Dear Sir,
Kindly suggest me the proper salary structure as per the today's minimum wages.
My sister got the offer from a renowned company, but we are confused in the salary structure part.
Kindly see the attached document and suggest us the proper solution.
Thanks & Best Regards
Rashmi
From India, Mumbai
1Kindly suggest me the proper salary structure as per the today's minimum wages.
My sister got the offer from a renowned company, but we are confused in the salary structure part.
Kindly see the attached document and suggest us the proper solution.
Thanks & Best Regards
Rashmi
From India, Mumbai
Dear All Respectives, Is anything wrong i have asked ??? Awaiting for the suggestions. Kindly provide me your suggestions to proceed further. Thanks & Best Regards Rashmi
From India, Mumbai
From India, Mumbai
The offer is much above the minimum wages. As per present trend , this is ok to my opinion. But with the proposed change of different labor laws (e.g Wage code - combining Minimum Wage, Payment of Wage, Payment of Bonus and Equal remuneration acts ) the concept of different pockets in remuneration component will also be change in future. For example in Wage code there is definition of wage and monthly gross wage will be 2/3 rd as wage and 1/3 rd as allowances.
S K Bandyopadhyay ( WB, Howrah)
From India, New Delhi
S K Bandyopadhyay ( WB, Howrah)
From India, New Delhi
Thank you Bandyopadhyay Sir for your kind response.
But i am having one confusion..
Basic should be 50 % of total earnings
For example - If someones Total earnings - 50,000/- so atleast his Basic should be around 23,000/- on which HRA and other things were calculated.?????
Kindly suggest..
From India, Mumbai
But i am having one confusion..
Basic should be 50 % of total earnings
For example - If someones Total earnings - 50,000/- so atleast his Basic should be around 23,000/- on which HRA and other things were calculated.?????
Kindly suggest..
From India, Mumbai
There are several opinion about % of Basic wrt monthly gross. Based on recent Supreme Court Verdict and proposed definition of wage (instead of Basic) for PF Act , the things will be change in near future. As on date if Basic is more than 15,000/- it is acceptable by PF Authority. But Basic is considered not only for PF but also for Gratuity etc. Organizations are keeping the Basic level low to minimize other cost related to basic.
With the change of definition of wage even Basic is low at present will be enhanced in future as per new amendment. The focus is 2/3rd of monthly gross will be wage ( Basic or Basic+DA) and 1/3rd of monthly gross will be other allowances.
S K Bandyopadhyay (WB, Howrah),
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
With the change of definition of wage even Basic is low at present will be enhanced in future as per new amendment. The focus is 2/3rd of monthly gross will be wage ( Basic or Basic+DA) and 1/3rd of monthly gross will be other allowances.
S K Bandyopadhyay (WB, Howrah),
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
The wages structure your sister is no way comapred to present rate of minimum wages. The minimum wages have only the Basic with no other components. This is good salary for a beginer.
From India, Mumbai
From India, Mumbai
Dear Sir,
She is not a beginner,,
she is having 12 years of experience.
I raised the query on the Citehr to get the proper knowledge on the salary calculation part.
Salary Calculation part -
Basic
HRA
PF
ESIC
Allowances
And others
And as per the minimum wages - Is basic is OK..
Company has offered good CTC,, but on the CTC,, basic salary they calculated very less.
As per my knowledge basic should be 50% of the gross salary, which affects HRA, gratuity, leave encashments and others. So the company offers less basic to their employees.
KINDLY SUGGEST
From India, Mumbai
She is not a beginner,,
she is having 12 years of experience.
I raised the query on the Citehr to get the proper knowledge on the salary calculation part.
Salary Calculation part -
Basic
HRA
PF
ESIC
Allowances
And others
And as per the minimum wages - Is basic is OK..
Company has offered good CTC,, but on the CTC,, basic salary they calculated very less.
As per my knowledge basic should be 50% of the gross salary, which affects HRA, gratuity, leave encashments and others. So the company offers less basic to their employees.
KINDLY SUGGEST
From India, Mumbai
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Creating a Competitive Salary Structure.doc
Salary Structure.zip