Hi Sundu,
The break-up for annual ctc is as follows:
Monthly Component
Basic
HRA (50% of basic in Delhi, Mumbai, Chennai and Kolkata and 40% in other cities)
City Compensatory allowance (30% of basic or any amount as desired)
Lunch Allowance: upto Rs 1500 is tax exempt
Conveyance : upto Rs 800 is tax exempt
Special Allowance: rest of the amount
PF Contribution
Annual Component
Medical Reimbursement (upto Rs 15000 is tax exempt)
Bonus (as declared)
Mediclaim/Personal accident policy premium
LTA (once in a block of two years)
Any other allowance
You can refer to the taxation part on this link:
http://www.incometaxindia.gov.in/pub...rom_salary.asp
From India, Hyderabad
3The break-up for annual ctc is as follows:
Monthly Component
Basic
HRA (50% of basic in Delhi, Mumbai, Chennai and Kolkata and 40% in other cities)
City Compensatory allowance (30% of basic or any amount as desired)
Lunch Allowance: upto Rs 1500 is tax exempt
Conveyance : upto Rs 800 is tax exempt
Special Allowance: rest of the amount
PF Contribution
Annual Component
Medical Reimbursement (upto Rs 15000 is tax exempt)
Bonus (as declared)
Mediclaim/Personal accident policy premium
LTA (once in a block of two years)
Any other allowance
You can refer to the taxation part on this link:
http://www.incometaxindia.gov.in/pub...rom_salary.asp
From India, Hyderabad
Hi all
Well, the main thing to keep in mind is that tax will b calculated on Basic, HRA and Other Allowances while the other components like Medicals, Conveyances, Lunch Allowances (Sodexhos) etc would be non-taxable components.
Else, what Anu has given in the start is a very basic structure which is practised normally.
Normally, there are quite a few slabs of salary structures according to levels, grades etc etc.
Hope this helps,
Junaid
From India, Mumbai
Well, the main thing to keep in mind is that tax will b calculated on Basic, HRA and Other Allowances while the other components like Medicals, Conveyances, Lunch Allowances (Sodexhos) etc would be non-taxable components.
Else, what Anu has given in the start is a very basic structure which is practised normally.
Normally, there are quite a few slabs of salary structures according to levels, grades etc etc.
Hope this helps,
Junaid
From India, Mumbai
Hi Sujatha
Reimbursement is the one, will be paid against a 'Payment Voucher' on production of bill like telephone bill, fuel bill etc.
Whereas Allowance is the one, will be paid at a fixed lumpsum every month which form part of certain compensation or benefit package.
Regards
Suresh
From India, Hyderabad
Reimbursement is the one, will be paid against a 'Payment Voucher' on production of bill like telephone bill, fuel bill etc.
Whereas Allowance is the one, will be paid at a fixed lumpsum every month which form part of certain compensation or benefit package.
Regards
Suresh
From India, Hyderabad
hi all.
i read all the replies, but was surprised to see that nobody talked about the performance linked pay. this component of salary has become very useful in organizations as this emphasizes on performance.
thanx,
Ashwini Kumar
From India, Hyderabad
i read all the replies, but was surprised to see that nobody talked about the performance linked pay. this component of salary has become very useful in organizations as this emphasizes on performance.
thanx,
Ashwini Kumar
From India, Hyderabad
Hello Anu U have helped alot but pls tell on what basis company fix its % of basic salary it is going to be 40% or %50% Waiting for reply Neha
From India, Chandigarh
From India, Chandigarh
Hi Sundu,
In simple terms, Head hunting is a process wherein you target some competitors of your company in the market and try to get people from those organizations to work in your present company. The actual word for Head hunting is Poaching but generally, it is not advisable to use this word. Hence generally the term head hunting is used. For example, in my previous company i had some requirement for Sales professionals who have good hands on experience in UPS sales. So I got the list of competitors of our organization in the market, gathered their telephone numbers and i gave them a call saying i need to speak to some marketing executive as I need to place some order for UPS for our business purpose. In this way, I was able to speak to some marketing guys and I could successfully place 2 such candidates in the organization. It is of course not necessary that every time you plan for a head hunt, you will get the candidates but it is one type of recruitment techniques used. One more thing is when you call to the company number, never speak to the required person over that number. Please take the mobile number of that particular person and then proceed further with your discussions regarding the job opening you have for that person.
If you need any more clarifications please feel free to get back to me.
Regards,
Sudha
From India, Hyderabad
In simple terms, Head hunting is a process wherein you target some competitors of your company in the market and try to get people from those organizations to work in your present company. The actual word for Head hunting is Poaching but generally, it is not advisable to use this word. Hence generally the term head hunting is used. For example, in my previous company i had some requirement for Sales professionals who have good hands on experience in UPS sales. So I got the list of competitors of our organization in the market, gathered their telephone numbers and i gave them a call saying i need to speak to some marketing executive as I need to place some order for UPS for our business purpose. In this way, I was able to speak to some marketing guys and I could successfully place 2 such candidates in the organization. It is of course not necessary that every time you plan for a head hunt, you will get the candidates but it is one type of recruitment techniques used. One more thing is when you call to the company number, never speak to the required person over that number. Please take the mobile number of that particular person and then proceed further with your discussions regarding the job opening you have for that person.
If you need any more clarifications please feel free to get back to me.
Regards,
Sudha
From India, Hyderabad
Dear Leo & Sudha
Thankx for the response. Its indeed informative...
I'm working in IT company and i handle lots of req's too...
So, other than sourcing profiles from Job portals, i need some innovative methods to collect some quality resumes...
Thats why, i was asking about head hunting and other methods...
Can you pls help in that?
Thankx in advance.
Regards
Sundu
From India, Bangalore
Thankx for the response. Its indeed informative...
I'm working in IT company and i handle lots of req's too...
So, other than sourcing profiles from Job portals, i need some innovative methods to collect some quality resumes...
Thats why, i was asking about head hunting and other methods...
Can you pls help in that?
Thankx in advance.
Regards
Sundu
From India, Bangalore
Hi,
I will give u some methods which i used to follow for the recruitment process in my previous organiztaions. They are job postings, head hunting, internal referral scheme, try to get some websites from yahoo groups or some other ones where in you can post your requirement free of cost. I used to do these things in my previous organizaions and they were quite helpful. Try to form you own personal network in the city which you work, which would be very helpful.
If you need any more help please feel free to get back to me.
Regards,
sudha
From India, Hyderabad
I will give u some methods which i used to follow for the recruitment process in my previous organiztaions. They are job postings, head hunting, internal referral scheme, try to get some websites from yahoo groups or some other ones where in you can post your requirement free of cost. I used to do these things in my previous organizaions and they were quite helpful. Try to form you own personal network in the city which you work, which would be very helpful.
If you need any more help please feel free to get back to me.
Regards,
sudha
From India, Hyderabad
hi
Thanks for the information. Even I am working with one of the IT CO. please let me know the process of headhunting to place some qualitative, senior people to place in my co.
Please let me know in detail about headhunting process for placing Software developer, programmer who works on different technologies.
Vrushali
From India, Mumbai
Thanks for the information. Even I am working with one of the IT CO. please let me know the process of headhunting to place some qualitative, senior people to place in my co.
Please let me know in detail about headhunting process for placing Software developer, programmer who works on different technologies.
Vrushali
From India, Mumbai
Hi,
Head Hunting - Had it been sports - it is like getting Zidane to play for Mohun
Bagan or Mohammden Sporting or to any other club, for which you are the manager. (Zidane has announced his retirement - that is different).
Similarly, transforming an exceptional executive (read - employee) from one company to another is head-hunting.
I once read an interview of Mr.Pandiyarajan, CEO of MA-FOI CONSULTANTS in which he has narrated about the best head-hunter of his organization. (Incidently, it is a lady working for the company in London, if my memory is right).
Probably, you will get more insights if you could be intouch with ma-foi. (By the way, I no way connected to Ma-foi - I am just passing a reference to you)
Regards,
RAJA CSN,
ERODE.
From India, Madras
Head Hunting - Had it been sports - it is like getting Zidane to play for Mohun
Bagan or Mohammden Sporting or to any other club, for which you are the manager. (Zidane has announced his retirement - that is different).
Similarly, transforming an exceptional executive (read - employee) from one company to another is head-hunting.
I once read an interview of Mr.Pandiyarajan, CEO of MA-FOI CONSULTANTS in which he has narrated about the best head-hunter of his organization. (Incidently, it is a lady working for the company in London, if my memory is right).
Probably, you will get more insights if you could be intouch with ma-foi. (By the way, I no way connected to Ma-foi - I am just passing a reference to you)
Regards,
RAJA CSN,
ERODE.
From India, Madras
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