Dear All I have join hr dept. fro 3 months and i have to give the best salary structure to the management pl. guide me can give me pl cl and sl compulsory by the govt. apurva 9879089421
From India, Vadodara
From India, Vadodara
Hi Apurva,
Congratulations.. for the assignments..
The contents of the salary break up is as below, you can prepare it at the suitability of your own. HRA would be 50 or 60% of basic.
Basic
HRA
TA
Other Allowance
MobileReimbursement / Month
Gross Per Month = Sum of all the above.
GrossPer Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESIContribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximumceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount asBonus
Annual Fixed GrossCost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Hope now it will be very much clear to you,
if you have any query feel free to ask.
Yes it is almost compulsory that you have to give approx 30 days of leaves in a year..
Regards,
Amit Seth.
From India, Ahmadabad
496Congratulations.. for the assignments..
The contents of the salary break up is as below, you can prepare it at the suitability of your own. HRA would be 50 or 60% of basic.
Basic
HRA
TA
Other Allowance
MobileReimbursement / Month
Gross Per Month = Sum of all the above.
GrossPer Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESIContribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximumceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount asBonus
Annual Fixed GrossCost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Hope now it will be very much clear to you,
if you have any query feel free to ask.
Yes it is almost compulsory that you have to give approx 30 days of leaves in a year..
Regards,
Amit Seth.
From India, Ahmadabad
Dear Amit
THank you very much it has clear all the doubts that i had before this mail
one more question can u forward me the form list of pf i.e. form 2 and 5 for registration and all the form details please.
hopeing for reply
thanking you
apurva joshi
9879089421
From India, Vadodara
THank you very much it has clear all the doubts that i had before this mail
one more question can u forward me the form list of pf i.e. form 2 and 5 for registration and all the form details please.
hopeing for reply
thanking you
apurva joshi
9879089421
From India, Vadodara
Hi Apurva..
You most welcome..
Its good that it has solved your query..
As you have asked regarding teh PF forms and all, find below the informations over PF as i have with me regarding the same..
Hey as your organisation must be registered with the PF, so you must have a PF code..
The things which are to be done with PF is--
1. Nomination- Every employee on becoming a memeber is required to submit a nomination form in the Form No. 2 to his employer.
The employer is required to give the list of all employees entitled to become members of the scheme
on the date of its application, in FORM-9, within 15 days of such date.
2. Further the employer is required to submit a monthly return in FORM 5 giving the names and other particulars of the New members. This form is to be submitted within 15 days of of teh close of every month along with Nomination form of each new employee.
If no new members join the fund in a month, a NIL return should be sent.
3. The employer should within 15 days of the close of every month deposit the total amount of teh employer's and employee's contribution and Administrative charges with PF Commissioner into the respective accounts maintained at the State Bank Of India. It should be deposited along with respective challans.
If the employer defaults in making Payments of any contribution , he shall be liable to pay, by way of penalty, damages at the following rates-
Lesss than 2 months- 17% Per Annum
6 months n above - 37% Per annum
Apart from this the contribution amount are deposited along with Challans.
Hope it must have solved some of your query..
Regards,
Amit Seth.
From India, Ahmadabad
You most welcome..
Its good that it has solved your query..
As you have asked regarding teh PF forms and all, find below the informations over PF as i have with me regarding the same..
Hey as your organisation must be registered with the PF, so you must have a PF code..
The things which are to be done with PF is--
1. Nomination- Every employee on becoming a memeber is required to submit a nomination form in the Form No. 2 to his employer.
The employer is required to give the list of all employees entitled to become members of the scheme
on the date of its application, in FORM-9, within 15 days of such date.
2. Further the employer is required to submit a monthly return in FORM 5 giving the names and other particulars of the New members. This form is to be submitted within 15 days of of teh close of every month along with Nomination form of each new employee.
If no new members join the fund in a month, a NIL return should be sent.
3. The employer should within 15 days of the close of every month deposit the total amount of teh employer's and employee's contribution and Administrative charges with PF Commissioner into the respective accounts maintained at the State Bank Of India. It should be deposited along with respective challans.
If the employer defaults in making Payments of any contribution , he shall be liable to pay, by way of penalty, damages at the following rates-
Lesss than 2 months- 17% Per Annum
6 months n above - 37% Per annum
Apart from this the contribution amount are deposited along with Challans.
Hope it must have solved some of your query..
Regards,
Amit Seth.
From India, Ahmadabad
Hi Apurva,
Regarding the registration of an organisation with the PF.. the formalities are-
Even for this Act also the minimum number of employee should be 20.
Every employer of an establishment to which the Employee Provident Fund Act applies, should submit in Form 5A(in duplicate) to the commisioner, particulars of all the branches and departments, owners, directors, partners if any or any other person who is controlling its affair within 15 days of its applicability of the scheme.
On receipt of Form 5A, the commisioner shall verify the particulars submitted and after been satisfied shall allot an Establishment Code No.
Regards,
Amit Seth.
From India, Ahmadabad
Regarding the registration of an organisation with the PF.. the formalities are-
Even for this Act also the minimum number of employee should be 20.
Every employer of an establishment to which the Employee Provident Fund Act applies, should submit in Form 5A(in duplicate) to the commisioner, particulars of all the branches and departments, owners, directors, partners if any or any other person who is controlling its affair within 15 days of its applicability of the scheme.
On receipt of Form 5A, the commisioner shall verify the particulars submitted and after been satisfied shall allot an Establishment Code No.
Regards,
Amit Seth.
From India, Ahmadabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Creating a Competitive Salary Structure.doc
Salary Structure.zip