rima mitra
1

Hi All,
Very recently i have joined in a small financial organization as an HR- Admin with an employee strength of 18. HR role is new to me. The present salary structure is furnished below,
Basic
HRA
Conveyance
Other Allowance
Professional Tax
My boss wants a better structure. So plz friends and seniors help me. I want speedy replies as i need to submit it by today only.
Thanks and regards,
Rima Mitra
HR-Admin

033-22831835

From India, Calcutta
kulkarnimadhuri04
10

Dear Rima, Every company has their own rules and regulation. Just like this salary structure is also different as per company.
From India, Pune
KSGopal
9

Dear Rima,

Please try this:

(A) FIXED PAY (Includes Basic, HRA, Conveyance, Special Allowance, & benefits like Medical, LTA, Uniform Allowance, Telephone allowance etc). This may be up to 70% of the CTC. (CTC is the total sum of salary, allowances and benefits agreed to an employee at the time of appointment).

(B) VARIABLE PAY: 30% of CTC (Includes Performance Incentive/Bonus; Food Coupons; Gratuity etc.)

Fixed pay is payable on monthly basis. Out of the fixed pay components, except Basic salary, tax rebate is applicable if these are made as reimbursement as per limit fixed under IT Rules. You may refer to the IT Act/ Rules.

Again you may bifurcate the CTC as under:

Basic salary = 40 /50% of the CTC

HRA @ 40% of the Basic

Conveyance = 800 p.m.

Special Allowance =CTC-(Basic+HRA+Conv+Medical+LTA+Uni.All+Tel All+V.P)

Medical = 1250 p.m.

LTA = 10% of Basic p.m

Uniform Allow = 2500 p.m. (Max)

Telephone Allow = 1000 p.m. (max)

Variable Pay = 30% of CTC

The above structure may be relevant in senior position / or those who draws a CTC of 5.00 lacs and above. For others, you may fix Basic, HRA, Conv. & Special Allow + certain portion of CTC as Variable Pay.

In certain organization, PF - Employer contribution (12% of Basic) is treated as part of CTC. Again certain orgn only pays 780 towards employer contribution (pl refer to PF rules). Gratuity equivalent to 4.81% of Basic is also considered as part of CTC.

While fixing the salary structure, one needs to refer to the statutory compliance part + I.T. rules.

Hope, the above clarifies your query.

From India, Jaipur
smbhappy
51

Dear Rima,
First decide if your company will increase the salary according to new structure or will have to be managed within the overall budget set out for pay and allowances.
Please work out from the accounts as to how much is paid to the staff (Including bosses) on account of Salary (Gross - including allowances like CCA, HRA, DA, others), Employer contribution towards EPE & ESI, Food, OT, Conveyance, Telephone, Liveries, LTA, Health care, Refreshments, Taxes (paid on behalf of employees), and all other such allowances. Add some percentage for unforeseen expenses.
Sum them up and work out the annual expenditure on all these. Thereafter you know how much to incur.
Make attractive CTC (Cost to company) Packages. Please ensure the Carry Home Salary may not come down from the present level.

From India, Chandigarh
vinod.b
Dear Rema, sending the new salary structure. pls try this.
From India, Mumbai
Attached Files (Download Requires Membership)
File Type: xls Salary structure.xls (20.5 KB, 754 views)

Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.