Can you please suggest me a structure for eemployee earning 1- 2 lac per month. As this is a small organaization we dont want to have food coupon components also coz mazimum of the employee travel onsite.
My email id is
Thanks
From United States, Minneapolis
6My email id is
Thanks
From United States, Minneapolis
Could you please inform me how can performance based incentives be assessed for a sales profile. Let us assume it is paid every month. Your valuable feedback is requested
From India, Bangalore
From India, Bangalore
Dear Karteka,
According to my information Employers Provident fund contribution is same as employee contirbution i. e. 12% on basic salary.
Employers contributio is divided in two categories 3.67% PF contibution & 8.33% pension contribution.
Am I right or wrong???????????
From India, Mumbai
According to my information Employers Provident fund contribution is same as employee contirbution i. e. 12% on basic salary.
Employers contributio is divided in two categories 3.67% PF contibution & 8.33% pension contribution.
Am I right or wrong???????????
From India, Mumbai
hi what the diff b\w gross and basic .you have mentioned employer and employee in that case how to cal nly employee salary if salary is 7000 then how to calculate
From India, Hyderabad
From India, Hyderabad
Anila,
By this way I don't think you can get a solution which is useful in long term. You should discuss about the rules and regultions applicable with employee compensation.
I have done payroll for 4 companies and continueing in 5th and my experience says that this is a dynamic task and has to be done based on current situation like
For whome you are doing it i.e. lower level or higher level
what is your company policy for Gratuati,Leave etc e.g. gratuati should be part of CTC or not
How freindely your company is with IT Act for employee
Do your company incorege the other activity for employees which can be termed as employee benifits
What facilities company provides to its employee
And so on.........
In short you have to be very creative for this.
Nikesh
91-9871001868
From India, New Delhi
By this way I don't think you can get a solution which is useful in long term. You should discuss about the rules and regultions applicable with employee compensation.
I have done payroll for 4 companies and continueing in 5th and my experience says that this is a dynamic task and has to be done based on current situation like
For whome you are doing it i.e. lower level or higher level
what is your company policy for Gratuati,Leave etc e.g. gratuati should be part of CTC or not
How freindely your company is with IT Act for employee
Do your company incorege the other activity for employees which can be termed as employee benifits
What facilities company provides to its employee
And so on.........
In short you have to be very creative for this.
Nikesh
91-9871001868
From India, New Delhi
Usually gross salary includes basic, house rent allowance and other allowances. The basic is 60% of the gross and the house rent allowance is 50% of the basic. If your basic and HRA are linked with other benefit then you have to look at the total paid benefit such as end of service, pension, annual leave..etc
Other allowances covers transportation allowance, market allowance, travel leave assistant, petrol allowance.. etc. but to be in the save side always use the phrase of other allowance.
I hope the provided info will help you out, if you need any further clarification pls let me know.
From United Arab Emirates, Dubai
Other allowances covers transportation allowance, market allowance, travel leave assistant, petrol allowance.. etc. but to be in the save side always use the phrase of other allowance.
I hope the provided info will help you out, if you need any further clarification pls let me know.
From United Arab Emirates, Dubai
Hi Divakaruni,
First of all, there is nothing like uniform salary break up which can be applied to all the organization. It differs from company to company and even within the same company it can differ on the basis of position / scale as well.
Normally, In any salary structure there are components like Basic pay, DA, HRA, Conveyance, medical, LTA among others . Then percentage of HRA, DA can also differ. somwehere, its 50% of basic pay and somewhere its just 30% or 40%. Then, Medical and LTA should not exceed 1250/- p.m as this is the limit for tax exemption.
I suggest for the clarity, you talk to your HR head and see which kind of salary structure is already in place or which kind of break up suits your company objective and structure. Your salary break up should be competitive in view of the industry you operate in.
Hope it helps.
Nidhi
From India, Bangalore
First of all, there is nothing like uniform salary break up which can be applied to all the organization. It differs from company to company and even within the same company it can differ on the basis of position / scale as well.
Normally, In any salary structure there are components like Basic pay, DA, HRA, Conveyance, medical, LTA among others . Then percentage of HRA, DA can also differ. somwehere, its 50% of basic pay and somewhere its just 30% or 40%. Then, Medical and LTA should not exceed 1250/- p.m as this is the limit for tax exemption.
I suggest for the clarity, you talk to your HR head and see which kind of salary structure is already in place or which kind of break up suits your company objective and structure. Your salary break up should be competitive in view of the industry you operate in.
Hope it helps.
Nidhi
From India, Bangalore
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