Hello Everybody,
I work for a garment export company in Mumbai.There are different grades and designations in our office which is not uniform across different departments. IS structuring required??
The salary structure followed here is what I believe is little weird esp the HRA part.The are diffrent slabs for HRA for different gardes even in management grades ( Its a metro,despite that ).
As far as My knowledge goes,usually The hra is 50% of ur basic in metros
or whatever rent u r actually paying minus 10% of basic.But none is followed.
As such the basicpay for employees for different cadres, as the grades keep moving down the ladder keeps drastically lowering and If u give 10% or 20% of basic as HRA.Is that justified or logical ?
Please provide ur valuable inputs ASAP.
Also as for leave encashment in case of earned leave.Is it considered a part of basic in terms of calculating Bonus for that financial year.
Please help me with ur inputs.
Waiting in anticipation
RSG
From India, Pune
I work for a garment export company in Mumbai.There are different grades and designations in our office which is not uniform across different departments. IS structuring required??
The salary structure followed here is what I believe is little weird esp the HRA part.The are diffrent slabs for HRA for different gardes even in management grades ( Its a metro,despite that ).
As far as My knowledge goes,usually The hra is 50% of ur basic in metros
or whatever rent u r actually paying minus 10% of basic.But none is followed.
As such the basicpay for employees for different cadres, as the grades keep moving down the ladder keeps drastically lowering and If u give 10% or 20% of basic as HRA.Is that justified or logical ?
Please provide ur valuable inputs ASAP.
Also as for leave encashment in case of earned leave.Is it considered a part of basic in terms of calculating Bonus for that financial year.
Please help me with ur inputs.
Waiting in anticipation
RSG
From India, Pune
Salary structure is a management decision.
there is no rule for the percentage of basic that should be paid as HRA.
the points mentioned by are the provisions of the income tax law that are normally followed as limits to make the package tax friendly.
You should take up the matter with the HR or the management of the Company.
From India, New Delhi
117there is no rule for the percentage of basic that should be paid as HRA.
the points mentioned by are the provisions of the income tax law that are normally followed as limits to make the package tax friendly.
You should take up the matter with the HR or the management of the Company.
From India, New Delhi
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