Hi,
I have received an offer from a company in Bangalore. This company supplies candidates to major IT companies like IBM, HP, and Capgemini.
In the offer letter, they have mentioned the following:
"The remuneration payable to you would be on a Cost to Company basis, a sum of Rs 14,000/- (Rupees Fourteen Thousand Only) per month."
They also mentioned that I will be receiving 13k in hand per month, and the remaining 1k will be deducted for PT and ESI.
I am confused about this. Can anyone clarify the above details for me? Is this the correct way to make an offer? Also, shouldn't there be components like PF/HRA/DA included?
Please clarify at the earliest.
Regards,
From India, Madras
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I have received an offer from a company in Bangalore. This company supplies candidates to major IT companies like IBM, HP, and Capgemini.
In the offer letter, they have mentioned the following:
"The remuneration payable to you would be on a Cost to Company basis, a sum of Rs 14,000/- (Rupees Fourteen Thousand Only) per month."
They also mentioned that I will be receiving 13k in hand per month, and the remaining 1k will be deducted for PT and ESI.
I am confused about this. Can anyone clarify the above details for me? Is this the correct way to make an offer? Also, shouldn't there be components like PF/HRA/DA included?
Please clarify at the earliest.
Regards,
From India, Madras
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Hello Manivel,
Every company has its own way of issuing Offer Letters.
What finally matters - and ought to matter to the individual - are the details.
I presume you meant 'PF' (Provident Fund) when you mentioned 'PT'. The figure of 13 K is what you should be considering if you like the Offer and further, while doing your financial planning on a monthly basis. Out of the 1 K that they are deducting, the amount for the PF will come back to you later - IF they are actually remitting it into your PF account with the PF Commissioner. Please see other relevant threads in CiteHR to give you a clearer idea about this aspect. Every employer who deposits the individual amounts into the respective PF accounts gives the statement to the employee - this will act as proof that the employer has indeed deposited the amount deducted from your salary AND your PF account is active AND will also give you your PF account number clearly mentioned.
ESI is not something that comes back - that's a facility provided by the government for medical purposes.
I hope that clarifies your queries.
Regards,
TS
From India, Hyderabad
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1650Every company has its own way of issuing Offer Letters.
What finally matters - and ought to matter to the individual - are the details.
I presume you meant 'PF' (Provident Fund) when you mentioned 'PT'. The figure of 13 K is what you should be considering if you like the Offer and further, while doing your financial planning on a monthly basis. Out of the 1 K that they are deducting, the amount for the PF will come back to you later - IF they are actually remitting it into your PF account with the PF Commissioner. Please see other relevant threads in CiteHR to give you a clearer idea about this aspect. Every employer who deposits the individual amounts into the respective PF accounts gives the statement to the employee - this will act as proof that the employer has indeed deposited the amount deducted from your salary AND your PF account is active AND will also give you your PF account number clearly mentioned.
ESI is not something that comes back - that's a facility provided by the government for medical purposes.
I hope that clarifies your queries.
Regards,
TS
From India, Hyderabad
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Dear Manivel,
If the company is offering you 14000/-, there will be deductions for PF, ESI, and Professional Tax. Therefore, you need to determine your basic salary. For PF, the company considers your basic salary plus DA, and for ESI, it considers your gross salary. Regarding Professional Tax, it is Rs. 200/-; up to 10000, it is Rs. 175, and above 10000, it is a fixed Rs. 200/-.
I hope this clarifies your query.
Regards,
Ashok
From India, Kolhapur
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If the company is offering you 14000/-, there will be deductions for PF, ESI, and Professional Tax. Therefore, you need to determine your basic salary. For PF, the company considers your basic salary plus DA, and for ESI, it considers your gross salary. Regarding Professional Tax, it is Rs. 200/-; up to 10000, it is Rs. 175, and above 10000, it is a fixed Rs. 200/-.
I hope this clarifies your query.
Regards,
Ashok
From India, Kolhapur
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Hi, I have enclosed a simple Excel format about the CTC calculation. Just enter the CTC, and you will get the Gross Salary. The PF, ESI part, and other emoluments will be normally deducted before arriving at the Gross salary.
Regards,
Mathi
From India, Chennai
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Regards,
Mathi
From India, Chennai
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Hi,
Since it's a placement consultancy that you have received an offer from, there won't be a proper salary structure. Also, check if the company/consultancy provides you with the salary details (CTC breakdowns along with basic and maximum earning potential) along with the selection letter. If it is provided, then you can consider the offer.
Regards,
Tejaswini Acharya
From India, Bangalore
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Since it's a placement consultancy that you have received an offer from, there won't be a proper salary structure. Also, check if the company/consultancy provides you with the salary details (CTC breakdowns along with basic and maximum earning potential) along with the selection letter. If it is provided, then you can consider the offer.
Regards,
Tejaswini Acharya
From India, Bangalore
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SALARY SHEET CALCULATION.xls
Offer letter.pdf