Friends,
I need to know salary structure in order to get/give 20k p.m in hand.
Please let me know if you need more details.
Hope you would be able to squeeze some time amid your busy schedule for the response.
Thx
From India, Calcutta
I need to know salary structure in order to get/give 20k p.m in hand.
Please let me know if you need more details.
Hope you would be able to squeeze some time amid your busy schedule for the response.
Thx
From India, Calcutta
1
Deepak: Please let me know what shud be gross CTC. Would appreciate if you could send me complete salary structure. Thx
From India, Calcutta
From India, Calcutta
Hello..
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
Mobile Reimbursement / Month
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling 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 as Bonus
Annual Fixed Gross Cost= 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.
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
Mobile Reimbursement / Month
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling 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 as Bonus
Annual Fixed Gross Cost= 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.
Regards,
Amit Seth.
From India, Ahmadabad
Dear Friend,
You have given good explanation. Can you please caluculate the same 20k and CTC of that so that it will be very clear. Kindly do the needful please. Further can discuss what are the taxable in the pay structure with the limits.
Thanks,
dennis
From India, Manipal
You have given good explanation. Can you please caluculate the same 20k and CTC of that so that it will be very clear. Kindly do the needful please. Further can discuss what are the taxable in the pay structure with the limits.
Thanks,
dennis
From India, Manipal
Hi, Just see this salary break-up that I use , may be of some help to you. Change the figures in the Anuual entitlemet coloumn abd rest will change accordinagly. Cordially, preet
From India, Bangalore
From India, Bangalore
Thanks to everyone for their efforts.
Preet, thx for uploading the sheet.
However I am still unable to get the right answer. As I have written in my earlier post that, Net Monthly Salary payable must be 20k. So keeping in mind this figure how do you give breakups. I mean to say, the employee must get 20k in hand/take home salary.
Now, I need Basic, HRA, TA, Conveyance..& other components in order to make Net Monthly salary to 20k.
Pls let me know if any of you experts need more clarifications.
Thx
From India, Calcutta
Preet, thx for uploading the sheet.
However I am still unable to get the right answer. As I have written in my earlier post that, Net Monthly Salary payable must be 20k. So keeping in mind this figure how do you give breakups. I mean to say, the employee must get 20k in hand/take home salary.
Now, I need Basic, HRA, TA, Conveyance..& other components in order to make Net Monthly salary to 20k.
Pls let me know if any of you experts need more clarifications.
Thx
From India, Calcutta
Dear Yusuf..
Everyone has given his/her best efforts to prepare you the same, only you have to put the figures according to your requirement, anyways you may this structure also-
Salary Head Amount
Basic 8000
HRA 4800
TA 800
Medical Reimbursement 1250
Other Allowance 6000
Gross Per Month 20850
It is more than 20k.. because if you have to deduct the PF amount then it will come around 780/- rupees if calculated on ceiling i.e 6500/- basic salary.
So after that deduction it will be according to your requirement of 20k in hand or take home salary.
Hope it will help you to reach your solution.
Regards,
Amit Seth.
From India, Ahmadabad
Everyone has given his/her best efforts to prepare you the same, only you have to put the figures according to your requirement, anyways you may this structure also-
Salary Head Amount
Basic 8000
HRA 4800
TA 800
Medical Reimbursement 1250
Other Allowance 6000
Gross Per Month 20850
It is more than 20k.. because if you have to deduct the PF amount then it will come around 780/- rupees if calculated on ceiling i.e 6500/- basic salary.
So after that deduction it will be according to your requirement of 20k in hand or take home salary.
Hope it will help you to reach your solution.
Regards,
Amit Seth.
From India, Ahmadabad
Amit Bhai: Thx for your response. I will figure out your structure & let you all know if further assistance required. Thx
From India, Calcutta
From India, Calcutta
Hello
You were to just chnage the figures in the Annual Entitlement col to bring the desired figure. I have done so fo you and am uploading the second sheet.
Now some of the figures for the adminstrative purposes are not given as monthly entitlement but as yearly/quartely entitlements. All put to gether we are close to 20 K. Choice is of the company , it can be given monthly too
Cordially,
preet
From India, Bangalore
You were to just chnage the figures in the Annual Entitlement col to bring the desired figure. I have done so fo you and am uploading the second sheet.
Now some of the figures for the adminstrative purposes are not given as monthly entitlement but as yearly/quartely entitlements. All put to gether we are close to 20 K. Choice is of the company , it can be given monthly too
Cordially,
preet
From India, Bangalore
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Typical salary breakup.jpg
Salary breakup.xls
Salary Breakup Annexure.doc