Saswatabanerjee
Partner - Risk Management
Suresh2511
Labour Consultant
Harpreetwalia
Consultant-labour Laws
Renukashahu
Engineer
+3 Others

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Anonymous
I Request Your Help To Understand How Much Will Be My Monthly Take Home, In The Offer Which I Got From IBM Recently. Below Is The Salary Structure
Compensation Components IBM Offer (Rupees.)
1. Basic Salary 242821
2. Flexible Benefit Plan (FBP) 291385
3. Retirals
(A) Provident Fund (PF) 29139
(B) Gratuity 11655
Annual Fixed Remuneration 575000
I Will Be Very Helpful If You Can Help Me To Know , How Much Will Be My Monthly Take Home(Excluding Tax)?.
Thanks In Advance For Your Helping Mind.

From India, Pune
Actually you should be asking this question to you company when you got the offer.
They would have been able to tell you accurately.
For example we dint know what the FBP means. Is it paid each month ?
Item 3 you are not going to get
It's just for show
But you also need to factor in that from the basic,,they will deduct ₹1800 per month as PF deduction.
So your talk home will be ₹42717 or ₹18435

From India, Mumbai
Flexible benefit plan is inclusive of monthly incentive which are target based. If you meet you target 100% then who would be getting full amount. So it varies as per target aheivement
From India, New Delhi
242821+291385-29139=monthly take home 29139 will be 12% pf deduction out of your salary Gratuity , you will eligible only after completing 5 years Annual fixed remuneration will be paid annauly
From India, New Delhi
Thanks to all for helping me out. Please find FBP distribution and help me in getting in hand salary.
Flexible Benefit Plan (FBP) This is valued at 120% of your Basic Salary. The FBP allows employees to choose a benefit basket that suits their needs.
For certain elements, employees may avail of tax exemptions as per prevailing tax laws. The elements are listed below. (a) Leave Travel Allowance (LTA) LTA can be used for up to maximum of economy class airfare twice during a 4 year period as per Income tax rules.
(b) Medical INR 15,000/- per annum. To be used for medical expenses.
(c) House Rent Allowance Maximum 50% of Basic Salary per annum. To be used for house rent.
(d) Conveyance Allowance Maximum INR 800/- per month. To be used for vehicle expenses.
(e) “Flat” Allowance Remaining FBP funds and is a taxable amount.

From India, Pune
Dear Renuka,
The monthly gross & take home salaries should be 47916 & 44517 resp. where both before TDS.
Good point here is FBP is high, which will save TDS considerably. Since TDS is also a factor of your investments, the net take home (post TDS) is difficult to deduce.
The gratuity of 971 monthly is a waste in case you do not complete a min. tenure of 4 yrs & 240 days as per laws.
Regards,
Sumeet Pattnaik

From India, Mumbai
Renuka,
Pls ask your company to give you CTC break up. What has been told to you is a paper boat.
Basic 20235
Medical 15000
Conv 800
HRA 8482
Total 44517
PF - 2428
Total 42089
TDS - 25506
Take home 39963
Pls check it may not match as PT also gets deducted , EL, Bonus or Incentive gets added.
Regards,
Sarfaraz
Manager HR
Vardhman Pharma

From India, Bangalore
Dear Renuka,
Please do not disclose the name of the organisation in open forum. However as you seek support to understand your take home salary excluding ITAX and PTAX if any- may be as follows:-
Total yearly cash components = Basic-242821 + FBP - 291385 = 534206 DIVIDED by 12 = 44517/- per month. The distribution may be as follows:-
INR /MN.
Basic- 20235 + HRA -10115 (CLOSE TO 50% OF BASIC) + CONV-1600 (As per new ammendment of ITAX) + MED-1250 + LTA-2523 ( 1.5 TIMES OF MNLY BASIC AS YRLY ) + FLAT ALLOW- 8794 = MNLY GROSS -44517 LESS PF-2428 = 42089/- TAKE HOME PER MONTH EXCLUDING ITAX AND PTAX IF ANY.
The above distribution based on your data may be adjusted a bit here and there.
Thanks and regards,
S K Bandyopadhyay
USD HR Solutions
+91 98310 81531

<link outdated-removed>

From India, New Delhi
your take home salary before TDS should be Rs 42089/- per month. But as suggested best way to ask IBM. It may be different from company to company.
From India, Delhi
Renuka,
You may request your Finance or HR to enhance your conveyance allowance from Rs.800 to Rs.1,600 and deduct it from your flat allowance. This will help you to reduce your tax liability. Infact Mr. Nanu has already suggested you in salary breakup but forgot to advise the tax benefit. Your Management has already quoted conveyance amount of Rs.800 which you need to discuss and get revised.
Regards,
Suresh

From India, Thane

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