I joined a startup IT company with almost 10 employees.
So there are no PF and other mandatory deductions, I hope.
So how should I make the salary structure and what should be its important components?
Suppose the gross salary is Rs. 4,00,000 and 1L annual bonus, then what should be the breakup for Bangalore location?
Please help me.
From India, Calcutta
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1So there are no PF and other mandatory deductions, I hope.
So how should I make the salary structure and what should be its important components?
Suppose the gross salary is Rs. 4,00,000 and 1L annual bonus, then what should be the breakup for Bangalore location?
Please help me.
From India, Calcutta
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Hi Avantika I feel it is better to register for PF contribution. If need share me ur mail ID so that I shall share wage structure. :)
From India, Bangalore
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From India, Bangalore
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Hi Avantika,
The following components are basically used by many IT companies:
1) Basic - 40% or 50%
2) HRA - 50% (Metro) 40% (Non-Metro)
3) Conveyance - 9600/- per annum
4) Medical Allowances - 15000/- per annum
5) Telephones & Internet - up to company standard
6) Food Coupon - Max 2600/- per month
7) Gratuity - 4.81% of Basic
8) Leave encashment
9) LTA - Rs. 35000/- per annum
Deductions:
- Profession Tax (As per State PT Slab)
- Salary Income Tax
I hope this will help you.
From India, Madras
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The following components are basically used by many IT companies:
1) Basic - 40% or 50%
2) HRA - 50% (Metro) 40% (Non-Metro)
3) Conveyance - 9600/- per annum
4) Medical Allowances - 15000/- per annum
5) Telephones & Internet - up to company standard
6) Food Coupon - Max 2600/- per month
7) Gratuity - 4.81% of Basic
8) Leave encashment
9) LTA - Rs. 35000/- per annum
Deductions:
- Profession Tax (As per State PT Slab)
- Salary Income Tax
I hope this will help you.
From India, Madras
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Typical salary breakup.jpg
Salary breakup format.xls
Salary & Compensation Guidelines.zip