Dear Cite HR members,
I am trying to redesign salary break up, ! Pl help me in making a better salary structure(Break up) with percentages, for employees, working in pharma manufacturing unit! and what should be the minimum basic salary?
Give an example for Break up..say 30,000 Gross Salary per month....
Including Statutory benefits like EPF etc!!!
plz....help me!!
Awaiting your reply!!!
thanx in advance!!!
satish renikunta
From India, Hyderabad
I am trying to redesign salary break up, ! Pl help me in making a better salary structure(Break up) with percentages, for employees, working in pharma manufacturing unit! and what should be the minimum basic salary?
Give an example for Break up..say 30,000 Gross Salary per month....
Including Statutory benefits like EPF etc!!!
plz....help me!!
Awaiting your reply!!!
thanx in advance!!!
satish renikunta
From India, Hyderabad
To break up is fine, but I know about something that a few successful companies does. Why not think about fixing the gross pay and only a fixed basic pay, so that employee can decide as to what break up he wants depending upon the knowledge of taxation that he has.
I say this only after observing few such companies. Also, I if I were an employee would be glad to see such change where I can decide what I should get in what way.
For an example, Food allowance is deducted from tax upto a certain limit and magazine allowance is deducted upto a certain limit. The limit varies for employees salary range, So let them decide what they want.
For more information if you are strictly looking for a salary break up you may just refer to Tax on salaries by Muthuswami and Brinda, a small book, can be read in around 90 mins.
Regards,
VINAY
From India
6I say this only after observing few such companies. Also, I if I were an employee would be glad to see such change where I can decide what I should get in what way.
For an example, Food allowance is deducted from tax upto a certain limit and magazine allowance is deducted upto a certain limit. The limit varies for employees salary range, So let them decide what they want.
For more information if you are strictly looking for a salary break up you may just refer to Tax on salaries by Muthuswami and Brinda, a small book, can be read in around 90 mins.
Regards,
VINAY
From India
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