Dear All, I'm having a confusion while structuring the Salary Components. Below is the scenario,
If an employee whose Salary is Rs.11500/- Gross then his basic salary would be either 50% of Gross or whatever the minimum wages, correct me here if I am wrong.
The Basic salary we have taken is 10650/-.
Then after basic, HRA is supposed to be 40% or 50% of Basic depending upon the city criteria whether it is metro or no metro, right or we can also put the remaining amount in the HRA if it is below 40% right.
Now, we also have a bonus component in monthly gross salary and not in CTC.
So, then what should I take on priority, shall I take HRA to be fulfilled with the remaining amount or Bonus?
Please do revert to this situation along with the authentication proof.
From India, Haridwar
As far s possible and unless you have Dearness Allowance as part of salary, put the notified minimum wages as basic salary. The rest you can decide. But the bonus cannot be part of gross salary.
From India, Kannur