Salary structure for Private limited company - asst manager
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Salary structure for Private limited company

chellammal Started The Discussion:

Dear sir i wish to know the salary structure for private limited company and what are all the leaves we can avail per year. Thanks & Regards Chellammal

Amitmhrm - Contributing Member
Hi Chellamal..

Find below the salary structure mostly prevailing in the current time in the Industries..

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
MobileReimbursement / Month
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

EX-Gratia/Bonus = A fixed amount asBonus

Annual Fixed GrossCost= 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,

Regarding Leaves it is around 32 leaves in a year apart from Maternity leaves.. These 32 leaves mainly divided into 3 categories-
1. Earned or Paid Leaves - 16 days
2. Casual Leaves - 8
3. Sick Leaves - 8.

Paid leaves can be carried forward to the next year as well whereas the same is not allowed with other types.

Regards,

Amit Seth.

Hi!!

We are FMCG company with a turnover of more than 200 crores with an all india presence. We would like to work out a tax friendly salary structure for our Employees (Asst Manager and above) respecting the law of the land.

I request all my fellow professional to contribute their inputs on the above- like various head, limits, procedures, documents required etc.

I will consolidate this and send to everyone.

Request your response please.

Regards,

take care

Amitmhrm - Contributing Member
Hi vasudevan,

The structure that i have mentioned above has some contents which are exempted from Tax.. like HRA and TA of rupees 800 is exempted from tax.
Apart from this medical reimbursement of rupees 1250 per month is also exempted from the taxes.. But for this you need a medical bill from each of them separately..

Regards,

Amit Seth.

gayathri.suraparaju - Contributing Member
Hi

I think I can help you with the Leaves data. You can Bifurcate the Leaves into Two major divisions :

CL - Casual Leave(Sick,Emergencies,Casual) - 12
PL - Planned Leaves(Marriage, any planned events) - 10

Every CL per month which May or May not be used can't be taken forward to
Next month . The CL which is Lapsed will be not encashed after completion of Year (Dec 31st), However PL will be encashed after successful completion of year or will be added to the coming year leaves Kitty .

Let me know how do u feel the same [/b]

ajayp1983 - Contributing Member
Dear Amit,

I really needs your help.

I am working in a Private Limted Software firm in Mumbai. Incorporation 1.10.07. They offered Me a Salary by deducting a Professional tax. They are not giving any other facility. even when i absent they deduct it from Salary. As i am the Senior employee of old company and they have merged it to form new one.

when ever i want to talk about the increment and other facility, they say are working on last 8 Month.

Please give me Mandatory Salary Structure for Private limited Software firm.

Regards

Ajay

i am not receiving any other facilities

gmdave84@gmail.com - Contributing Member
hi,

I am working with newly formed IT company which is Pvt ltd.around 20 employees are wworking and there total salary ranges between 8000 to 22000 plus 7.5 % conveyance allowance.

Please let me know what will be salary structure for them.

Thanks,
GrishmA

sn81 - 
Dear Amit, Would know that mediclaim facility compulsory to employee which are not covered under ESIC. Neeraj

pillai04 - 
Hi.
I am working with a Private . Ltd company as P.R.O. Sir actually i wnt to know that basically how much C & pL is allowable in a year. please send me the details about it.

Best regards

Pradeep pillai:)

daniel.issac1980 - Contributing Member
Hi Pradeep. It varies from company to company,, Some companies diveds whole leaves into CL,PL. Some companieswhole of 24 leaves

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