Hello All, Need your views and valuable thoughts on below.
In order to re-frame the CTC structure, am planning to keep it simple and easy to understand (especially to juniors, Trainees). So for this can I reduce components and make it simpler? What would be the repercussions of this (From Org. & Compliance perspective)?
Nature Of Company: ITES, Networking, Safety & Security.
Current Structure: Basic +HRA+Medi Allow.+ Convey. Allow + Edu.Allow+ Washing Allow.+Adhoc Allow(Balancing figure)= Monthly Gross.
Current CTC: Monthly Gross+ PF(ER) +Grat.+LTA (Annually)+Bonus (as applicable) +Incentive.
New Structure : Basic+ HRA+ Special Allow. = Monthly Gross
New CTC : Monthly Gross+ PF(ER) +Grat.+Bonus (as applicable) +Incentive. (LTA moved to Special Allow).
From India, Pune
10In order to re-frame the CTC structure, am planning to keep it simple and easy to understand (especially to juniors, Trainees). So for this can I reduce components and make it simpler? What would be the repercussions of this (From Org. & Compliance perspective)?
Nature Of Company: ITES, Networking, Safety & Security.
Current Structure: Basic +HRA+Medi Allow.+ Convey. Allow + Edu.Allow+ Washing Allow.+Adhoc Allow(Balancing figure)= Monthly Gross.
Current CTC: Monthly Gross+ PF(ER) +Grat.+LTA (Annually)+Bonus (as applicable) +Incentive.
New Structure : Basic+ HRA+ Special Allow. = Monthly Gross
New CTC : Monthly Gross+ PF(ER) +Grat.+Bonus (as applicable) +Incentive. (LTA moved to Special Allow).
From India, Pune
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