Anonymous
Hi, Please help me out to fix the Salary components.
1. If I keep basic 45% and HRA needs to be 45 or 50%?
2. Statutory bonus is 8.33% to 20 %. So how much or how I need to calculate. Please explain.
3 I m preparing salary-break up with
Basic,
HRS
LTA
Conv
MED All
Statutory Bonus if applicable
Spl.All
Please correct me and guide me with the percentage for each component.

From India, Delhi
umakanthan53
6016

As per the definition of the term ' wages' under the Code on Wages,2019, 50% of the gross should comprise of basic, dearness allowance or retaining allowance as the case be. When the sum of all other allowances exceed 50%, the excess amount shall be added to the basic for computational purpose of all indirect monetary benefits of employment.
Based on this formula, you can work out the salary structure comprising of items mentioned.

From India, Salem
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