Hi All, We are IT based company in Noida, having employee strength of 40 . It is requested to kindly share with me salary break up for 5,00,000 Per Month.
From India, Delhi
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13From India, Delhi
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Hi Swati, Rs.5.00 L. Is’t CTC or only gross salary other than annual benefits like bonus, gratuity, employer’s PF etc.
From India, Bangalore
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From India, Bangalore
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Hi Kumar S.,
Thank you for your reply. It is gross only, excluding bonus and any other employee benefits. I am looking for a salary break-up for a higher pay. I have searched over the internet but want to be sure. Kindly revert back.
From India, Delhi
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Thank you for your reply. It is gross only, excluding bonus and any other employee benefits. I am looking for a salary break-up for a higher pay. I have searched over the internet but want to be sure. Kindly revert back.
From India, Delhi
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Hi Swati,
A model workflow is attached, and you are free to modify it to suit your requirements. In the absence of a clear-cut HR policy, I could only imagine certain general allowances/patterns, which may or may not align with your thinking. Before proceeding further, you should refer to the terms and conditions of the employee's appointment and ensure that what has been committed therein is not omitted in finalizing this structure. Most of the components have no legal backing or stipulation; therefore, the consent of both sides is sufficient.
From India, Bangalore
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A model workflow is attached, and you are free to modify it to suit your requirements. In the absence of a clear-cut HR policy, I could only imagine certain general allowances/patterns, which may or may not align with your thinking. Before proceeding further, you should refer to the terms and conditions of the employee's appointment and ensure that what has been committed therein is not omitted in finalizing this structure. Most of the components have no legal backing or stipulation; therefore, the consent of both sides is sufficient.
From India, Bangalore
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@Loginmiraclelogistics In the document, EPF is calculated as 12% of Basic + DA + HRA. Isn’t HRA specifically excluded from the EPF calculation?
From India, Kottayam
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From India, Kottayam
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Hi John,
The model of Rs. 5 L per month is, in any case, outside the purview of compulsory deduction under the EPF Act if the salary exceeds Rs. 15,000. Additionally, the 12% contribution itself cannot be considered as part of the earnings since it is a deduction towards EPF. To itemize the components of such a high income, it has been intentionally included in the 'earnings' category. Therefore, whether it is a 10% or 12% contribution does not make a difference as these are voluntary variables. Employers are free to determine their own contribution percentages and different components such as refresher allowances, incentives, festival gifts, business development allowances, sumptuous allowances, chauffeur/chowkidar allowances, lawn and furniture/quarters allowances, and so forth.
From India, Bangalore
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The model of Rs. 5 L per month is, in any case, outside the purview of compulsory deduction under the EPF Act if the salary exceeds Rs. 15,000. Additionally, the 12% contribution itself cannot be considered as part of the earnings since it is a deduction towards EPF. To itemize the components of such a high income, it has been intentionally included in the 'earnings' category. Therefore, whether it is a 10% or 12% contribution does not make a difference as these are voluntary variables. Employers are free to determine their own contribution percentages and different components such as refresher allowances, incentives, festival gifts, business development allowances, sumptuous allowances, chauffeur/chowkidar allowances, lawn and furniture/quarters allowances, and so forth.
From India, Bangalore
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Dear Swati,
The CTC structure depends upon the compliance level and scale of salary payable to the employees. In case all employees are on a low scale, a simple CTC format can be applicable for all. However, if the salary scale is higher, it should be tax-friendly and maximize take-home pay.
Please find attached the standard format (ESI included and excluded). You can modify the structure as per your requirements and company policy.
Thank you.
From India, Delhi
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The CTC structure depends upon the compliance level and scale of salary payable to the employees. In case all employees are on a low scale, a simple CTC format can be applicable for all. However, if the salary scale is higher, it should be tax-friendly and maximize take-home pay.
Please find attached the standard format (ESI included and excluded). You can modify the structure as per your requirements and company policy.
Thank you.
From India, Delhi
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Typical salary breakup.jpg
Salary breakup format.xls