? Can you send the chart immediately and discuss?
From India, Coimbatore
3From India, Coimbatore
Dear Mr. Suresh Kumar.M,
Remember that there is no fixed component for calculating the salary break-ups. Besides, you may consider the following:
Basic - can be between 40% - 50% of the Gross, there is always a need to keep in mind; there are some organizations which consider some or all component in the salary to be Basic.
You have to discuss with your HOD to arrive a fixed percentage to structure the salary cog. Also, Statutory liabilities like PF, Gratuity and Bonus are taken into consideration of CTC.
From India, Visakhapatnam
Remember that there is no fixed component for calculating the salary break-ups. Besides, you may consider the following:
Basic - can be between 40% - 50% of the Gross, there is always a need to keep in mind; there are some organizations which consider some or all component in the salary to be Basic.
You have to discuss with your HOD to arrive a fixed percentage to structure the salary cog. Also, Statutory liabilities like PF, Gratuity and Bonus are taken into consideration of CTC.
From India, Visakhapatnam
I too agree with Ms Sharmila the Salary structure varies company to company based on their policies. Some of the common Pay heads used are:-
1) Basic - 35% - 50% of Gross
2) HRA - 40% of Basic for Non metro & 50% of basic for Metro
3) Con - Max Rs. 800/ P M which is Max of Rs. 9600 P A
4) Medical Reim - Max Rs. 1250 / PM which can be max of Rs 15000 PA
5) Spl Allow - Balance of Gross will be provided as Spl Allow
Statutory
1) PF
Emp Contribution - 12% on Basic
Emp'r Contribution - 13.61% on basic
2) ESI - Applicable to employees whose Gross Salary is less than or equal to Rs.10000
Emp Contribution - 1.75% on Grorss
Emp'r Contribution - 4.75% on Gross
PT - It Varies State to state
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
CTC = Gross + PF (Emp'r Cont) - ESI (Emp'r Cont)
Gratuity = Basic *15/26 - It is payable to the employee who completes 5yrs of service in the organisation. It can be showed as a part of CTC.
If Employees coming under high Salary Then you can again split up the amount in Spl Allow As
1) Food coupons
2) Car Hire
3) Petrol and Maint for Car
4) LTA
From India, Indore
1) Basic - 35% - 50% of Gross
2) HRA - 40% of Basic for Non metro & 50% of basic for Metro
3) Con - Max Rs. 800/ P M which is Max of Rs. 9600 P A
4) Medical Reim - Max Rs. 1250 / PM which can be max of Rs 15000 PA
5) Spl Allow - Balance of Gross will be provided as Spl Allow
Statutory
1) PF
Emp Contribution - 12% on Basic
Emp'r Contribution - 13.61% on basic
2) ESI - Applicable to employees whose Gross Salary is less than or equal to Rs.10000
Emp Contribution - 1.75% on Grorss
Emp'r Contribution - 4.75% on Gross
PT - It Varies State to state
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
CTC = Gross + PF (Emp'r Cont) - ESI (Emp'r Cont)
Gratuity = Basic *15/26 - It is payable to the employee who completes 5yrs of service in the organisation. It can be showed as a part of CTC.
If Employees coming under high Salary Then you can again split up the amount in Spl Allow As
1) Food coupons
2) Car Hire
3) Petrol and Maint for Car
4) LTA
From India, Indore
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