Salary Package-ctc - Xls Download - CiteHR
Maulik Dave
Hr Professional
+1 Other

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Joined in infra industry and need to setup new hr salary slabs for new entrants. Needs salary structure for 5 lac per annum ctc.pls guide and send.
Hello My seniors, pls help me in seeting up the Hr depatrment in my new company as i have not having clarity as where to start from?
@ Ravi Sankar Iyer,

Good Afternoon....!!!!!

I would like to suggest,

1) First start with Defining HR Manual which contains all policies & formats for your new company. Ensure its aligned with your business goal & of course with Labour laws & necessary compliance.

2) Prepare procedure & processes guidelines for HR. Depends upon Daily, Weekly, Monthly requirement.

3) Make a Departmental & Company Hierarchy chart to make people aware about reporting structure. This will also ensure proper direction of communication & taking necessary approvals for business decisions.

4) Take necessary approvals from technical team members, if you are designing something related to Technical processes.

I hope after doing above exercise, you can start doing regular HR work like, Recruitment, Pay-rolling, Compliance submission, Performance review, Motivational activities, grievance handling etc....

Now, Ans of your first question (CTC Breakup of 5 Lacs)

1) Basic = 16667 (40% of Monthly CTC 41667, You can take it as gross as well)

2) HRA = 8334

3) Conveyance = 800

4) Medical Allowance = 1250

5) The rest figure you can adjust to Employer's PF Contribution, LTA & PT & other allowances.

6) Gratuity you may include if its a part of your company pay structure.

Revert in case you required any further information.

All the best

Thank U Mr.maulik for your kind guidence. We are at uttar pradesh (Noida). Doing for Prob. management tranee-sales.
I have taken 50 % of the CTC as Basic as per the Hr mananual (which was already made by my CEO.earlier my joining).
I have made a sheet and enclosing for your insight guidence for any missed out or wrong calculations if found.
Thanks Ravi.


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File Type: xls fina salary break up-5,3.5 lac ctc..xls (33.0 KB, 1228 views)

@ Ravi Sankar Iyer,

Good Evening......!!!!!!

Please find attached Revised Sheet for 5.0 & 3.5 Lacs Package as required.

Suggestions :

1) In your 5 Lacs salary structure You will be paying 39160.42 + 2835 + 2500 = 44495.83 X 12 (months) = 533940 CTC, So its showing wrong CTC higher 33940 yearly. You can change the same in 3.5 CTC structure as well.

2) In your 3.5 Lacs salary structure You have calculated Employer's PF (13.61%) on HRA which is wrong. It has to be on Basic.

3) As per latest amendments in PF laws the PF Ceiling Limit has increase from 6500 to 15000. & in 5 Lacs salary structure the Basic is above 15000, so you may exclude if PF is not required by Employee. While in 3.5 CTC PF becomes compulsory as the Basic is 14584.

4) Even as per ceiling limit you may decide the PF max limit up to 1800 (15000*12% OR 15000*13.61% = 2042) if your company policy allows. This will low down you manpower cost without violating govt. laws.

Revert in case you required any more information.

All the best


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File Type: xls fina salary break up-5,3.5 lac ctc..xls (21.5 KB, 350 views)

Dear Mr.Maulik dave,

Thank U for the right guidence and rt correction.great help.. yes i have mistakenly done the empr PF deduction with HRA for 3.5 lac.Corrected accordingly.

2. If the max PF ceiling is 1800, then shall we go with 1800 as standard deduction of PF for 5 lac (and above) CTC emps and add the difference with other allaces to balance ctc? wil that be rt as per norms?

3. My company would like to add an EMP Welfare Fund deduction (50% from employer and 50% from emp) for all in monthly sal to meet their emergencies.

4. what is the limits and is it under tax exemption clause? is there any ceiling for that? (company wants to deduct as 100-200 /month) our strenght @ present is 100+ and will increase up to 500 by end of Sep'15 (by adding project department etc).

5. What is the proceedure for releasing the fund to emp on request from accounts?

6. Is it necessary to show the accumulation of the fund status to all on monthly basis in their Sal Slip?

Pls Calrify me.

Rgds,

Ravi.

@ Ravi Sankar Iyer,

Good Evening......!!!!!!

Sorry as I was away from Cite HR due to some professional engagements. So reverting your query bit late.

Your Answers as follows :

2) Yes Its perfect as per PF norms if you contribute upto PF celling limit of 1800. But yes you can enhance it up to 12% of Basic if your employee (Who Draws 5 Lakhs salary) wants to get the benefit for TAX exemption.

3) & 4) Yes, You can draft a Notification stating that you are going to introduce "EMP Welfare Fund scheme" in your organization for employee benefits & send it to all concern HODs. You may decide the amount as per company norms. I suggest Please refer local govt. Acts before taking final decision.

5) In my view you are raising query related to Advance Salary. For that kindly define policy with Taking approval from concern authorities like CFO & CEO that what should be the process, who is eligible (Example : old & Confirmed Employees only) , Approving authorities, Max Approval Limit etc..... Management Hierarchy Chart will definitely give your direction for design process to take a approvals.

6) Its not necessary, but its beneficial to gives transparency of your policies, for Accumulation of funds you are deducting from any employees salary.

Hope Doubts are clear.

All the best.

Thank You Mr.moullik,
Let me clarify a thing that, if we deduct rs.1800/- as std deduction for EPF in Emp contribution as suggested, what is the % be as Employer contri as against 13.61%? Will that be also be 1800/- or what? Can we adapt this for 5 lac and above structure also?
Pls.
Ravi.

@ Ravi Shankar Iyer,
Good Evening.....!!!!!
PF Employer Contribution is 12% only the 1.61% is admin change PF authority taking for maintaining your account. Now you can decide that this 1.61% charges you (company) want to bare or you want to include in CTC of Employee.
Yes, 1800/- the same can be adopted for 5 Lacs & above structure as well.
Regards,
Maulik Dave

Can anyone help me with a Salary Structure CTC chart for a CTC of Rs.40 lakhs per year with free housing and Car + driver extra or Rs. 45 lakhs whereby the Housing and Car will be subsumed in the 45 package . In allowances maximum tax saving to be reckoned in the work out and there is a scope for all kinds of allowance like Professional development allowance, Book / Journal allowance, Servant allowance, Newspaper 7 magazine allowance, Medical allowance, and so on apart from general allowance. Very urgent...please help me....

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