What are the general components of salary in India?

eafil.hr · #31 24-04-2006, 04:37 PM

hi!

Dear all, am totaly confused regarding the compensation part of HR.. i found it to be very much complex to understand.. coz

- this vary for diff industry..
- this vary with MNC n
traditional company.

pls provide me with a clear picture..

warm regards,]
EAFIL

chinna32286 · #32 09-05-2006, 01:19 PM

hi i am chinna student of HR i would like to know what are the percentages of individual components in the salary please help me.

with regards.
chinna

janhave · #33 09-05-2006, 02:03 PM

I just wanted to know the limits of Uniform Maintenence and Professional Enrichment Allowance

Can you plaese email it to me on

Thanks

dasbhabesh · #34 03-11-2006, 06:15 PM

Hi,

Could any one clear my doubt, if Joining Bonus and Retainership Bonus are part of CTC.

If yes, then how?

nithya_vishi · #35 05-11-2006, 04:01 PM

Dear All,

Kindly, mention the proportionate percentage for arriving at basic salary from CTC. Our company adopts 35% of basic salary to arrive at HRA. What percentage of gross is basic ?

I need to arrive at the breakup for Rs. 540000 CTC

Please mention the break up for the same.

Your suggestions will be highly appreciated.

Thanks,
Nitu

salil_ptn · #36 10-11-2006, 03:01 PM

Hi,

In to-day's business environment, the business performance plays a vital role in very existence of the word "Employee" and based on this performance - the salaray components should be defined. In our establishment, this component plays a vital role. So, we pay 60% of pay package as variable and 40% as fixed. The Fixed component is distributed in Basic,DA,Special allowance,House Rent Allowance. The variable components are Performance Linked Pay(linked with production volume & monthly profitability) & Productivity Linked Pay(linked with production volume only.

I believe, this is the best possible combination of a manufacturing industry.

regards

srp

yajeethehr · #37 10-11-2006, 03:06 PM

I remember if the employee submits bills for the amount claimed against conveyance allowance (reimbursement), then the same can be claimed for tax deduction. Also, for lunch allowance, we can give food vouchers / food coupons to allow for tax deduction for that amount.

Regards,

Samba.

Quote:

Originally Posted by CHR

Basic Salary

Commissions/Incentives

Bonus

Dearness allowance

Child Education Allowance (better give as reimbursement to save tax)

Child Hostel Allowance (better give as reimbursement to save tax)

City Compensatory Allowance

Conveyance Allowance

House Rent Allowance

Leave Travel Allowance ( better give as reimbursement upto a maiximum of 15,000/- to save tax)

Lunch Allowance

Medical reimbursement to a maximium of 15,000/ (otherwise it will go in tax)

Newspaper allowance (better give as reimbursement to save tax)

Special Allowance

Gift voucher

Club membership (save tax)

salil_ptn · #38 10-11-2006, 04:07 PM

Dear all

We know that contribution of PF is applicable on leave encashment,leave availed by an employee during the tenure of his service. But what about the unavailed leave wages/salary paid to a separated employee on his final settlement ??

Please make me uderstand the logic and the rules under EPF & MP Act, if any.

regards

srp

phanihr · #39 11-11-2006, 02:30 AM

Hi,

Could you pls help in what is the max amout in thes components.

I hope good ending from your side.

Regards,
P.S.Phani.

salil_ptn · #40 11-11-2006, 01:04 PM

Hi !

The percentage is fixed. However, there is no limit for the right employee in the right position. As I spoke, Performance is the only yardstick- I mean both individual & corporate. For an exceptional performer sky is the limit.

Hope you understood my points.

Thnx