I have recently landed a job opportunity in a leading SW MNC in India. Though they are giving me a 20% hike over CTC, they are offering a lower basic salary. My current basic salary is about 24K, and they are offering around 20K. Please advise on how this impacts me and whether I should proceed with the offer.
From India, Chennai
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From India, Chennai
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Oh Brother don’t do this they tricked you actually all allowances including gratuity calculate on Basic pay when basic is less then there is no meaning of hike in CTC.
From India, Srinagar
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1From India, Srinagar
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You need to speak to them on this ground as all components of salary, i.e., allowances, are completely dependent on the basic salary. It is a hidden adjustment that they have done just to show you that they are giving you a hike on your current salary. Request them to restructure the offered salary and send you the Offer Letter again. Good luck to you!
From India, Mumbai
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From India, Mumbai
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Take-home pay is increasing by 22%. The breakdown provided indicates that the monthly salary is X. I will receive X minus PF minus TDS. X is currently 22% higher than my current monthly salary (Y) before the deduction of PF and TDS.
From India, Chennai
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From India, Chennai
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Hello Windrider24584,
I think you got your definition of 'take-home' all wrong. The X that you mentioned is the Gross......Take-home [aka 'Net Salary'] is what you get AFTER the deductions you mentioned -- PF, TDS, etc. The Gross can also be = CTC, though not necessarily so.
Without getting into the nitty-gritty, like Abikesh & Ashwini suggested, get them to change the CTC Structure so that the Basic is higher than what you have now [how much higher to ask is up to you]. Please note that the standard line HR takes in such situations is 'we are covering you thru other payment heads', but DON'T buy it. The other Allowances, etc., can ALWAYS change later [depending on many factors] but the Basic WILL HAVE TO be maintained constant, except for performance-related aspects/situations. If they really want you, most IT Companies.... more so MNCs...... have ways of tackling such requests.
Hope you get the point. All the Best.
Regards,
TS
From India, Hyderabad
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I think you got your definition of 'take-home' all wrong. The X that you mentioned is the Gross......Take-home [aka 'Net Salary'] is what you get AFTER the deductions you mentioned -- PF, TDS, etc. The Gross can also be = CTC, though not necessarily so.
Without getting into the nitty-gritty, like Abikesh & Ashwini suggested, get them to change the CTC Structure so that the Basic is higher than what you have now [how much higher to ask is up to you]. Please note that the standard line HR takes in such situations is 'we are covering you thru other payment heads', but DON'T buy it. The other Allowances, etc., can ALWAYS change later [depending on many factors] but the Basic WILL HAVE TO be maintained constant, except for performance-related aspects/situations. If they really want you, most IT Companies.... more so MNCs...... have ways of tackling such requests.
Hope you get the point. All the Best.
Regards,
TS
From India, Hyderabad
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