HI,
This is sudhir.......
please view the attached file.
Regards,
Sudhirkumar
[/email] is my mail I.D
An example :
In CTC, Salary Distribution can be
(A) Basic Salary + HRA + DA
(B) Conveyance + Medical + Other / Special Allowance if any
(C) Employers Contribution for PF (12% of Basic)
Employers Contribution for ESIC (4.75% of Gross)
(D) Employees Contribution for PF (12% of Basic)
Employees Contribution for ESIC (1.75% of Gross)
Gross Salary = (A) + (B)
CTC = (A) + (B) + (C)
Net in Hand = (A) + (B) - (D) ...
Salary break up as:
Basic-30%
HRA- 30%
Conveyances- 25%
Medical- 10%
Other- 5%....
You can change the elements and values according to your company policies.
From India, Visakhapatnam
12This is sudhir.......
please view the attached file.
Regards,
Sudhirkumar
An example :
In CTC, Salary Distribution can be
(A) Basic Salary + HRA + DA
(B) Conveyance + Medical + Other / Special Allowance if any
(C) Employers Contribution for PF (12% of Basic)
Employers Contribution for ESIC (4.75% of Gross)
(D) Employees Contribution for PF (12% of Basic)
Employees Contribution for ESIC (1.75% of Gross)
Gross Salary = (A) + (B)
CTC = (A) + (B) + (C)
Net in Hand = (A) + (B) - (D) ...
Salary break up as:
Basic-30%
HRA- 30%
Conveyances- 25%
Medical- 10%
Other- 5%....
You can change the elements and values according to your company policies.
From India, Visakhapatnam
Hi Annuji
Many companies are having the Scale of Pay system e.g. (3000-300x5-4500-EB-450x5-6750-EB-675x5-10125) this scale of pay is made for 15 years duration of service of an employee. here we take 3000/- as basic and calculate HRA-20% on basic and conveyance 10% on basic and rest of the part may be put in other allowances. Salary Break up is calculated on a Gross Salary of Rs. 5000/-PM. of an unskilled employee.
Basic - 3000/-
HRA - 600/- (20% on basic)
Conv. - 300/- (10% on basic)
Allowance -1100
----------------------------
Gross Salary-5000/-
In this calculation the basic salary is meeting criteria of the minimum wages act which is applicable for Odisha for an Unskilled worker.
Somewhere the basic salary is calculated to meet the minimum wages act and rest of the salary is taken in allowances to get the gross salary.
Salary= Basic+DA+ HRA+Conv.+Allowances ( It varies from Company to Company) On the basis of that company decides to implement the allowances for its employees.
thanks
Mahendra Biswal
(email:-
)
From India, Bhubaneswar
Many companies are having the Scale of Pay system e.g. (3000-300x5-4500-EB-450x5-6750-EB-675x5-10125) this scale of pay is made for 15 years duration of service of an employee. here we take 3000/- as basic and calculate HRA-20% on basic and conveyance 10% on basic and rest of the part may be put in other allowances. Salary Break up is calculated on a Gross Salary of Rs. 5000/-PM. of an unskilled employee.
Basic - 3000/-
HRA - 600/- (20% on basic)
Conv. - 300/- (10% on basic)
Allowance -1100
----------------------------
Gross Salary-5000/-
In this calculation the basic salary is meeting criteria of the minimum wages act which is applicable for Odisha for an Unskilled worker.
Somewhere the basic salary is calculated to meet the minimum wages act and rest of the salary is taken in allowances to get the gross salary.
Salary= Basic+DA+ HRA+Conv.+Allowances ( It varies from Company to Company) On the basis of that company decides to implement the allowances for its employees.
thanks
Mahendra Biswal
(email:-
From India, Bhubaneswar
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Typical salary breakup.jpg
Salary breakup format.xls