Hai all i want to know the best salary structure or a salary bifurcation for manufacturing Pvt. Ltd. company. Please help me. Thanks and Regards, Charu Gupta
From India, Delhi
From India, Delhi
Hi Charu,
The components of the salary break up may be as below, you can prepare it at the suitability of your own. HRA would be 40 or 50% of basic.
Basic
HRA 40 - 50% is exempted from Taxes, depends on class of city
CCA - 825/- is exempted from tax
Other Allowance
Mobile Reimbursement
Medical Reimbursement of 1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Apart from this Food coupons, Holiday package and Furnishing items are included in their CTC.
Hope it must helped you to clear your queries up to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
496The components of the salary break up may be as below, you can prepare it at the suitability of your own. HRA would be 40 or 50% of basic.
Basic
HRA 40 - 50% is exempted from Taxes, depends on class of city
CCA - 825/- is exempted from tax
Other Allowance
Mobile Reimbursement
Medical Reimbursement of 1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Apart from this Food coupons, Holiday package and Furnishing items are included in their CTC.
Hope it must helped you to clear your queries up to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
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Salary bifurcation.xls
Salary-Note.doc