I'm working in a pvt. ltd company with approximately 45 - 50 employees are working.We are revising HR rules and regulations in the company and by that time we just had the discussion on our salary components such as Basic,DA,HRA,TA and incentive.
I have done some ground work related to this but still not reached to a certain point.
We have divided the salary components as mentioned below.
If the gross salary is 10,000 per month :
Basic = 50% of gross
DA = 10% of gross
HRA = 20% of gross
TA = 14% of gross
Incentive = 6 % of gross
*statutory compliances like PF,ESIC and gratuity.
*LTA and bonus
*Variable pay (applicable only for technicians and engineers)
My queries are :
1) How much we should contribute for gratuity per year??
2) Is there any rule that we should contribute the above mentioned % only for various salary components.
3) What is DA??
4)for travelling allowance whether the amount which we have shown is high??
5)is it mandatory that, these 5 salary components should comprises of 100% of gross salary?? 14th July 2018 From India, Pune