Dear All,
I am working as a HR Associate in an Manufacturing company.
My Senior told me to design a salary Structure of CTC : 2 Lac.
Can anyone provide me the Salary Structure regarding the same.
Thanks in advance.
Puja Rani
From India, Delhi
3I am working as a HR Associate in an Manufacturing company.
My Senior told me to design a salary Structure of CTC : 2 Lac.
Can anyone provide me the Salary Structure regarding the same.
Thanks in advance.
Puja Rani
From India, Delhi
Hi
First of all i would like to understand few points to your question put across
- What will be the base to design the Salary Structure
- Do you have any limitations wrt to the design
- How big is your organization
- Is your organization trying to come up with new structure and you are given the assignment?
- Is this a test to assess your competence?
Below is the Salary Structure based on my experience which has been in place and from IT as the industry segment
Salary Components
Basic
HRA
Conveyance
Medical
Child Education Allowance
Special Allowance
LTA
Variable Allowance
Provident Fund (E'ee)
Provident Fund (E'er)
Considering the brak up your would require for the CTC of 2 LPA, here its goes
Basic (@ 40% on CTC) - 80000
HRA (@ 16% on CTC) - 32000
Conveyance (@ 800 p/m) - 9600
Medical Allw (@ 1250 p/m) - 15000
Spl Allowance (CTC - other components) - 44200
PF - E'ee (@ 12% of basic) - 9600
PF - E'er (@ 12% of basic) - 9600
The above said break up is given considering the CTC and the being employee friendly. Please do revert if this will be helpful.
Regards
Jeevan
From India, Thiruvananthapuram
First of all i would like to understand few points to your question put across
- What will be the base to design the Salary Structure
- Do you have any limitations wrt to the design
- How big is your organization
- Is your organization trying to come up with new structure and you are given the assignment?
- Is this a test to assess your competence?
Below is the Salary Structure based on my experience which has been in place and from IT as the industry segment
Salary Components
Basic
HRA
Conveyance
Medical
Child Education Allowance
Special Allowance
LTA
Variable Allowance
Provident Fund (E'ee)
Provident Fund (E'er)
Considering the brak up your would require for the CTC of 2 LPA, here its goes
Basic (@ 40% on CTC) - 80000
HRA (@ 16% on CTC) - 32000
Conveyance (@ 800 p/m) - 9600
Medical Allw (@ 1250 p/m) - 15000
Spl Allowance (CTC - other components) - 44200
PF - E'ee (@ 12% of basic) - 9600
PF - E'er (@ 12% of basic) - 9600
The above said break up is given considering the CTC and the being employee friendly. Please do revert if this will be helpful.
Regards
Jeevan
From India, Thiruvananthapuram
Dear Puja Rani / Jeevan
In addition to the queries asked by Mr Jeevan, certain points should also be kept in mind and those are
> whether the org. has universal one salary policy i.e same structure for all level of hierarchy
> coz structure is to be drawn for manufacturing co. there are so many allowances given in the factory
> Pls mention whether it should be in favor of company or employee (both way it is possible)
I am too late to repond
From India, Mumbai
In addition to the queries asked by Mr Jeevan, certain points should also be kept in mind and those are
> whether the org. has universal one salary policy i.e same structure for all level of hierarchy
> coz structure is to be drawn for manufacturing co. there are so many allowances given in the factory
> Pls mention whether it should be in favor of company or employee (both way it is possible)
I am too late to repond
From India, Mumbai
Dear Pooja,
I am unable to attache excel sheet here..
Please extract below data to excel sheet..
CTC: 16667 200000
GRADE: Executive
CITY: Non-Metro
PF TYPE: Full on Basic
COMPONENTS MONTHLY ANNUAL
A) Taxable Components
Basic 6667 80000
Special Allowance 4899 58792
TOTAL (A) 11566 138792
B) Statutory Components
Provident Fund (Employer's Cont.) 800 9600
Gratuity 279 3344
ESIC (Employer's Cont.) 0 0
Statutory Bonus 555 6664
TOTAL (B) 1634 19608
C) Allowance & Reimbursement (Non Taxable)
House Rent Allowance 2667 32000
Conveyance Allowance 800 9600
Medical Reimbursement 0 0
Telephone Reimbursement 0 0
Food Coupons 0 0
Internet Expense Reimbursement0 0
Leave Travel Allowance 0 0
TOTAL (C) 3467 41600
D) Optional Allwoance & Reimbursement (Non Taxable)
Periodical Journals 0 0
Dress Allowance 0 0
Car Reimbursement 0 0
Driver Salary 0 0
Child Education Allowance 0 0
TOTAL (D) 0 0
CTC: 16667 200000
I am unable to attache excel sheet here..
Please extract below data to excel sheet..
CTC: 16667 200000
GRADE: Executive
CITY: Non-Metro
PF TYPE: Full on Basic
COMPONENTS MONTHLY ANNUAL
A) Taxable Components
Basic 6667 80000
Special Allowance 4899 58792
TOTAL (A) 11566 138792
B) Statutory Components
Provident Fund (Employer's Cont.) 800 9600
Gratuity 279 3344
ESIC (Employer's Cont.) 0 0
Statutory Bonus 555 6664
TOTAL (B) 1634 19608
C) Allowance & Reimbursement (Non Taxable)
House Rent Allowance 2667 32000
Conveyance Allowance 800 9600
Medical Reimbursement 0 0
Telephone Reimbursement 0 0
Food Coupons 0 0
Internet Expense Reimbursement0 0
Leave Travel Allowance 0 0
TOTAL (C) 3467 41600
D) Optional Allwoance & Reimbursement (Non Taxable)
Periodical Journals 0 0
Dress Allowance 0 0
Car Reimbursement 0 0
Driver Salary 0 0
Child Education Allowance 0 0
TOTAL (D) 0 0
CTC: 16667 200000
Ctc structure in formulations i want this structure in formulations just an design in formulations for 2 lakh
From India, Hyderabad
From India, Hyderabad
Hi,
Kindly find the description of Major Salary Components
Major Salary Components « hrmexpress
and the CTC Calculator
From India, Mumbai
Kindly find the description of Major Salary Components
Major Salary Components « hrmexpress
and the CTC Calculator
From India, Mumbai
The CTC Calculator
CTC Calculator « hrmexpress
Let me know if you require further assistance
From India, Mumbai
CTC Calculator « hrmexpress
Let me know if you require further assistance
From India, Mumbai
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