Hi there, I've just received my increment in my organization. The issue is that I don't find the structure of the increment right. As per the guidelines, the total increment was supposed to be on a 12% hike, but the final figures are not matching it.
I have my PF exempted; hence, I used to get my in-hand salary as my gross salary and CTC as well. Now, when I'm trying to match the figures from my fellow employees, I find that I have received a hike of 12%, whereas my fellow employees have a net increment of approximately 16%. When inquired, I got an answer that this is because of my PF exemption, as they have received an increment in their PF also.
Henceforth, after an increment of 12% on CTC, the PF is being applied, which makes it an overall 16% increment. Please help.
From India, Delhi
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I have my PF exempted; hence, I used to get my in-hand salary as my gross salary and CTC as well. Now, when I'm trying to match the figures from my fellow employees, I find that I have received a hike of 12%, whereas my fellow employees have a net increment of approximately 16%. When inquired, I got an answer that this is because of my PF exemption, as they have received an increment in their PF also.
Henceforth, after an increment of 12% on CTC, the PF is being applied, which makes it an overall 16% increment. Please help.
From India, Delhi
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Dear Shuiv,
What do you mean by "I have got my PF exempted hence I used to get my in-hand salary as my gross salary and CTC as well"? Please provide full details with figures. Why are you exempted from PF?
From India, New Delhi
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691What do you mean by "I have got my PF exempted hence I used to get my in-hand salary as my gross salary and CTC as well"? Please provide full details with figures. Why are you exempted from PF?
From India, New Delhi
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Your company's HR team is correct. The benefit of an increase in the contribution of your colleagues is an additional benefit the company is providing. In most cases, HR would have given your colleagues a lesser increment to compensate for the increased PF contribution, but they seem to have decided instead to provide them with an extra benefit.
From India, Mumbai
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From India, Mumbai
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@Shree Nath Sai Ram
Sir,
I filled out Form 11 to receive the employee's share in my take-home salary. Below is the breakdown of the salary increment that occurred:
Others:
- Last take-home: 23030
- Last PF employer contribution: 1470
- Last PF employee contribution: 1470
- Last gross salary: 24500
- Last CTC: 25970
- Increment: 12%
However, the current CTC is now 31001 with a gross salary of 29086.
My details:
- Take-home: 24500
- Gross salary: 24500
- CTC: 24500
- PF: nil
- Increment: 12%
- Current CTC: 27440
- Gross salary: 27440
Thank you!
CTC: 27440
From India, Delhi
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Sir,
I filled out Form 11 to receive the employee's share in my take-home salary. Below is the breakdown of the salary increment that occurred:
Others:
- Last take-home: 23030
- Last PF employer contribution: 1470
- Last PF employee contribution: 1470
- Last gross salary: 24500
- Last CTC: 25970
- Increment: 12%
However, the current CTC is now 31001 with a gross salary of 29086.
My details:
- Take-home: 24500
- Gross salary: 24500
- CTC: 24500
- PF: nil
- Increment: 12%
- Current CTC: 27440
- Gross salary: 27440
Thank you!
CTC: 27440
From India, Delhi
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