Hi Everyone, I am working as an HR Executive in a private company, and I am new to post-recruitment processes. As an HR professional, I would like to understand how to calculate the Basic from the Gross salary. Kindly assist me with this information, as I am eager to learn new things.
Regards,
Latha Jayachandran
From India, Chennai
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2Regards,
Latha Jayachandran
From India, Chennai
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As per any act, there is no rule to fix the basic wages from gross. We provide a bifurcation just to reduce the tax burdens from Income Tax and other administrative charges to the employer. Usually, the basic wage will be around 50% of the gross. Moreover, everyone should ensure that the basic wage is equal to or higher than the Minimum Wages Act.
From India, Bangalore
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From India, Bangalore
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Hi I an sharing the salary split for your reference. Just explain me the process how the Gross & Basic pay are correlated. Regards Latha.J
From India, Chennai
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From India, Chennai
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SALARY SHEET CALCULATION.xls
Salary calculation.doc