Hello Sir,
I have joined a company recently and they gave me a salary break up sheet in which they've mentioned Bonus deduction from CTC.
I am attaching herewith the file for your reference. can anybody let me know if the same deduction is mandatory? and can a company cut this kind of bonus without employee's wish?
Please reply.
Amee
From India, Ahmadabad
1I have joined a company recently and they gave me a salary break up sheet in which they've mentioned Bonus deduction from CTC.
I am attaching herewith the file for your reference. can anybody let me know if the same deduction is mandatory? and can a company cut this kind of bonus without employee's wish?
Please reply.
Amee
From India, Ahmadabad
As far as I can see there is no deduction for bonus but it has been shown as a part of CTC(Cost to Company) and Company can show this thing on your salary. It don't mean that they are deducting any thing from your salary it is just a way to show the packages
From India, Delhi
From India, Delhi
Dear Amee,
When you joined the company did you negotiate for "take-home salary"? If you are getting what you asked for then there should not be any problem in what company shows in the deductions. Secondly, is the salary break up as per break up given in your appointment letter?
You need to clarify this also.
DVD
From India, Bangalore
When you joined the company did you negotiate for "take-home salary"? If you are getting what you asked for then there should not be any problem in what company shows in the deductions. Secondly, is the salary break up as per break up given in your appointment letter?
You need to clarify this also.
DVD
From India, Bangalore
Hai Amee R U poisoning us. Take a calculator and see for yourself whether its deducted or added back to arrive at your annual CTC. For god's sake first get it clarified this in your office, spare us for concentrating on better matters.
Long live Amees.
kumar.s.
From India, Bangalore
Long live Amees.
kumar.s.
From India, Bangalore
Dear Sir,
Because Bonus included in CTC. They might have deleted to include in salary because you
will be getting Bonus once in a year along with other employees. Their action is correct.
D.Gurumurthy
HR/IR Consultant
From India, Hyderabad
Because Bonus included in CTC. They might have deleted to include in salary because you
will be getting Bonus once in a year along with other employees. Their action is correct.
D.Gurumurthy
HR/IR Consultant
From India, Hyderabad
Dear Mr.Amee,
Generally Bonus and Performance linked bonus is paid by companies without deducting from employee salary as per statuatory provisons.Hence your employer showed them as cost to company.
Whereas EPF 12% will be deducted from you salary[Basic + DA] as well as same amount of contribution should be paid by company.
Whereas ESI 1.75% will be deducted from your gross salary as well as 4.75% on your gross salary should be contributed by your employer.
You have to note that,your employer showed salary break up as CTC including that of Bonus ,PLB,ESI,PF which will be paid by company i.e total cost investing by company.
regards,
RK
From India, Khammam
Generally Bonus and Performance linked bonus is paid by companies without deducting from employee salary as per statuatory provisons.Hence your employer showed them as cost to company.
Whereas EPF 12% will be deducted from you salary[Basic + DA] as well as same amount of contribution should be paid by company.
Whereas ESI 1.75% will be deducted from your gross salary as well as 4.75% on your gross salary should be contributed by your employer.
You have to note that,your employer showed salary break up as CTC including that of Bonus ,PLB,ESI,PF which will be paid by company i.e total cost investing by company.
regards,
RK
From India, Khammam
Hi,
Bonus is the part of the salary/ctc, Some how askd what is PLD, It is not a part of CTC (It shall depend on your performance) if any Employee do not play good role any organisation we can't be pay. That is a profitable part of an organisation and attracted to CTC. Physiological the candidate strong his wages sheet.
Regards
Rajendra Prasad Pradhan
(Manager HR/Legal/IR)
PD HR Industrial Consultancy, Bhubaneswar
09438337075
From India, Bhubaneswar
Bonus is the part of the salary/ctc, Some how askd what is PLD, It is not a part of CTC (It shall depend on your performance) if any Employee do not play good role any organisation we can't be pay. That is a profitable part of an organisation and attracted to CTC. Physiological the candidate strong his wages sheet.
Regards
Rajendra Prasad Pradhan
(Manager HR/Legal/IR)
PD HR Industrial Consultancy, Bhubaneswar
09438337075
From India, Bhubaneswar
Hi,
If I will join a company in which my ctc would be 2,10,000. Wherein my CTC would be 70% fix and 30% variable.
I wanted to know bifercation of my ctc. Can you give me a roughly idea.
Thanks & Regards,
Satyendra Singh
From India, Kanpur
If I will join a company in which my ctc would be 2,10,000. Wherein my CTC would be 70% fix and 30% variable.
I wanted to know bifercation of my ctc. Can you give me a roughly idea.
Thanks & Regards,
Satyendra Singh
From India, Kanpur
Dear Sir,
CTC -17,500 [per month]
BASIC -7000
HRA -2800[AS PER METRO/NON METRO WORK PLACE]
Conveyance Allowance -800
Medical Allowance -1250
Education Allowance -0
Other Allowance -4697
Gross Salary -16547
Deductions
Provident Fund -840 [12% ON BASIC SALARY,IT MAY LIMITED FOR 6500 I.E 780/- AS PER your COMPANY]
E.S.I contribution -0 [ ONLY APPLICABLE BELOW gross salary RS.15000/- ]
Professional Tax -150
Other deductions (TDS & etc)- NA
Total -990
Estimated net salary/TAKE HOME SALARY- RS. 15557
Gross Salary per month -16547
Employer’s Provident Fund Contribution-953[INCLUDING COMPANY CONTRIBUTION &ADMIN. CHARGES 12%+1.61%]
E.S.I contribution -0
Cost to Company per month -17500
Cost to Company per year -210000
THIS MAY VARY FROM COMPANY TO COMPANY BY PROVIDING ANY ADDITIONAL ALLOWANCE AND AS PER STATUATORY DEDUCTIONS APPLICABLE.
Reagards,
RK
From India, Khammam
CTC -17,500 [per month]
BASIC -7000
HRA -2800[AS PER METRO/NON METRO WORK PLACE]
Conveyance Allowance -800
Medical Allowance -1250
Education Allowance -0
Other Allowance -4697
Gross Salary -16547
Deductions
Provident Fund -840 [12% ON BASIC SALARY,IT MAY LIMITED FOR 6500 I.E 780/- AS PER your COMPANY]
E.S.I contribution -0 [ ONLY APPLICABLE BELOW gross salary RS.15000/- ]
Professional Tax -150
Other deductions (TDS & etc)- NA
Total -990
Estimated net salary/TAKE HOME SALARY- RS. 15557
Gross Salary per month -16547
Employer’s Provident Fund Contribution-953[INCLUDING COMPANY CONTRIBUTION &ADMIN. CHARGES 12%+1.61%]
E.S.I contribution -0
Cost to Company per month -17500
Cost to Company per year -210000
THIS MAY VARY FROM COMPANY TO COMPANY BY PROVIDING ANY ADDITIONAL ALLOWANCE AND AS PER STATUATORY DEDUCTIONS APPLICABLE.
Reagards,
RK
From India, Khammam
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