Payroll, Wagw Fixation, Statutory Compliances,
Adding to d explanation given by Ranjith, Salary Structure design can be explained as follows;
Basic=50% of the salary in metro cities/40% of the same in non-metro cities
HRA=50% of the Basisc salary
DA/other allowances=dependa on company's policy(normally 10%)
ESI=1.75% of the Gross salary with ceiling Rs 10,000/- ( max 175 Rs/-)
EPF= 12% deduction on basic + DA(if applicable) with the ceilin Rs 6500/- (max 780 Rs/-)
Apart from these , various reimbursementments,encashments may be included as salary component.
Hope this will be sufficient for your understanding.
26th February 2011 From India, Kolkata
I have got an idea about salary structure bifurcation through your help
One more question........If I want to outsource these services (HR) from a consultancy. Is this a wise decision to recruit someone from that consultancy (on their payroll) at our office? So that, he/she could communicate between us and consultancy for all HR issues and administration...
I hope.........I have conveyed my query correctly.........cant say
26th February 2011 From India, Indore
I am a fresher and recently joined an organisation. I need to prepare a salary budget for
10 sales executive, 4 sales manager and 1 marketing manager.I have really no idea how to design this on
the basis of degree, experience and knowledge. please suggest me something.
19th June 2011 From India, Bangalore