Dear comrades, I would like to know the Fringe Benefit offered by the company also.. So that we can calculate the CTC; which could be the better node for putting our demand. smile with visu.. :)
From India, Madras
From India, Madras
Kindly check attached PPTs posted by me earlier in following posts...mail me if u have any probs
https://www.citehr.com/33861-comp-be...-part-2-a.html
https://www.citehr.com/33610-comp-ben-notes.html
mail me on
shud u hve any probs
chao
From India, Mumbai
14https://www.citehr.com/33861-comp-be...-part-2-a.html
https://www.citehr.com/33610-comp-ben-notes.html
mail me on
chao
From India, Mumbai
Hi!
This Salary Structure is a very old model and what is usually called the "Thirty Year Employment Chart". I have also seen a similar chart in the Middle East and I called it the "One hundred Year Salary Chart".
As shown by the given example, each Job Grade has thirty (3) steps and an equal increment of Rs 200.
With that information, we can easily conclude that the company's methodology for increasing salary every year is based on seniority. As such, every year, all employees get an increment of Rs 200 regardless of their performance.
This salary structure can last the employment life of many of the original employees. Indeed, the first batch of employees would be retiring before they can reach the 30th step.
Modern Salary structures are reviewed and adjusted every three (3) to five (5) years. Their rates are also benchmarked with industry rates. Otherwise, they may not be able to fullfill the second principle in Compensation --- i.e. External Competitiveness.
Today's organizations and employees would prefer a performance based methodology. Indeed, outstanding performers in many organizations would like to be paid more than the ordinary performers and/ or non-performers.
Also, modern Salary Structures provide more leeway to management relative to the annual increases. Hence, many structures woudl simply provide the minimum, median, and maximum rates and allow the immediate managers to recommend the appropriate increases per employee --- depending on the result of their annual performance review.
Best wishes.
Ed Llarena, Jr.
Managing Partner
Emilla Consulting
(helps improve corporate governance worldwide, esp in Asia, the Middle East, Africa, and the Pacific REgion)
From Philippines, Parañaque
This Salary Structure is a very old model and what is usually called the "Thirty Year Employment Chart". I have also seen a similar chart in the Middle East and I called it the "One hundred Year Salary Chart".
As shown by the given example, each Job Grade has thirty (3) steps and an equal increment of Rs 200.
With that information, we can easily conclude that the company's methodology for increasing salary every year is based on seniority. As such, every year, all employees get an increment of Rs 200 regardless of their performance.
This salary structure can last the employment life of many of the original employees. Indeed, the first batch of employees would be retiring before they can reach the 30th step.
Modern Salary structures are reviewed and adjusted every three (3) to five (5) years. Their rates are also benchmarked with industry rates. Otherwise, they may not be able to fullfill the second principle in Compensation --- i.e. External Competitiveness.
Today's organizations and employees would prefer a performance based methodology. Indeed, outstanding performers in many organizations would like to be paid more than the ordinary performers and/ or non-performers.
Also, modern Salary Structures provide more leeway to management relative to the annual increases. Hence, many structures woudl simply provide the minimum, median, and maximum rates and allow the immediate managers to recommend the appropriate increases per employee --- depending on the result of their annual performance review.
Best wishes.
Ed Llarena, Jr.
Managing Partner
Emilla Consulting
(helps improve corporate governance worldwide, esp in Asia, the Middle East, Africa, and the Pacific REgion)
From Philippines, Parañaque
Hi ,
I am attching a PDF where you will get a basic idea and knowledge of what allowances are tax and what are the limit.What all allowances you can include and exculde.
For any further querry you can mail me.
[IMG]https://www.citehr.com/misc.php?do=email_dev&email=YW5hbWlrYXN1cmVrYUBnbW FpbC5jb20=[/IMG]
With regards
Anamika Sureka
Knowledge is weapon:icon1:
From India, Calcutta
I am attching a PDF where you will get a basic idea and knowledge of what allowances are tax and what are the limit.What all allowances you can include and exculde.
For any further querry you can mail me.
[IMG]https://www.citehr.com/misc.php?do=email_dev&email=YW5hbWlrYXN1cmVrYUBnbW FpbC5jb20=[/IMG]
With regards
Anamika Sureka
Knowledge is weapon:icon1:
From India, Calcutta
i just want share one thing that........whtever be ur employee's performance......the employer must provide him hike in salary by 10%.......
so based on it we have to design salary structure.......
From India, Mumbai
so based on it we have to design salary structure.......
From India, Mumbai
Salary and wages are magical words and are not defined properly by such acts. Can a persons basic is Rs.100/-per month and gross salary is 10000/- pm?
From India, Guwahati
From India, Guwahati
is the labour rules are also applicable to IT industry......that also smaall one.......because i have been working in an IT solution co....but they are not aware with all these rule.....hence pls solve my quary........
From India, Mumbai
From India, Mumbai
Dear Sir,
Iam thankful for your information regarding salary structure .
If the gross salary is 3850 then the Basic can we calculate 55% of the basic and HRA 40% of the Basic then conveyance reamins contant of Rs.500 and the difference amut can be adjusted at Education Allowance ,wat do you suggest sir.
From India, Hyderabad
Iam thankful for your information regarding salary structure .
If the gross salary is 3850 then the Basic can we calculate 55% of the basic and HRA 40% of the Basic then conveyance reamins contant of Rs.500 and the difference amut can be adjusted at Education Allowance ,wat do you suggest sir.
From India, Hyderabad
Hi Wilson,
The xcel sheet is good. I see that the Basic varies from 56% to 40% on the upward grade and also other breakups. I understand that many of our citeHR members are willing to know about the position Vs grade, experience wise and the formula.
W.r.t formula, all the breakups have not been taken in whole number but in fractions too. To the maximum this should be avoided because the HR Payroll specialist will not be in a position to memorise and recall the breakups of many Grades. S1, S2... M1, M2 etc.
Good job, Wilson.
Regards,
Chandru
Chennai
From India, Madras
The xcel sheet is good. I see that the Basic varies from 56% to 40% on the upward grade and also other breakups. I understand that many of our citeHR members are willing to know about the position Vs grade, experience wise and the formula.
W.r.t formula, all the breakups have not been taken in whole number but in fractions too. To the maximum this should be avoided because the HR Payroll specialist will not be in a position to memorise and recall the breakups of many Grades. S1, S2... M1, M2 etc.
Good job, Wilson.
Regards,
Chandru
Chennai
From India, Madras
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Creating a Competitive Salary Structure.doc
Salary Structure.zip