Hi, I am working with a small company,the co, is having 20 employees and salary is between 10 to 30 k pm, i want to do perfect salary structure as per current IT slab for the employees where i can give them salary slip, If gross salary is 30 k how should i prepare salary structure like what should be % of basic,HRA etc.
I am going to prepare salary structure first time if you people help me it would be great help for me. If we mention medical allowances in salary slip is it necessary to tie up with medical or insurance co for the same?
Thanks
Jayu
From India, Pune
I am going to prepare salary structure first time if you people help me it would be great help for me. If we mention medical allowances in salary slip is it necessary to tie up with medical or insurance co for the same?
Thanks
Jayu
From India, Pune
Dear Jayashree,
Salary Strcuture is as per the following
CTC = FIxed Pay + VAriable Pay
Basic = 40%of Fixed CTC.
Choice pay or (Tax saving options ) = 60%of Fixed CTC
Take home = Gross - Deductions
Gross = Basic + HRA + DA+ CA+Medical etc
Deductions = PF, PT
Medical can also be used as tax saving option. Usually it is 1250/- Monthly .i.e 15000 annualy. The employee can show the bills regarding the same and claim monthwise. For this you dont need a tie up.
Dear Seniors please correct in case the data is incorerct
From India, Mumbai
2Salary Strcuture is as per the following
CTC = FIxed Pay + VAriable Pay
Basic = 40%of Fixed CTC.
Choice pay or (Tax saving options ) = 60%of Fixed CTC
Take home = Gross - Deductions
Gross = Basic + HRA + DA+ CA+Medical etc
Deductions = PF, PT
Medical can also be used as tax saving option. Usually it is 1250/- Monthly .i.e 15000 annualy. The employee can show the bills regarding the same and claim monthwise. For this you dont need a tie up.
Dear Seniors please correct in case the data is incorerct
From India, Mumbai
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Creating a Competitive Salary Structure.doc
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