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22-10-2009, 08:24 PM
| | | | % Basic aganist Gross Salary Hi All,
Need your assistance in this regards, can you please let me know if it is mandatory to allocate 40% of Gross Salary towards Basic or is it that the company can decide on this and it can be flexible.
Regards
Sashank B. | |
22-10-2009, 08:38 PM
| | | | Join Date: Dec 2008 Location: Hyderabad |
| | Dear Sashank,
it is not necessary to keep 40% as basic on gross salary but the basic may vary from company to company but we need to keep minimum 35% as basic | |
22-10-2009, 09:02 PM
| | | | Join Date: Oct 2009 Location: Kolkata |
| | I agree with Mr. Sivakumar. Its depends on the company. For example an employee of future group is getting 12k as gross whereas his basic is less than 3k. And an emp of IBM is getting 25k and his basic is near about 11k.I hope this attachment will give some idea of basic and gross
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22-10-2009, 09:29 PM
| | | | Thanks for sharing the information. | |
22-10-2009, 10:13 PM
| | | | Join Date: Feb 2007 Location: NCR |
| | Dear Shashank,
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 = between 40 - 60% of Gross
HRA = 40 or 50 % of Basic salary
TA
Other Allowance
Gross Per Month = Sum of all the above.
GrossPer Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESIContribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximumceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
Annual Total Cost = Gross Per annum + 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. | |
23-10-2009, 12:01 PM
| | | | Join Date: Aug 2009 Location: Coimbatore |
| | Salary Break-up It's clear & to the point!
Suggest me whether medclaim is profitable to the employee & employer.
Thanks!
C.Nandhakumar Quote:
Originally Posted by Amitmhrm  Dear Shashank,
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 = between 40 - 60% of Gross
HRA = 40 or 50 % of Basic salary
TA
Other Allowance
Gross Per Month = Sum of all the above.
GrossPer Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESIContribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximumceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
Annual Total Cost = Gross Per annum + 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. | | |
23-10-2009, 03:19 PM
| | | | Join Date: Feb 2007 Location: NCR |
| | Thanks Nandu..
Obviously it is profitable to the employee as well as employer.. As employee gets benefited with free cashless medical assistance and employer also feels some relaxation in terms of Medical benefit of the staffs.
Regards,
Amit Seth. | |
23-10-2009, 05:31 PM
| | | | hi
limitation of deducting professional tax | |
23-10-2009, 05:32 PM
| | | | hi
how much above limitation | |
23-10-2009, 05:41 PM
| | | | Join Date: Jul 2009 Location: Malad |
| | dear S
Basic pay is generally fixed based on the minimum amount required for a person to live. For those engaged in Government jobs even if the govt.has financial disability to pay the entire salary Govt. is bound to pay the basic salary to its employees. Therefore having more basic salary is advantageous to employees. Based on the basic salary other components of the salary is considered. But now a days basic salary has no meaning , it differs from place to place. There is no any definet base followed to fix basic salary presently.
thanks nd regards
madhwa |
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