Hi all, I am very much new into HR field and working for a ITES Industry so can any one help me out in making a salary break up like what are the percentages to be taken into consideration to make a perfect salary break up. Like how is HRA, PF, ESI, TA, DA etc are calculated?
From India, Hyderabad
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1From India, Hyderabad
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Dear Kartik
This Is Ritesh understand ur question and it proves that u r realy new in the HR Field .
Dear some of the things as u mention they are fix but most of the things are variable ccording to city For Eg. HRA in metropolitant city ur HRA Is more as compaired to normal city, But PF Is fixed for all companies that is 12% of ur Basic pay and on that 12% 3.77% goes to pension fund.
And Other like TA DA etc Are variate according to company and their policy.
And i give you personnal Sugeestion that Its better for you that if you go throgh any Industrial Law Book i Asure u that 80% persent of ur query you can solve by urself only.
Hope it will Help u
Let me know ur feeddback for the same
Ritesh
Recruiter Consultant, Hyderabad [/quote]
From India, New Delhi
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This Is Ritesh understand ur question and it proves that u r realy new in the HR Field .
Dear some of the things as u mention they are fix but most of the things are variable ccording to city For Eg. HRA in metropolitant city ur HRA Is more as compaired to normal city, But PF Is fixed for all companies that is 12% of ur Basic pay and on that 12% 3.77% goes to pension fund.
And Other like TA DA etc Are variate according to company and their policy.
And i give you personnal Sugeestion that Its better for you that if you go throgh any Industrial Law Book i Asure u that 80% persent of ur query you can solve by urself only.
Hope it will Help u
Let me know ur feeddback for the same
Ritesh
Recruiter Consultant, Hyderabad [/quote]
From India, New Delhi
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Hi ritesh, Thanks for providing me valuable information anyhow can you suggest me some good books on this topic which help me out. waiting for your reply thanks, karthik
From India, Hyderabad
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From India, Hyderabad
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Hi Kartik,
Hope every thing is fine on ur end, i already told you that any law book will help u on this regard, but if u want 2 knw the name of books some are like, For Personnel Management CV Mammoria, K. Ashwatthapa is their & For Law any industrial Law book will help you like.
But i Suggest u 2 Go Thru CV Maammoria it will help u for long Run Also......
tkcr
bye
From India, New Delhi
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Hope every thing is fine on ur end, i already told you that any law book will help u on this regard, but if u want 2 knw the name of books some are like, For Personnel Management CV Mammoria, K. Ashwatthapa is their & For Law any industrial Law book will help you like.
But i Suggest u 2 Go Thru CV Maammoria it will help u for long Run Also......
tkcr
bye
From India, New Delhi
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Hi all, I would like to know about the HRA percentage calculation in the salary break up.
From India, Chennai
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From India, Chennai
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Dear Colleague,
It is suggested to align the structure with the proposed "wage" definition under the Code on Wages 2019 if your organization is ready to do that.
As per the new definition proposed, 3 components - Basic, DA, Retaining Allowance if any, are to be 50% of the total CTC or total Components.
The remaining 50% may be distributed to the other heads like HRA and statutory aspects like PF, ESI, Gratuity, Bonus, and so on in the CTC structure in line with the statutory % stipulated under the relevant provisions. You may create a standard template for your use.
PF is 12%
ESI is 4.75%
Gratuity at 15 days of Basic, DA, Retaining Allowance
Leave Wages
Bonus, and so on.
All the Best, God Bless,
Dr. P. SIVAKUMAR
Doctor Siva Global HR
Tamil Nadu
From India, Chennai
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It is suggested to align the structure with the proposed "wage" definition under the Code on Wages 2019 if your organization is ready to do that.
As per the new definition proposed, 3 components - Basic, DA, Retaining Allowance if any, are to be 50% of the total CTC or total Components.
The remaining 50% may be distributed to the other heads like HRA and statutory aspects like PF, ESI, Gratuity, Bonus, and so on in the CTC structure in line with the statutory % stipulated under the relevant provisions. You may create a standard template for your use.
PF is 12%
ESI is 4.75%
Gratuity at 15 days of Basic, DA, Retaining Allowance
Leave Wages
Bonus, and so on.
All the Best, God Bless,
Dr. P. SIVAKUMAR
Doctor Siva Global HR
Tamil Nadu
From India, Chennai
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