Hi All!! Please help me out to clarify is special allowance and medical allowance are part of your ctc or its into flexi plan? Also please guide me for salary break ups. Thanks
From India, Bengaluru
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From India, Bengaluru
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Hi Priyanka,
Salary break is formulated and implemented entirely based on the company's policy. Many companies have different salary breakup structures, where the medical allowance is either a part of CTC or a flexi pay. If your organization is in the manufacturing sector, then usually the medical allowance is added in CTC, either as a monthly component or in a yearly component. In the monthly component, you have to submit the bills against the claim, and the same will be reimbursed to you along with your monthly salary, either through bank payment or in cash, depending on the company's policy.
As far as salary breakups are concerned, go to the search toolbar on top of the page (in citehr) and post your query. You will find many posts related to your query along with samples.
From India, Mumbai
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399Salary break is formulated and implemented entirely based on the company's policy. Many companies have different salary breakup structures, where the medical allowance is either a part of CTC or a flexi pay. If your organization is in the manufacturing sector, then usually the medical allowance is added in CTC, either as a monthly component or in a yearly component. In the monthly component, you have to submit the bills against the claim, and the same will be reimbursed to you along with your monthly salary, either through bank payment or in cash, depending on the company's policy.
As far as salary breakups are concerned, go to the search toolbar on top of the page (in citehr) and post your query. You will find many posts related to your query along with samples.
From India, Mumbai
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CTC stands for Cost to Company. It technically encompasses all the components that constitute the package for an employee, including contributions towards retirement benefits. Any type of allowance is definitely included in CTC.
From India, New Delhi
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From India, New Delhi
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Typical salary breakup.jpg
Salary breakup format.xls