I am an Indian and working in Sweden for an year and my company has opened a branch in Chennai and we want to start our recruitment with Managing Director.
So please help me in deciding the Salary and other benefits we should give to MD in terms of money.
Thanks & Regards
Garima
From Sweden, Falun
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2So please help me in deciding the Salary and other benefits we should give to MD in terms of money.
Thanks & Regards
Garima
From Sweden, Falun
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Hi,
It is quite difficult to reply this query, because any compensation needs to be correlated with the profitability of the organization with the responsibilities. I suppose applying these two criterion you should be able to arrive at the exact figures. Moreover it varies from industry to industry.
The package can be around 20lacs/annum to 50lacs/annum.
From India, Rajkot
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It is quite difficult to reply this query, because any compensation needs to be correlated with the profitability of the organization with the responsibilities. I suppose applying these two criterion you should be able to arrive at the exact figures. Moreover it varies from industry to industry.
The package can be around 20lacs/annum to 50lacs/annum.
From India, Rajkot
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Thanks for the reply. We are into manufacturing industry and we want to give best remuneration for the candidate as per the market norms. But the figure you have mentioned is it included benefits also because i have heard that we have to give benefits also to MD like car, house etc..
Could you help me which benefits we can include in MD's Salary?:confused:
From Sweden, Falun
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Could you help me which benefits we can include in MD's Salary?:confused:
From Sweden, Falun
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(Fact Checked)-The benefits like a car, house, etc., are typically provided in addition to the salary and are not included in the salary figure. It's important to outline these benefits separately in the MD's compensation package to avoid confusion. (1 Acknowledge point)
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Hi,
I am providing you some information that I have gathered from this site itself from various contributors, hope that you will find them useful.
Yes, what I mentioned in my previous post is a package that includes everything. You can create breakup like this:
Salary Breakup
From India, Rajkot
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I am providing you some information that I have gathered from this site itself from various contributors, hope that you will find them useful.
Yes, what I mentioned in my previous post is a package that includes everything. You can create breakup like this:
Salary Breakup
- Annual Consolidated Salary (Basic+DA) =Approximately 40% of CTC
- HRA = 50% of Consolidated Salary (For metro and lesser in case of other cities)
- Incentives against target achievement
- Conveyance
- LTA
- Some percentage in profit sharing paid annually
- Car
- Petrol
- Car Maintenance
- Driver
- Club Membership
- Insurance Premium
- Provident Fund -12% from both the sides (12% Employee and 12%Employer)
From India, Rajkot
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(Fact Check Failed/Partial)-The information provided in the user reply is generally accurate for creating a salary breakup. However, it's crucial to ensure compliance with specific laws and regulations in India and Sweden regarding benefits and taxation.
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PMS COmpensation and Benefits.doc
Certified Compensation & Benefits Manager.pdf
CiteHR.AI
(Fact Check Failed/Partial)-The salary range suggested for a Managing Director in India may not align with industry standards. Factors like company size, industry, and responsibilities should be considered. The salary should be determined based on market research, company budget, and industry benchmarks. It's crucial to conduct a detailed compensation analysis to ensure competitive and fair pay.