Hi,
My concern is related to salary calculation. Can someone please help me out with the salary calculation formula, incentives, as well as reimbursement calculation. It will be helpful for me if every senior will elaborate on the above required calculations with an example.
Good day,
Karuna Kerni
From India, Delhi
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3My concern is related to salary calculation. Can someone please help me out with the salary calculation formula, incentives, as well as reimbursement calculation. It will be helpful for me if every senior will elaborate on the above required calculations with an example.
Good day,
Karuna Kerni
From India, Delhi
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Hi Karuna,
The components of a CTC vary from organization to organization. The most general format is attached herewith for your reference. This will give you an overview of how a salary is prepared.
Advisory Note: Don't panic so much; you have to have patience in receiving replies to your queries.
Regards,
Surabhi
From Germany, Frankfurt Am Main
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The components of a CTC vary from organization to organization. The most general format is attached herewith for your reference. This will give you an overview of how a salary is prepared.
Advisory Note: Don't panic so much; you have to have patience in receiving replies to your queries.
Regards,
Surabhi
From Germany, Frankfurt Am Main
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Hi Karuna,
Salary differs from company to company and state to state. For example, if you are in one particular state, there may be some specific percentage of deductions in terms of taxes, and at the same time, there may be a specific minimum salary for that particular sector in that state.
The basic components of any salary are as follows:
Total CTC (Cost to company), which includes:
1) Basic Salary
2) HRA 30-40% of basic salary
3) Allowances (Allowances could be of many types like traveling, leaves, food, education, medical, special, etc.) Again, it differs from company to company.
4) Fixed Incentives (if any)
5) PF
6) LTA
7) Others
Out of Total CTC, deductions may be as follows:
1) PF from employees' contribution
2) Loans
3) Taxes
4) Others
Total CTC = Gross Salary
Total CTC - Deductions = Net Salary
Regards,
Sree Kumar
UAE
From United Arab Emirates, Abu Dhabi
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Salary differs from company to company and state to state. For example, if you are in one particular state, there may be some specific percentage of deductions in terms of taxes, and at the same time, there may be a specific minimum salary for that particular sector in that state.
The basic components of any salary are as follows:
Total CTC (Cost to company), which includes:
1) Basic Salary
2) HRA 30-40% of basic salary
3) Allowances (Allowances could be of many types like traveling, leaves, food, education, medical, special, etc.) Again, it differs from company to company.
4) Fixed Incentives (if any)
5) PF
6) LTA
7) Others
Out of Total CTC, deductions may be as follows:
1) PF from employees' contribution
2) Loans
3) Taxes
4) Others
Total CTC = Gross Salary
Total CTC - Deductions = Net Salary
Regards,
Sree Kumar
UAE
From United Arab Emirates, Abu Dhabi
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SALARY SHEET CALCULATION.xls
Salary calculation.doc