Salary Discrepancy During Probation Period
If the offer letter of an employee states that the total salary during the probation period is 1.68 lakh per annum (PA), and the probation period is 6 months, the employee should receive Rs. 14,000 per month but is only receiving Rs. 13,000 per month. The company has not specified whether the Cost to Company (CTC) period is 12 months or 14 months.
What amount should the employee be paid by the company? Also, what if the management is not providing a breakdown for the deductions?
From India, Pune
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If the offer letter of an employee states that the total salary during the probation period is 1.68 lakh per annum (PA), and the probation period is 6 months, the employee should receive Rs. 14,000 per month but is only receiving Rs. 13,000 per month. The company has not specified whether the Cost to Company (CTC) period is 12 months or 14 months.
What amount should the employee be paid by the company? Also, what if the management is not providing a breakdown for the deductions?
From India, Pune
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CTC comprises various salary components like BASIC, HRA, LTA, Medical allowances, PF, ESIC, etc. Now, if the CTC is Rs. 168,000 per annum, you have calculated the expected salary as 168,000/12 = 14,000, right? This is incorrect, as there are different deductions in the CTC, such as PF deductions, ESIC contributions, etc. You need to obtain the salary breakup and deduction details from the employer for a better understanding of CTC and the net take-home salary.
Thank you.
Regards.
From India, Pune
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70Thank you.
Regards.
From India, Pune
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SALARY SHEET CALCULATION.xls
Salary calculation.doc