yes evn i would like to knw dis. How is salary ,incentives,target calculated for a recruiter??
From India
From India
Being an HR Generalist,I have never handled payroll independently coz i have an A/c Exectuive who does most of the break-up and annexure stuff.
I will be thankful if somebody can help me understand how the salary break up is done.
Sireesha V Deol
From India, Ahmadabad
4I will be thankful if somebody can help me understand how the salary break up is done.
Sireesha V Deol
From India, Ahmadabad
Dear Anuja,
1. If your company mentions CTC in offer letter, that includes contribution of employers for PF and also for ESI (if applicable). Salary breaks varies. Basic, HRA, CCA, CA... there will percentage on these things and will be calculated from gross salary.
Ie. gross salary=CTC - employers Contribution for PF - employers contribution for ESI (if applicable)
-> P.F contribution of both employee and employeer is 12% of the basic
for example: In some companies they would have 55% as Basic, 20% as HRA, 15% as CCA and 10% as CA. (this is calculated from your gross).
And later on your deductions will come like {PT(Professionals Tax), income tax if applicable, or if any loan is given to the employees}
Net payabale = gross salary - total deduction.
2.If your Company mentions Gross in offer letter, it doesnot include contribution of employer for P.F and ESI(if applicable). you need to add employers contribution separately while deducting PF from employee and sending it to PF office.
Hope this information would help you..
From Saudi Arabia
1. If your company mentions CTC in offer letter, that includes contribution of employers for PF and also for ESI (if applicable). Salary breaks varies. Basic, HRA, CCA, CA... there will percentage on these things and will be calculated from gross salary.
Ie. gross salary=CTC - employers Contribution for PF - employers contribution for ESI (if applicable)
-> P.F contribution of both employee and employeer is 12% of the basic
for example: In some companies they would have 55% as Basic, 20% as HRA, 15% as CCA and 10% as CA. (this is calculated from your gross).
And later on your deductions will come like {PT(Professionals Tax), income tax if applicable, or if any loan is given to the employees}
Net payabale = gross salary - total deduction.
2.If your Company mentions Gross in offer letter, it doesnot include contribution of employer for P.F and ESI(if applicable). you need to add employers contribution separately while deducting PF from employee and sending it to PF office.
Hope this information would help you..
From Saudi Arabia
HI Anuja,
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
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
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Creating a Competitive Salary Structure.doc
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