Hi Everyone,
I'm hoping to better understand the typical salary structure for companies in Lucknow. Specifically, I'd like to clarify the following:
Breakdown of CTC (Cost To Company)
Gross salary
Net Pay vs. CTC
Understanding Deductions
Statutory Bonus
TDS
Any insights you can share about the Lucknow market and these salary components would be greatly appreciated. Thanks!
From India, Lucknow
I'm hoping to better understand the typical salary structure for companies in Lucknow. Specifically, I'd like to clarify the following:
Breakdown of CTC (Cost To Company)
Gross salary
Net Pay vs. CTC
Understanding Deductions
Statutory Bonus
TDS
Any insights you can share about the Lucknow market and these salary components would be greatly appreciated. Thanks!
From India, Lucknow
Hi Aishwarya
Currently there is no rule to have such standard breakups in salary structure.
You decide the wages/salary of the employees
Have Basic & DA which is not lesser than the scheduled Minimum wages
Have 40% of the HRA Component from the Basic wages
Other component can be considered on the various allowances which includes tax free allowances & it all depends on the total wages of the employee.
Deductions as such are no PT for UP hence its 0
ESI @0.75% on total wages if gross salary is upto 21,000/-
EPF @12% which might restrict to the ceiling limit of 15,000/-
TDS as applicable
Company contribution towards gratuity, ESI, EPF, Insurance etc may be part of CTC
From India, Bangalore
638Currently there is no rule to have such standard breakups in salary structure.
You decide the wages/salary of the employees
Have Basic & DA which is not lesser than the scheduled Minimum wages
Have 40% of the HRA Component from the Basic wages
Other component can be considered on the various allowances which includes tax free allowances & it all depends on the total wages of the employee.
Deductions as such are no PT for UP hence its 0
ESI @0.75% on total wages if gross salary is upto 21,000/-
EPF @12% which might restrict to the ceiling limit of 15,000/-
TDS as applicable
Company contribution towards gratuity, ESI, EPF, Insurance etc may be part of CTC
From India, Bangalore
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