Hi all,
I'm working as a HR of an IT company. I'm asked to rework on the salary structure, so that we could follow a standard pattern for all.
I would basically like to know-
1. different salary components.
2. If basic is fixed as 30% of salary, how will it effect the gratuity calculation.
3. Should bonus be a part of salary.
Please give me your suggestions, as i want to complete it at the earliest.
Thanks in advance.
Hrim.
From India, Bangalore
I'm working as a HR of an IT company. I'm asked to rework on the salary structure, so that we could follow a standard pattern for all.
I would basically like to know-
1. different salary components.
2. If basic is fixed as 30% of salary, how will it effect the gratuity calculation.
3. Should bonus be a part of salary.
Please give me your suggestions, as i want to complete it at the earliest.
Thanks in advance.
Hrim.
From India, Bangalore
Hi
The Salary structure varies company to company based on their Compensation & Benefits policy. Some of the basic Pay heads used in the Salary structure are
1) Basic - 35% - 50% of Gross
2) HRA - 40% of Basic for Non metro & 50% of basic for Metro
3) Con - Max Rs. 800/ P M which is Max of Rs. 9600 P A
4) Medical Reim - Max Rs. 1250 / PM which can be max of Rs 15000 PA
5) Spl Allow - Balance of Gross will be provided as Spl Allow
Statutory
1) PF
Emp Contribution - 12% on Basic
Emp'r Contribution - 13.61% on basic
2) ESI - Applicable to employees whose Gross Salary is less than or equal to Rs.15000
Emp Contribution - 1.75% on Gross
Emp'r Contribution - 4.75% on Gross
PT - It Varies State to state and it is calculated on the Gross salary of the employee
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
CTC = Gross + PF (Emp'r Cont) - ESI (Emp'r Cont)
Apart from this Gratuity, Statutory Bonus, LTA, performance bonus, etc., are also used as the part of salary structure
From India, Madras
8The Salary structure varies company to company based on their Compensation & Benefits policy. Some of the basic Pay heads used in the Salary structure are
1) Basic - 35% - 50% of Gross
2) HRA - 40% of Basic for Non metro & 50% of basic for Metro
3) Con - Max Rs. 800/ P M which is Max of Rs. 9600 P A
4) Medical Reim - Max Rs. 1250 / PM which can be max of Rs 15000 PA
5) Spl Allow - Balance of Gross will be provided as Spl Allow
Statutory
1) PF
Emp Contribution - 12% on Basic
Emp'r Contribution - 13.61% on basic
2) ESI - Applicable to employees whose Gross Salary is less than or equal to Rs.15000
Emp Contribution - 1.75% on Gross
Emp'r Contribution - 4.75% on Gross
PT - It Varies State to state and it is calculated on the Gross salary of the employee
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
CTC = Gross + PF (Emp'r Cont) - ESI (Emp'r Cont)
Apart from this Gratuity, Statutory Bonus, LTA, performance bonus, etc., are also used as the part of salary structure
From India, Madras
Keeping in mind the order of Provident Fund Appellate authority 2001, the suggested structure is as follows
For example\\ Any one whose gross salary is 10000/- per month
Minimum wages in delhi for this category is 7020/-
The suggested salary structure
80% of 7020 as basic
25% of basic as HRA
The balance amount can be put as Conveyance and Professional Allowance
This is balanced structure
regards , sushil kumar
From India, Bangalore
For example\\ Any one whose gross salary is 10000/- per month
Minimum wages in delhi for this category is 7020/-
The suggested salary structure
80% of 7020 as basic
25% of basic as HRA
The balance amount can be put as Conveyance and Professional Allowance
This is balanced structure
regards , sushil kumar
From India, Bangalore
Hi All,
My Name is Roshan Lal (H.R. Executive) from Bangalore,
i'm looking to change my job in Bangalore only, i hv good knowledge in payroll (more then 4 yrs experience),
If hv any opening please let me know.
Dear All pls Help me,,
my e-mail id is
From India, Bangalore
My Name is Roshan Lal (H.R. Executive) from Bangalore,
i'm looking to change my job in Bangalore only, i hv good knowledge in payroll (more then 4 yrs experience),
If hv any opening please let me know.
Dear All pls Help me,,
my e-mail id is
From India, Bangalore
EARNINGS
Basic Salary 50% of the gross
HRA 40% pf the Basic
Conv.Allow. Rs.800/- P.M.
Medical Allowance Rs.1250/- P.M.
Balance you can allocate to Spl.allowance
DEDUCTIONS
P.F. Employees contribution @ 12% on basic
E.S.I. Employees Contribution @ 1.75% on Gross
P.T. depends on slab and varies from state to state.
TDS on Salary
NET SALARY PAYABLE
Net Salary = Earnings (-) Deductios.
From India, Bangalore
Basic Salary 50% of the gross
HRA 40% pf the Basic
Conv.Allow. Rs.800/- P.M.
Medical Allowance Rs.1250/- P.M.
Balance you can allocate to Spl.allowance
DEDUCTIONS
P.F. Employees contribution @ 12% on basic
E.S.I. Employees Contribution @ 1.75% on Gross
P.T. depends on slab and varies from state to state.
TDS on Salary
NET SALARY PAYABLE
Net Salary = Earnings (-) Deductios.
From India, Bangalore
Hi ,
Recently i have joined as the management trainee for an IT company handling general HR activities.I am a fresher.I am totally new to this field.Information provided regarding salary break up was very useful thank you very much.
From India, Madras
Recently i have joined as the management trainee for an IT company handling general HR activities.I am a fresher.I am totally new to this field.Information provided regarding salary break up was very useful thank you very much.
From India, Madras
Hello all,
I am looking for a changee.
Kindly let me know if any vacancy is there for HR.. Presently I am working with the Management collage as a HR cum Admin Head and wanted to move in core HR.
Regards
From India, Delhi
I am looking for a changee.
Kindly let me know if any vacancy is there for HR.. Presently I am working with the Management collage as a HR cum Admin Head and wanted to move in core HR.
Regards
From India, Delhi
Hi Ayesha,
Gross= Baisc+DA+HRA+Conve+Others.
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
CTC = Gross + PF (Emp'r Cont) - ESI (Emp'r Cont)
Apart from this Medical Allow, Gratuity, Statutory Bonus, LTA, performance bonus, etc., are also used as the part of salary structure(CTC).
Best Regards,
Vishnu V Reddy
Sr. Executive-HR
From India, Hyderabad
Gross= Baisc+DA+HRA+Conve+Others.
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
CTC = Gross + PF (Emp'r Cont) - ESI (Emp'r Cont)
Apart from this Medical Allow, Gratuity, Statutory Bonus, LTA, performance bonus, etc., are also used as the part of salary structure(CTC).
Best Regards,
Vishnu V Reddy
Sr. Executive-HR
From India, Hyderabad
Hi,
Gross= Baisc+DA+HRA+Conve+Others.
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
CTC = Gross + PF (Emp'r Cont) - ESI (Emp'r Cont)
Apart from this Medical Allow, Gratuity, Statutory Bonus, LTA, performance bonus, etc., are also used as the part of salary structure(CTC).
Best Regards,
Vishnu V Reddy
Sr. Executive-HR[/QUOTE]
From India, Hyderabad
Gross= Baisc+DA+HRA+Conve+Others.
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
CTC = Gross + PF (Emp'r Cont) - ESI (Emp'r Cont)
Apart from this Medical Allow, Gratuity, Statutory Bonus, LTA, performance bonus, etc., are also used as the part of salary structure(CTC).
Best Regards,
Vishnu V Reddy
Sr. Executive-HR[/QUOTE]
From India, Hyderabad
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