Particulars Monthly (Rs.) Yearly (Rs.) Gross Pay Components
Basic Salary 7400 88800 House Rent Allowance 2960 35520 Innovative Allowance 1517 18204 Conveyance Allowance 1600 19200 Washing Allowance 2000 24000 Monthly Total 15477 185724
Annual benefits
Medical Allowance* 0 0 Leave Travel Allowance 0 0 Bonus 1400 16800 Total Annual Benefit 1400 16800
Annualized Retirals
Provident Fund - Employer Contribution 888 10656 ESI - Employer Contribution 735.1575 8821.89 Total Annualized Retirals 1623 19478 Total Cost to Company (A+B+C) 18500 222002
From India, Pune
494Basic Salary 7400 88800 House Rent Allowance 2960 35520 Innovative Allowance 1517 18204 Conveyance Allowance 1600 19200 Washing Allowance 2000 24000 Monthly Total 15477 185724
Annual benefits
Medical Allowance* 0 0 Leave Travel Allowance 0 0 Bonus 1400 16800 Total Annual Benefit 1400 16800
Annualized Retirals
Provident Fund - Employer Contribution 888 10656 ESI - Employer Contribution 735.1575 8821.89 Total Annualized Retirals 1623 19478 Total Cost to Company (A+B+C) 18500 222002
From India, Pune
Thank you Prasant for a great reply but 18500 is inhand salary, not CTC. I want to know the breakup for the 18.5k inhand monthly package.
From India, Delhi
From India, Delhi
Providing Categorywise details of Current Minimum Wages applicable to New Delhi as under:
Minimum rates of wages in Rupees Per Month Per Day All Schedule employments Unskilled 13,350/- 513/- Semi-skilled 14,698/- 565/- Skilled 16,182/- 622/-
Clerical and supervisory staff Non-Matriculate 14,698/- 565/- Matriculate but not Graduate 16,182/- 622/- Graduate and above 17,604/- 677/-
As stated by you, your company is not covered under PF & ESI, and Professional Tax is not applicable to New Delhi. Therefore, there is no statutory deduction to be made from your salary, and hence you will get a full salary in hand, i.e., Rs. 18,500/-. Instead of going for any salary breakup, pay a consolidated salary of Rs. 18,500/- per month. OR Still, if you insist on any breakup, you may subtract any of the amounts shown above applicable to your category from Rs. 18,500/-, and the remaining amount can be shown as HRA, Medical Allowance, or Commuting Allowance.
Suresh
From India, Thane
Minimum rates of wages in Rupees Per Month Per Day All Schedule employments Unskilled 13,350/- 513/- Semi-skilled 14,698/- 565/- Skilled 16,182/- 622/-
Clerical and supervisory staff Non-Matriculate 14,698/- 565/- Matriculate but not Graduate 16,182/- 622/- Graduate and above 17,604/- 677/-
As stated by you, your company is not covered under PF & ESI, and Professional Tax is not applicable to New Delhi. Therefore, there is no statutory deduction to be made from your salary, and hence you will get a full salary in hand, i.e., Rs. 18,500/-. Instead of going for any salary breakup, pay a consolidated salary of Rs. 18,500/- per month. OR Still, if you insist on any breakup, you may subtract any of the amounts shown above applicable to your category from Rs. 18,500/-, and the remaining amount can be shown as HRA, Medical Allowance, or Commuting Allowance.
Suresh
From India, Thane
Dear Tushar,
If leave is availed, the employee gets full salary including all allowances. This question arises only for leave encashment. Legally, encashment is payable on Basic + D.A. However, in some establishments, there is no separate component of D.A. Those companies are paying leave encashment either on full salary including all allowances or considering some components/allowances along with Basic salary for leave encashment. There is no uniform policy other than Basic + D.A.
Regards,
Suresh
From India, Thane
If leave is availed, the employee gets full salary including all allowances. This question arises only for leave encashment. Legally, encashment is payable on Basic + D.A. However, in some establishments, there is no separate component of D.A. Those companies are paying leave encashment either on full salary including all allowances or considering some components/allowances along with Basic salary for leave encashment. There is no uniform policy other than Basic + D.A.
Regards,
Suresh
From India, Thane
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