Dear Swastik Scales Industries,
The Salary structure differs from company to company based on their C & B policies.
Components in the salary would be -
- Basic - 35% - 50% of Gross
- HRA - 40% of Basic for Non metro & 50% of basic for Metro
- Conveyance allowance - Maximum of Rs. 800 per month which is Max of Rs. 9600 P A
- Medical Reim - Rs. 1250 / PM which can be of Rs 15000 PA
- Special Allow - Balance of Gross will be provided as Spl Allow
Emp Contribution - 12% on Basic
Emp'r Contribution - 13.61% on basic
ESI - Applicable if the employees Gross Salary is less than or equal to Rs.10000 "editted" mistyped, ESI limit is Rs. 15000.
Emp Contribution - 1.75% on Grorss
Emp'r Contribution - 4.75% on Gross
Professional Tax -
Varies from State to State
CTC = Gross + PF (Emp'r Cont) - ESI (Employer's Contribution)
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
Gratuity = Basic *15/26 - It is payable to the employee who completes 5yrs of service in the organisation. It can be showed as a part of CTC.
If Employees coming under high Salary, you can split the special allowance into the following - LTA, Food coupons (Sudexo), Petrol and car allowance etc.
The percentage of Variable Pay also differs from company to company based on the C & B Policy.
14th September 2012 From India, Visakhapatnam