Hello Friends,
I have just now joined this community. Have seen some real good HR topics being addressed. Now i too would like some help from you all...
I do not posses much knowlegde about Employee Relations or Wage & salary Administration.So would appreciate if you all guide me....
Thanks in advance!
cheers!!
Namita
From India, Mumbai
I have just now joined this community. Have seen some real good HR topics being addressed. Now i too would like some help from you all...
I do not posses much knowlegde about Employee Relations or Wage & salary Administration.So would appreciate if you all guide me....
Thanks in advance!
cheers!!
Namita
From India, Mumbai
41
Hi Amit,
I am actually gathering info about PF,ESIC Rules also whn computing salary structure what are the components that can be included & at wot %?
Also amit I would like to say that i saw some awesome contributions from u on HUMOUR.... n i must say I m completely bowled over by it..... njoyed them throughly!!!
From India, Mumbai
I am actually gathering info about PF,ESIC Rules also whn computing salary structure what are the components that can be included & at wot %?
Also amit I would like to say that i saw some awesome contributions from u on HUMOUR.... n i must say I m completely bowled over by it..... njoyed them throughly!!!
From India, Mumbai
Hi Namita..
Welcome.. And thanks for such a nice appreciation.. :D
The contents of the salary break up is as below, you can prepare it at the suitability of your own. HRA would be 50 or 60% of basic.
Basic
HRA
TA
Other Allowance
Mobile Reimbursement / Month
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.
Hope now it will be very much clear to you,
if you have any query feel free to ask.
Regards,
Amit Seth.
From India, Ahmadabad
Welcome.. And thanks for such a nice appreciation.. :D
The contents of the salary break up is as below, you can prepare it at the suitability of your own. HRA would be 50 or 60% of basic.
Basic
HRA
TA
Other Allowance
Mobile Reimbursement / Month
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.
Hope now it will be very much clear to you,
if you have any query feel free to ask.
Regards,
Amit Seth.
From India, Ahmadabad
Hi! Namita,
I am working as Labour Laws Consultant frm past 2 yrs and have to deal with all Wages / Salary related issue all the time as i do compliance of these act for them too, so you can ask me ant thng on payroll management ect, but u have to be specific wat u want to ask.
Abhinav.
From India, Delhi
I am working as Labour Laws Consultant frm past 2 yrs and have to deal with all Wages / Salary related issue all the time as i do compliance of these act for them too, so you can ask me ant thng on payroll management ect, but u have to be specific wat u want to ask.
Abhinav.
From India, Delhi
Thanks Abhinav,
Actually i was looking for information pertaing to:-
1. Slabs related to Professional tax
2. PF formalities also pF withdrawal formalities
3. Also computation of Income Tax for women employee having 1.92 lacs anual package
Looking forward to your guidence on the same.
Thanks
Namita
From India, Mumbai
Actually i was looking for information pertaing to:-
1. Slabs related to Professional tax
2. PF formalities also pF withdrawal formalities
3. Also computation of Income Tax for women employee having 1.92 lacs anual package
Looking forward to your guidence on the same.
Thanks
Namita
From India, Mumbai
Hi i m sunil i m very new into Payroll i dont at waht % salary calculate i dont have much knowledge of that so pls if any one can help me out plssssssssss help ???????????
From India, Bombay
From India, Bombay
Dear Amit,
Thank you very much for your nice presentation about the salary breakups. But I would like to suggest you a small correction which you mentioned in the ESCI portion which you mention the % its comes to employer contribution part. But in employee part it 1.75%. Also another small correction in ESCI ceiling it will extended up to Rs.15000/ month.
Thanks
Debdutta
From India, Calcutta
Thank you very much for your nice presentation about the salary breakups. But I would like to suggest you a small correction which you mentioned in the ESCI portion which you mention the % its comes to employer contribution part. But in employee part it 1.75%. Also another small correction in ESCI ceiling it will extended up to Rs.15000/ month.
Thanks
Debdutta
From India, Calcutta
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