Basic is fixed on the basis of (1) Minimum wages (2) Minimum it should be on average 40% of Gross (3) It depends upon company policy mostly companies with fair practice have grade wise structure , if not it can be fixed on the bsis of negotiation in case of fresh appoinment (4) Basic should enevr less than prevalent minimum wages
P K MISHRA
From India
25P K MISHRA
From India
Hi, If any body knows about the full salary calculation part. Kindly give me the excel sheet
From India, Hyderabad
From India, Hyderabad
Dear
IT IS EASY
PART A = GROSS SALARY
PART A + PART B = COST TO THE COMPANY WHERE IN EMPLOYEE GROSS SALARY COMPANY WILL CONTRIBUTE SO GROSS SALARY + EMPLOYER CONTRIBUTION = CTC
AND PART A - PART C = EMPLOYEE TAKE HOME SALARY WHERE EMPLOYEE HAS TO CONTRIBUTE FOR PF AND ESIC, SO OUT OF HIS GROSS SALARY PF AND ESIC IS DEDUCTED.
MITESH MAKWANA
H.R.
9723511033
From India, Mumbai
IT IS EASY
PART A = GROSS SALARY
PART A + PART B = COST TO THE COMPANY WHERE IN EMPLOYEE GROSS SALARY COMPANY WILL CONTRIBUTE SO GROSS SALARY + EMPLOYER CONTRIBUTION = CTC
AND PART A - PART C = EMPLOYEE TAKE HOME SALARY WHERE EMPLOYEE HAS TO CONTRIBUTE FOR PF AND ESIC, SO OUT OF HIS GROSS SALARY PF AND ESIC IS DEDUCTED.
MITESH MAKWANA
H.R.
9723511033
From India, Mumbai
Dear
IT IS EASY
PART A = GROSS SALARY
PART A + PART B = COST TO THE COMPANY WHERE IN EMPLOYEE GROSS SALARY COMPANY WILL CONTRIBUTE SO GROSS SALARY + EMPLOYER CONTRIBUTION = CTC
AND PART A - PART C = EMPLOYEE TAKE HOME SALARY WHERE EMPLOYEE HAS TO CONTRIBUTE FOR PF AND ESIC, SO OUT OF HIS GROSS SALARY PF AND ESIC IS DEDUCTED.
MITESH MAKWANA
H.R.
9723511033
From India, Mumbai
IT IS EASY
PART A = GROSS SALARY
PART A + PART B = COST TO THE COMPANY WHERE IN EMPLOYEE GROSS SALARY COMPANY WILL CONTRIBUTE SO GROSS SALARY + EMPLOYER CONTRIBUTION = CTC
AND PART A - PART C = EMPLOYEE TAKE HOME SALARY WHERE EMPLOYEE HAS TO CONTRIBUTE FOR PF AND ESIC, SO OUT OF HIS GROSS SALARY PF AND ESIC IS DEDUCTED.
MITESH MAKWANA
H.R.
9723511033
From India, Mumbai
Salary Break is:
Part A: Basic+HRA+LTA+Other Allowance+Medical+Other Components
Part B: PF(Employer Contribution)+ESIC (Employer Contribution)
PARTC: Part C: PF(Employee Contribution @ 12%)+ESIC (Employee Contribution @ 1.75%)+TDS+Professional Tax+Group Insurace+Other Componants
PART A IS ONLY GROSS SALARY
PART A + PART B = CTC
AND PART A - PART C = EMPLOYEE TAKE HOME SALARY
FURTHER FOR PF CONTRIBUTION FROM EMPLOYER SIDE IS 13.61% AND ESIC IS 4.75%
Regrads,
MITESH MAKWANA
From India, Mumbai
Part A: Basic+HRA+LTA+Other Allowance+Medical+Other Components
Part B: PF(Employer Contribution)+ESIC (Employer Contribution)
PARTC: Part C: PF(Employee Contribution @ 12%)+ESIC (Employee Contribution @ 1.75%)+TDS+Professional Tax+Group Insurace+Other Componants
PART A IS ONLY GROSS SALARY
PART A + PART B = CTC
AND PART A - PART C = EMPLOYEE TAKE HOME SALARY
FURTHER FOR PF CONTRIBUTION FROM EMPLOYER SIDE IS 13.61% AND ESIC IS 4.75%
Regrads,
MITESH MAKWANA
From India, Mumbai
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PF query.doc
Everything PF Related.pdf