Hi, can any provide me the detailed salary break up for annual salary of 4,20,000, i.e 35,000pm. And without pf as it is a small IT firm with 6 employees. The details needs to be mentioned in the offer letter for annexure so please mention it in details. Thanks in advance.
Any one please do help me in the above question and it's urgent please assist me in the same.
Thanks and Regards,
Rekha.
Hi Rekha,
A model CTC is attached, adopt it with modifications required to suit your policy.

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File Type: xls CTC 420000.xls (22.0 KB, 149 views)

Thank you kumar. In the annexure of the offer letter if it is mentioned as below is that fine? can you please let me know? thanks in advance
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,
Rekha.
It's a sound official practice first get your remuneration policy right. Of course, as private firm you'll have your liberty to alter your structure as and when required but at the same time when you make it as a policy frame work such an admin help you in future to take appropriate decisions -
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.
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