How to make a salary structure? - minimum wages Xls Download
CiteHR
 
HOME ANSWERED NEW ABOUT LOGIN
Home > Human Resource Section > Employee Compensation & Benefits

How To Make A Salary Structure? - Minimum Wages

lovermickey Started The Discussion:

Hello everyone,i am a student in university. Now,we are doing a project and imitating a company,I am reponsible for the HR department,and now i need to make a salry structure.
I don't know how to do it firstly? what's the main point?
Could you give me some ideas or examples?

Thanks

key points in making salary structure:- 1. Basic Salary 2. HRA 3. DA 4. LTA 5 PF 6 Medical

mani.ragi - Contributing Member
First to create a salary , have to know about salary.

Salary -- is the amount which is paid to an employee for his service.
Govt has made few rules on salary . Like Min. Wages Act,etc.
Few Components in Salary.

Earnings:
Basic --Min amount paid to an employee .
DA(Dearness Allowance)-allowance paid to employee with basic.
HRA(House Rent Allowance)-which is given as allowance.
Medical Allowance-
LTA(Leave Travel Allowance)-
Conveyance--
Employer PF-Which is an indirect monthly payment to employee credited to his PF account for his future benifits(not a part of salary as per PF act)
CEA(Children Educational Allowance)

These are few things which are in salary earnings.

In Deductions
PF(Provident Fund)-12% on basic
PT( Professional Tax as per state)
ESI(Employee state Insurance)

Hope this will hep you.

Regards

Thanks for your answers. I am study in Holland,i don’t know the salary rang in Europe. how many elements should calculate in it? and how to reduce the tax?

Dear,

for reducing the tax, you need to refer to your country Labor Law, or any other regulation implemented in Europe, I think for the size & sector of the business define the salary ranges, in average for London ranges it's from $ 9,000 - $ 70,000 for SME, taking into consideration the number of grades and the overlapping when designing your structure.
for further information kindly contact me on my email: -
Eng. Muhammad Abuissa

To create a salary structure you need first to define salary grade then destripute basic salary to those grades

let say your grades are ( 1, 2, 3,....10)

Then The basic salary is to be Overlapped ( which is the best practice in grading system)

Grade 1 = Basic 1000 $ to 2500$
Grade 2 = Basic 2300& to 3500$
Grade 3 = Basic 3200$ to 5000$
etc.....

The from to will set for you three points of the salary; Minimum, Mid, & Maximum.

Thanks...

Dear All, Plz. find attached Salary Structure format. This structure verys Grade to Grade (from G1, G2, ...........G10)


Attached FilesProvided by community member Bhagwat Kadam. Join us to learn and grow with your peers.
File Type: xls OFFER LETTER.xls (179.5 KB, 2406 views)
gamefish42 - 
I have attached a Wage Breakdown Structure (WBS) I created. After the different wage classifications have been created, one only needs to match a wage classification to each position on the organizational chart. The next step after that is to calculate the total wage and benifit package for each employee using the wage classification from the WBS. Bhagwat Kadam attached a spreadsheet that shows the wages and benefits for many employees. Because you are in Holland, you will have to resarch to find the typical benefit packages being offered in your country.


Attached FilesProvided by community member gamefish42. Join us to learn and grow with your peers.
File Type: xls Wage Breakdown Structure.xls (87.0 KB, 2581 views)
Hi All,
I need to devise a compensation package where the CTC is 10,00,000 to optimize tax savings. Kindly help me with it showing a detailed break up and reason how it helps in tax savings....

Thanks,
Atul Saboo

tatatluong - 
At first , you need to set up and define salary grade ,then set up minimun Basic salary for each grade . Off course , you must refer to the labour law and labour market .
Attached file for your reference definition of position and grade2007 a.xls

Hope this will help you
TTLUONG:-D


Found This Useful? +Vote Up This Page Via Google.  

Why Vote? User validation is extremely important for good content to prosper.



Disclaimer: This network and the advice provided in good faith by our members only facilitates as a direction towards the actions necessary. The advice should be validated by proper consultation with a certified professional. The network or the members providing advice cannot be held liable for any consequences, under any circumstances.
COMMUNITY SPONSORS


Explore Topical Knowledge Areas

Interesting Relevant Discussions


DISCUSSSION STATISTICS


8
LIKES

8946
VIEWS

14
REPLIES

PLEASE KEEP YOUR CONDUCT PROFESSIONAL AND POLITE


3M Users, 100K+ Documents & 450K+ Discussions

Share »

Community Support & Professional Insights. Login & Explore or Register.
Email/Username     Password  

About Us - Advertise - Contact Us - RSS   On Google+  
All trademarks and copyrights held by respective owners. Member comments are owned by the poster.
Privacy Policy | Disclaimer | Terms Of Service
Facebook Page | Follow Us On Twitter | Linkedin Network