I have joined in a manufacturing company recently. The HR manager asked me to prepare a up to date CTC by complying all the labor laws in Kolkata. Honestly I have no idea how to make CTC by complying the Minimum Wages for West Bengal. Therefore I request you all the seniors to help me to sort out my problem.
From India, Kolkata
From India, Kolkata
Dear Laishram,
CTC includes Employees salary and employers contributions towards PF, ESIC etc. Find out what is a minimum wages for West Bengal and based on the same you can prepare CTC.
For example if Minimum wages is 10000
Basic + DA is - 10000
Employer PF- 1200 (12%)
Employer ESIC- 450 (4.5%)
Bonus- 625 (7500*8.33%)
Total- 12,275
CTC will be 12,275.
Regards
Praveen B
praveenbhosale1ATgmail.com
From India, Bangalore
129CTC includes Employees salary and employers contributions towards PF, ESIC etc. Find out what is a minimum wages for West Bengal and based on the same you can prepare CTC.
For example if Minimum wages is 10000
Basic + DA is - 10000
Employer PF- 1200 (12%)
Employer ESIC- 450 (4.5%)
Bonus- 625 (7500*8.33%)
Total- 12,275
CTC will be 12,275.
Regards
Praveen B
praveenbhosale1ATgmail.com
From India, Bangalore
Dear Mr.Singh,
If your manufacturing unit is located at Kolkata, you have to follow the minimum wages as per Zone-A of West Bengal for your nature of industry and at different skill. Moreover, other than Basic & DA , there is an state enactment "WB House Rent Allowance Act" where 5% of Basic & DA should be HRA.
CTC has no legal status. It depends on organization decision and remuneration structure. Other than what Praveen B has mentioned, there may be some more items which may be considered as CTC - e.g. Gratuity, Subsidise Canteen, Transport provided if any by organization etc. etc. For any further clarification, you may contact me if you think so.
Thanks & Regds.,
S K Bandyopadhyay(West Bengal)
USD HR Solutions
www.usdhrs.in
From India, New Delhi
If your manufacturing unit is located at Kolkata, you have to follow the minimum wages as per Zone-A of West Bengal for your nature of industry and at different skill. Moreover, other than Basic & DA , there is an state enactment "WB House Rent Allowance Act" where 5% of Basic & DA should be HRA.
CTC has no legal status. It depends on organization decision and remuneration structure. Other than what Praveen B has mentioned, there may be some more items which may be considered as CTC - e.g. Gratuity, Subsidise Canteen, Transport provided if any by organization etc. etc. For any further clarification, you may contact me if you think so.
Thanks & Regds.,
S K Bandyopadhyay(West Bengal)
USD HR Solutions
www.usdhrs.in
From India, New Delhi
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CTC Calculator.xls