Dear All
I am into fast food chain
I want ot increase the in hand salary for my employees who are covered under ESI policies
For that I have to reduce the basic pay
In my company most of the employees are in the pay range of 4000-7000 K per month
Can any one suggest me a pay structure where i can give maximum in hand salary to the employees after ESI and PF deductions?
What is the lowest limit for basic salry as a percentage of Gross?
Friends pls help me
From India, Bangalore
3I am into fast food chain
I want ot increase the in hand salary for my employees who are covered under ESI policies
For that I have to reduce the basic pay
In my company most of the employees are in the pay range of 4000-7000 K per month
Can any one suggest me a pay structure where i can give maximum in hand salary to the employees after ESI and PF deductions?
What is the lowest limit for basic salry as a percentage of Gross?
Friends pls help me
From India, Bangalore
Dear Madhumita,
Greetings!
Rs.2209/- is the minimum basic pay u have to give for an employee. Better idea is dont give salary in Spilt up instead u can go for Consolidated pay method, where ESI & PF will not be deducted. As per Workmens compensation Act, take Group Insurance.
Its my viewa. If it is wrong give the correct answer.
Rgds,
John N
From India, Madras
Greetings!
Rs.2209/- is the minimum basic pay u have to give for an employee. Better idea is dont give salary in Spilt up instead u can go for Consolidated pay method, where ESI & PF will not be deducted. As per Workmens compensation Act, take Group Insurance.
Its my viewa. If it is wrong give the correct answer.
Rgds,
John N
From India, Madras
but it is mandatory to provide ESI & PF benefits for the Blue collar ppl
My main issue is that my employees needs more salary in hand. They make jump even for 100 Rs. increase in salary
So I want some pay structure where they get maximum benefit as liquid cash
From India, Bangalore
My main issue is that my employees needs more salary in hand. They make jump even for 100 Rs. increase in salary
So I want some pay structure where they get maximum benefit as liquid cash
From India, Bangalore
Dear madhumita, Greetings! I am hereby attached an Excel sheet, which give u the Sample Pay structure for Rs. 7000/-. Just go through it and give ur feedback. Rgds, JOhn N
From India, Madras
From India, Madras
Hi Madhu,
I would like to correct you in your salary break up detail what you have attached.
Here you have kept HRA amount similar to the basic but exactly as per the rule HRA should be 50%(For Metros ) or 40%(For other Cities)and Another thing keeping in mind the Minimum Wage Details of your State will help to determine Basic Salary. AS a general ,Most of the Company Make the Basic calculation on 30%- 35% of the CTC.
Further, for Salary less than 5000 ; consolidated pay Structure as suggested by Mr.Johnny, is the best to increase take home.
Regards,
Rachna
From India, Hyderabad
I would like to correct you in your salary break up detail what you have attached.
Here you have kept HRA amount similar to the basic but exactly as per the rule HRA should be 50%(For Metros ) or 40%(For other Cities)and Another thing keeping in mind the Minimum Wage Details of your State will help to determine Basic Salary. AS a general ,Most of the Company Make the Basic calculation on 30%- 35% of the CTC.
Further, for Salary less than 5000 ; consolidated pay Structure as suggested by Mr.Johnny, is the best to increase take home.
Regards,
Rachna
From India, Hyderabad
Dear All
You all need to update Labour Law knowledge.
As per the Law , basic salary has to be as per following order :
Unskilled : Rs 3050 + DA
Semiskilled : Rs 3150 + DA
Skilled : Rs 3250 + DA
The above is as per Bombay Shop Act, the minimum DA applicable Rs 485 / pm.
Now add A into Basic. Then it is the minimum basic we should pay.
You have to follow the above law, else everybody will keep basic low.
Nitin Nikam
You all need to update Labour Law knowledge.
As per the Law , basic salary has to be as per following order :
Unskilled : Rs 3050 + DA
Semiskilled : Rs 3150 + DA
Skilled : Rs 3250 + DA
The above is as per Bombay Shop Act, the minimum DA applicable Rs 485 / pm.
Now add A into Basic. Then it is the minimum basic we should pay.
You have to follow the above law, else everybody will keep basic low.
Nitin Nikam
hey thanx to all for replying Pls refer me some material or link where i 'll get the details of compensation and benefits in this kind of structure..or manufacturing unit And labor law also
From India, Bangalore
From India, Bangalore
Its nice to see responses,
I feel that as we are working in so called HRD in our respective organisations, we should think both employee/er friendly.
We should discourage these practices of min. of basic salary, No DA, etc. in any organisation.
We should not forget the main objective behind these acts like EPF and ES.
What an organisation or low/under paid employee can't afford on crises or by his/her dependants will be taken care to an extent by these acts and statutory bodies by with a min. contribution.
we should educate the e/er and encourage to contribute to PF/ESI.
and also the e/ae with benefits under these acts.
Regards
Hari
:D
I feel that as we are working in so called HRD in our respective organisations, we should think both employee/er friendly.
We should discourage these practices of min. of basic salary, No DA, etc. in any organisation.
We should not forget the main objective behind these acts like EPF and ES.
What an organisation or low/under paid employee can't afford on crises or by his/her dependants will be taken care to an extent by these acts and statutory bodies by with a min. contribution.
we should educate the e/er and encourage to contribute to PF/ESI.
and also the e/ae with benefits under these acts.
Regards
Hari
:D
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