Hi We are a start up company,
We need to pay 2different employee 6lakhs and 5 lakhs respectively.
So what kind of salry components would benefit both company and employee.
Please help us in evaluating best salary component.
Thanks for help in advance.
From India, Hyderabad
We need to pay 2different employee 6lakhs and 5 lakhs respectively.
So what kind of salry components would benefit both company and employee.
Please help us in evaluating best salary component.
Thanks for help in advance.
From India, Hyderabad
3
increase the annual portion in the structure. e.g.
1. Include performance linked pay or incentive as major component of CTC, which will be payable after the year end.
3. Keep Basic at a high %age, so that Bonus, Gratuity, Leave encashment grab a major amount.
2. Pay Bonus on full basic (sometimes companies pay Bonus on max. statutory ceiling i.e. 3500/-)
3. provide for Gratuity
This way, the monthly payout will be reduced and major liability will be shifted to year end or thereafter.
Another way can be to hire at less CTC with interim hike commitment i.e. to hire at less salary but to increase after, say, 6 months based on the performance. However, this solely depends on the mutual understanding of the employer and employee.
From India, Gurgaon
1. Include performance linked pay or incentive as major component of CTC, which will be payable after the year end.
3. Keep Basic at a high %age, so that Bonus, Gratuity, Leave encashment grab a major amount.
2. Pay Bonus on full basic (sometimes companies pay Bonus on max. statutory ceiling i.e. 3500/-)
3. provide for Gratuity
This way, the monthly payout will be reduced and major liability will be shifted to year end or thereafter.
Another way can be to hire at less CTC with interim hike commitment i.e. to hire at less salary but to increase after, say, 6 months based on the performance. However, this solely depends on the mutual understanding of the employer and employee.
From India, Gurgaon
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