Not sure which covering letter you want, but assuming it is a compensation review letter, forwarding a basic draft, which of course will have to be modified:-)
xxxxx, xxxx(date) ADDRESSEE ONLY
Emp. No. «Emp_No»
I am pleased to advise you that your Fixed Compensation Cost (FCC) has been revised from Rs. «Old_FCC»/- to Rs. «New_FCC»/- p.a. with effect from xxxx. This results in an increase of «increase»% over your current FCC.
Your revised Total Cost to Company (TCC) is Rs. «TCC»/- p.a. as detailed below:
Basic (35% of FCC) Rs.«Basic»/-
Flexible Compensation Plans (FCP) Rs.«xxxx»/-
Company Car Rs.«car allow»/-
Variable Pay(xxxxx) Rs.«Varble_Pay»/-
Total Cost to Company (TCC) Rs.«TCC»/-
The options and entitlements under the FCP are being revised and will be notified in a separate announcement.
The increase in TCC has taken into account market scenario and individual performance and contribution.
All matters related to your compensation are strictly confidential between you and the company and should be treated as such.
All other terms of employment will remain unchanged.
Following format of restuctured compensation may help you:
First Name Last Name
Emp Code: xxxxxx
Dear First Name,
Sub : Revision in Compensation and Benefits
We have recently concluded a comprehensive compensation survey in which we studied the trends across industries. Based on the findings of the survey we have made changes in our compensation to make it more competitive. Accordingly, the management is pleased to announce your salary revision effective <date> as under:
Your Basic Salary is being revised from Rs. ……………/- per annum to Rs. ………………./- per annum.
Your detailed compensation perksheet is enclosed.
Your personal contribution is important to achieving <company's name> current and future goals. We look forward to your continued support in the future as well.
For <company name>
Encl: Revised Compensation & Benefits
Kindly click on the following link, it will give you some required information,
Pls let me know was this information useful,,
If not let me try out more & give information,,,,
In CiteHR you will get A to Z information on HR…..
M.Peer Mohamed Sardhar
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Topic Categories >> compensation survey salary revision basic salary letter format cover letter compensation and benefits Location-India-Bangalore