Hello,
I am going to join a mnc and getting 50% hike in new company. But when i saw my salary breakup I found that my Basic Salary got deducted compare to last comp basic salary but I am getting 13000 Special Allowance per month, can u please help me to understand what's that will i get that on monthly basis or will there be any deduction? What does SPECIAL ALLOWANCE means? My monthly salary breakup includes the below:
Basic salary
HRA
CA
Special Allowance
Medical
Bonus
Please help me out..
From India, Bangalore
I am going to join a mnc and getting 50% hike in new company. But when i saw my salary breakup I found that my Basic Salary got deducted compare to last comp basic salary but I am getting 13000 Special Allowance per month, can u please help me to understand what's that will i get that on monthly basis or will there be any deduction? What does SPECIAL ALLOWANCE means? My monthly salary breakup includes the below:
Basic salary
HRA
CA
Special Allowance
Medical
Bonus
Please help me out..
From India, Bangalore
Hi Nothing to worry about the special allowance. even that is part of the wages. Just to adjust the wages for CTC the special allowance is been introduced.
From India, Bangalore
633From India, Bangalore
No need to worry much about Special Allowance, as 99% of Private Companies do negotiation interms of CTC. Special Allowance is just another component in your salary. Whenever you get hike in CTC, chances are there to further increase this particular component
This is different from Variable Pay (which is payable once in a quarter or may be monthly subject to some parameters like target achievement, performance rating etc.)
Also it has been observed that companies try to lower Basic, to reduce the impact on total cost per employee, as in India most of the social security aspects are based at Basic. In addition to this, Notice Pay and Earned Leave Encashment are usually entitled @Basic
From India, Bangalore
This is different from Variable Pay (which is payable once in a quarter or may be monthly subject to some parameters like target achievement, performance rating etc.)
Also it has been observed that companies try to lower Basic, to reduce the impact on total cost per employee, as in India most of the social security aspects are based at Basic. In addition to this, Notice Pay and Earned Leave Encashment are usually entitled @Basic
From India, Bangalore
Hello ARS,
The salary attributes like Basic, HRA, Transport Allowance, Medical Reimbursement, LTA, Perquisites, etc have a fixed upper limit based the statutory limitations and on the individuals salary as well. Mostly the salary break up in many organizations would be CTC - Other attributes (Basic, HRA, Transport Allowance, Medical Reimbursement, LTA, Perquisites, Vehicle Repair, Books & Periodicals, Gratuity, Employer PF, etc) will give you the Special Allowance.
In short CTC - All other attributes in the CTC = Special Allowance.
From India, Bangalore
The salary attributes like Basic, HRA, Transport Allowance, Medical Reimbursement, LTA, Perquisites, etc have a fixed upper limit based the statutory limitations and on the individuals salary as well. Mostly the salary break up in many organizations would be CTC - Other attributes (Basic, HRA, Transport Allowance, Medical Reimbursement, LTA, Perquisites, Vehicle Repair, Books & Periodicals, Gratuity, Employer PF, etc) will give you the Special Allowance.
In short CTC - All other attributes in the CTC = Special Allowance.
From India, Bangalore
Components of Salary Structure Basic : 30% of CTC HRA: 40% of Basic Conveyance: 800 Medical: 1250 Special Allowance:(Balancing figure)
From India, Bangalore
From India, Bangalore
Hi,
Special Allowance is a balancing figure to make salary structure balanced. Most of the companies have their standards to keep basic of total gross salary. Other components like HRA depends on basic, medical is fixed max 1250 (tax perse), TA (800) etc.
To balance all these components special allowance is introduced.
However it is a taxable components.
Regards
Haider
From Saudi Arabia, Riyadh
Special Allowance is a balancing figure to make salary structure balanced. Most of the companies have their standards to keep basic of total gross salary. Other components like HRA depends on basic, medical is fixed max 1250 (tax perse), TA (800) etc.
To balance all these components special allowance is introduced.
However it is a taxable components.
Regards
Haider
From Saudi Arabia, Riyadh
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