Hi,
The salary components as per my salary slip are:
Basic, Transport Allowance, Medical Allowance, and Education Allowance. Can you help me explain these components? Can I ask my company to add any other component in order to save tax?
It would be great if you could provide the standard salary structure for HR consultants.
Here is some information about my company and my role: I am working since last 20 months with a small ITES company as HR Consultant...I manage the hr processes for this company like Recruitment and Selection, Training and Development and PMS...separately, I work for our clients as offshore hr consultant on Leadership and OB related projects. However, I am not having enough knowledge of compensation mgt. So can you help me out?
I am seeking a job change 'n I am facing this issue as to explain my salary structure...my company doesn't pay me pf, gratuity as according to them consultants are not eligible for pf and gratuity....are they right? Please advice.
Thank you in advance.
Shashank
From India
1The salary components as per my salary slip are:
Basic, Transport Allowance, Medical Allowance, and Education Allowance. Can you help me explain these components? Can I ask my company to add any other component in order to save tax?
It would be great if you could provide the standard salary structure for HR consultants.
Here is some information about my company and my role: I am working since last 20 months with a small ITES company as HR Consultant...I manage the hr processes for this company like Recruitment and Selection, Training and Development and PMS...separately, I work for our clients as offshore hr consultant on Leadership and OB related projects. However, I am not having enough knowledge of compensation mgt. So can you help me out?
I am seeking a job change 'n I am facing this issue as to explain my salary structure...my company doesn't pay me pf, gratuity as according to them consultants are not eligible for pf and gratuity....are they right? Please advice.
Thank you in advance.
Shashank
From India
Hi Shashank,
Each company follows diffirent sructures. Anyway i'l give u the general format which we follow, its really tax saving.
Salary break up
Basic : 50% of gross salary
HRA : 40% of basic
CCA : 20 % of gross salary
Conveyance : 10% of gross salary
Meal allowance : 20% of gross salary
Medical : 10% of gross salary
PF - Maximum contibution is 780;
U can tell ur top management to include special allowances like uniform allowances, etc also coz the'l not b considered for tax.
Regards,
Anu
From India, Bangalore
Each company follows diffirent sructures. Anyway i'l give u the general format which we follow, its really tax saving.
Salary break up
Basic : 50% of gross salary
HRA : 40% of basic
CCA : 20 % of gross salary
Conveyance : 10% of gross salary
Meal allowance : 20% of gross salary
Medical : 10% of gross salary
PF - Maximum contibution is 780;
U can tell ur top management to include special allowances like uniform allowances, etc also coz the'l not b considered for tax.
Regards,
Anu
From India, Bangalore
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SALARY CAN BE SPLIT INTO COMPONENTS BUT NOT LESS THAN THE MINIMUM WAGES.docx