Hello Friends.
We are new firm and I wanted to hire people on CTC base. But I dont have any salary pattern which I suppose to show on offer letter or salary slip.
I would request please tell me any salary structure or tool that help me.
I also want to know how the PF, HRA , TA decide.
Thanks in Advance
Munali
From India, Mumbai
2We are new firm and I wanted to hire people on CTC base. But I dont have any salary pattern which I suppose to show on offer letter or salary slip.
I would request please tell me any salary structure or tool that help me.
I also want to know how the PF, HRA , TA decide.
Thanks in Advance
Munali
From India, Mumbai
This is not my question I asked how to decide the basic salary... How much % of CTC and same other factor how much % PF, gratuatiy, TA,DA and other expenses Munali
From India, Mumbai
From India, Mumbai
Hia Munali,
For example if CTC of a candidate is Rs 321120 per annum then the salary stru be
Monthly ctc = 26760 (321120/12)
Basic = 13380 ( 50 % of basic)
HRA = 5352 ( 40 % of basic)
PF = 780 ( 12 % of basic but most of companies wil treat basic as 6500 RS for PF)
Education allw =800
Transport allo =800
Spl allow = 5648 basic+hra+edu allo+ trans allo+pf- mnthly ctc)
Total = 26760 these are earnings
and PT, IT LOPs if any and advances are the deductions
\\ sunder.p.vijay
From India, Hyderabad
For example if CTC of a candidate is Rs 321120 per annum then the salary stru be
Monthly ctc = 26760 (321120/12)
Basic = 13380 ( 50 % of basic)
HRA = 5352 ( 40 % of basic)
PF = 780 ( 12 % of basic but most of companies wil treat basic as 6500 RS for PF)
Education allw =800
Transport allo =800
Spl allow = 5648 basic+hra+edu allo+ trans allo+pf- mnthly ctc)
Total = 26760 these are earnings
and PT, IT LOPs if any and advances are the deductions
\\ sunder.p.vijay
From India, Hyderabad
Hi But what is percentage of other allowances like bonus or performance .. can you tell me percentage wise for each components.. Regards Munali
From India, Mumbai
From India, Mumbai
I have attached CTC-Breakup & Salary calculation it will instruct of accurate CTC Breakup. Sender ., Nagaraj K
From India, Bangalore
From India, Bangalore
HI Munali. Bonus r performance depends upon norms and some ratings of the company //sunder
From India, Hyderabad
From India, Hyderabad
Dear Friends, One of my friend is in need of Job of having 8 yrs experience in HR, please let me if any openings. anjalisunil
From India, Hyderabad
From India, Hyderabad
Many of your help
Basic 50% of Gross Salary
HRA 40% of Basic
Conveyance 800/- per month is exempted from tax
Mobile/Telephone Allowance 1000/- per month exempted from tax (on submission of bills)
Medical Reimbursement 1250/- per month is exempted (on submission of bills)
LTA 20% of the Basic once in two years exempted from tax (on submission of bills)
Special Allowances Balance after calculating the above from Gross salary
Gross Per Month Sum of all the above
Note: For Tax saving calculations, can take the help of Accounts Department
Regards
C Karthik
From India, Bangalore
Basic 50% of Gross Salary
HRA 40% of Basic
Conveyance 800/- per month is exempted from tax
Mobile/Telephone Allowance 1000/- per month exempted from tax (on submission of bills)
Medical Reimbursement 1250/- per month is exempted (on submission of bills)
LTA 20% of the Basic once in two years exempted from tax (on submission of bills)
Special Allowances Balance after calculating the above from Gross salary
Gross Per Month Sum of all the above
Note: For Tax saving calculations, can take the help of Accounts Department
Regards
C Karthik
From India, Bangalore
Dear Munali,
U can deduct bonus @8.33% of basic on ctc.
Eg:- Annual ctc - 200000
200000/12=16667 is p/m ctc. now u can ded. bonus from this.
16667/105*100=15873
16667-15873=794
794 is bonus p/m
gross p/m is 15873. now 60% of gross is basic, 30% is hra, 800 convence, rest is spl allowence.
Thnx
monu
basic:- @ 60%
From India, Ambala
U can deduct bonus @8.33% of basic on ctc.
Eg:- Annual ctc - 200000
200000/12=16667 is p/m ctc. now u can ded. bonus from this.
16667/105*100=15873
16667-15873=794
794 is bonus p/m
gross p/m is 15873. now 60% of gross is basic, 30% is hra, 800 convence, rest is spl allowence.
Thnx
monu
basic:- @ 60%
From India, Ambala
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Creating a Competitive Salary Structure.doc
Salary Structure.zip