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I am an Indian and working in Sweden for an year and my company has opened a branch in Chennai and we want to start our recruitment with Managing Director.
So please help me in deciding the Salary and other benefits we should give to MD in terms of money.
Thanks & Regards
Garima

From Sweden, Falun
Hi,
It is quite difficult to reply this query, because any compensation needs to be correlated with the profitability of the organization with the responsibilities. I suppose applying these two criterion you should be able to arrive at the exact figures. Moreover it varies from industry to industry.
The package can be around 20lacs/annum to 50lacs/annum.

From India, Rajkot
Thanks for the reply. We are into manufacturing industry and we want to give best remuneration for the candidate as per the market norms. But the figure you have mentioned is it included benefits also because i have heard that we have to give benefits also to MD like car, house etc..
Could you help me which benefits we can include in MD's Salary?:confused:

From Sweden, Falun
Hi,
I am providing you some information that I have gathered from this site itself from various contributors, hope that you will find them useful.
Yes, what I mentioned in my previous post is a package that includes everything. You can create breakup like this:
Salary Breakup
  • Annual Consolidated Salary (Basic+DA) =Approximately 40% of CTC
  • HRA = 50% of Consolidated Salary (For metro and lesser in case of other cities)
  • Incentives against target achievement
  • Conveyance
  • LTA
  • Some percentage in profit sharing paid annually
  • Car
  • Petrol
  • Car Maintenance
  • Driver
  • Club Membership
  • Insurance Premium
  • Provident Fund -12% from both the sides (12% Employee and 12%Employer)
I am also attaching a spreadsheet uploaded by someone having ID grhrm from Hyderabad that will also be useful to you.

From India, Rajkot

Attached Files
File Type: xls CTC CALCULATION SHEET.xls (18.0 KB, 4621 views)

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