hi, i would like to know that what is the best salry st. for employees. Rgds rupa
From India, New Delhi
From India, New Delhi
The salary structure I know best is to show a fixed percentage of CTC as basic salary & rest under choice pay so that the employee can save taxes by way of showing proper documents/ bills to payroll dept.
From India, Mumbai
4From India, Mumbai
Hi
U can include allowances like uniform reimbursement, research allowance etc in the salary structure as these are exempted from taxable income. Also choose the best suitable clause out of the clauses for HRA to be tax free so that employee can have the max tax exemption from his CTC.
Regards
Neha
From India, Chandigarh
U can include allowances like uniform reimbursement, research allowance etc in the salary structure as these are exempted from taxable income. Also choose the best suitable clause out of the clauses for HRA to be tax free so that employee can have the max tax exemption from his CTC.
Regards
Neha
From India, Chandigarh
I Agree with Neha.
But query what I'm having is whether we need to fix a basic salary first & rest of the amount be kept under choice pay for the employee?
What is the Maximum/ Minimum amount can be adjusted as basic salary out of CTC, so that employee can have maximum benefit?
Regards,
Shankar
From India, Mumbai
But query what I'm having is whether we need to fix a basic salary first & rest of the amount be kept under choice pay for the employee?
What is the Maximum/ Minimum amount can be adjusted as basic salary out of CTC, so that employee can have maximum benefit?
Regards,
Shankar
From India, Mumbai
Hi
What most of the companies are following these days is they fix a basic salary i.e anywhere between 35% - 50 % of the gross and then they fix HRA depending on the city type to 40% or 50%of basic whichever is applicable in their city and then the rest of the allowance mention in my earlier post and the remaining amount they put either as Other allowances or special allowancwes head.
Hope this answers your query.
Neha :)
From India, Chandigarh
What most of the companies are following these days is they fix a basic salary i.e anywhere between 35% - 50 % of the gross and then they fix HRA depending on the city type to 40% or 50%of basic whichever is applicable in their city and then the rest of the allowance mention in my earlier post and the remaining amount they put either as Other allowances or special allowancwes head.
Hope this answers your query.
Neha :)
From India, Chandigarh
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Creating a Competitive Salary Structure.doc
Salary Structure.zip