BASIC: 21000 (pa) 17500(pm)
FDA/VDA: 105000(pa) 8750(pm)
HRA: 42000(pa) 3500(pm)
MEDICAL: 10000(pa) 833(pm)
CONVEYANCE: 18000(pa) 1500(pm)
OTHER ALLOW: 35000(pa) 2917(pm)
total: 420000(pa) 35000(pm)
Thanks and Regards,
What is required is & you should be clear is -
i) Keep track on state's minimum wages stipulation
ii) The trend in salary of other competitors in the same sector
iii)Nothing wrong in keeping the structure flexible to meet compulsions, at the same time keep them commonly applicable to all item wise, may be the amounts vary from person to person and on status. For eg. in place of conveyance you may introduce petrol allowance at actuals for senior members who are using cars, lunch allowance/food coupons to all/entertainment allowance or reimbursement of business promotional expenses for those involved in direct customers rapport etc.
iv) Observe statutory requirement in letter and spirit-remittance of Prof.Tax/TDS, maintenance of records,
submission of reports & returns etc.
v) You are free to, if necessary, add or delete components in the structure without tinkering Basic.
Basic should be Rs.2,10,000 (pa), others are ok.
I believe you are finalising the package on CTC basis. If yes, you may have to consider revealing other 'annual charges/components' also to make up to the CTC package.
All the best.