Dear Friend,
Your question is how fix CTC for an employee:- Please note that, CTC means Cost to Company
Generally, The CTC will be fixed only, if the salary range is huge like 10/12/18 lakhs to over come the burden of income tax and showing the components as Fringe benefits
In your case, the salary range is very low and you fix like this
Name:
Date of Joining:
Designation:
Basic +DA
HRA
Other allowance (Bonus)
Sub total A
PF
ESIC
Gratuity
Sub total B
Please note that all taxs present and future are to be borne by you
Please note that benefits to be claimed as per the company policy and procedure
Gratuity will be paid as per the provisions of Payment of Gratuity Act.
Any help from side please do write to me
Regards,
Malathesha K S
Triveni Aeronautics Pvt Ltd.,
From India, Bangalore
2Your question is how fix CTC for an employee:- Please note that, CTC means Cost to Company
Generally, The CTC will be fixed only, if the salary range is huge like 10/12/18 lakhs to over come the burden of income tax and showing the components as Fringe benefits
In your case, the salary range is very low and you fix like this
ANNEXTURE - A
Name:
Date of Joining:
Designation:
Salary and Benefits details
Monthly Benefits - A
S.N
Description
Monthly Rs.
Annual Rs.
1
9500
114000
2
475
5700
3
700
8400
Sub total A
10675
128100
Annual Benefits – B
1
780
9360
2
507
6084
3
456
5472
Sub total B
1743
20916
Cost to Company (A+B)
12418
149016
Please note that all taxs present and future are to be borne by you
Please note that benefits to be claimed as per the company policy and procedure
Gratuity will be paid as per the provisions of Payment of Gratuity Act.
Any help from side please do write to me
Regards,
Malathesha K S
Triveni Aeronautics Pvt Ltd.,
From India, Bangalore
Ya! the companies strength is between (150-200). Usually the Ltd companies in india have this PF as a mandatory component but only since it is a LLC company it is providing this option of PF withdrawl. As far as interest rate is concerned,if we withdraw the amount we can invest in the areas where we can get more returns. But my major concern was about the profile value-"does PF means that a person is into permanent employment type"?
From India, Mumbai
From India, Mumbai
Ya! the companies strength is between (150-200). Usually the Ltd companies in india have this PF as a mandatory component but only since it is a LLC company it is providing this option of PF withdrawl. As far as interest rate is concerned,if we withdraw the amount we can invest in the areas where we can get more returns. But my major concern was about the profile value-"does PF means that a person is into permanent employment type"?
From India, Mumbai
From India, Mumbai
pon1965 plz revert me on it asap..... Views from others are also most welcome .... do revert me ASAP as i need to settle this out today itslef... Thanks in advance :)
From India, Mumbai
From India, Mumbai
LLC - Limited Liability Companies like Pvt Ltd comapnies are also covered under PF. I think your company is evading the statutory obligation. If you become member of the PF, employer contribution will also be there. My suggestion is join as PF member. It is upto you to decide.
Pon
From India, Lucknow
Pon
From India, Lucknow
pon1965 --->Sir, as previously said, the company would add the companies PF contribution amount in my take home if i dont opt for the PF component. My only concern was whether my employment type would be of same value as contractual employment incase the PF component is not added in the salary structure. Inshort, which all are the components that differentiates a contractual employee and permanent employees salary structure
From India, Mumbai
From India, Mumbai
PF contribution doesn't differentiate anything of your employment status. Contract employees are also covered under PF scheme. When you change job, PF details does not matter with your new employer.
Pon
From India, Lucknow
Pon
From India, Lucknow
the calucation ranges from company to company the basic may be 45%,50% or60% and so. it depends on the standing orders of the company
From India, Chennai
From India, Chennai
IT companies initally they do not go PF as the salarly will on C2C basis .You do not go for withdrawal u keep your PF so that it will be easy for you when you change your company(better oppurtunity) .you put a transfer for it.
From India, Chennai
From India, Chennai
to all,
dear u all have explored the matter in depth, however i like to add some facts: payment of bonus depends on company`s financial position ,nevertheless bonus should be paid minimum @ 8.33 on basic as per bonus act.
ESIC Rates come into effect on State to State basis, say: in MP it is 1.75% on gross on part of employee while 4.75% for employer.
thanks,
DEVENDRA
From India, Indore
dear u all have explored the matter in depth, however i like to add some facts: payment of bonus depends on company`s financial position ,nevertheless bonus should be paid minimum @ 8.33 on basic as per bonus act.
ESIC Rates come into effect on State to State basis, say: in MP it is 1.75% on gross on part of employee while 4.75% for employer.
thanks,
DEVENDRA
From India, Indore
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SALARY SHEET CALCULATION.xls
Salary calculation.doc