Hi, I have got an offer from org and I need help to understand the nitty-gritty of it.
The offered offer is all fixed (appx 10LPA) and there is no variable amount mentioned specifically in the letter. Although HR said that variable amount is not fixed and this is decided as per policy terms. Is this correct? Percentage of what will be given as performance bonus and or appraisal
There is a flexible benefits plan (fuel, LTA, and other on showing receipts) of appx 5LA, which HR says can be opt-out of the benefit, and the whole 5LA will be paid as per monthly basis. This point too is not mentioned in the offer letter. Please help in this regard.
Additionally, the offer mentions "Additional benefits extended as gratuity, group personal accident, group term life, and group Mediclaim insurance policy. Please help me understand what does this means. Will this amount be deducted from my salary per month or as part of the annual premium. Even in my current organization, these benefits are part of the offer as over and above.
Total package = > Fixed = Base pay * Flexible Benefit
Only if I opt out of FBP do I get 15LPA
In hand = 15 - PF - Tax (appx 116K)
Please help me if my understanding is correct.
My current package is 10LPA (appx 83k) will the above package make any difference.
From India, Pune
Offer is quite good, it seems more than the current package of 10LPA (appx 83k). Additional benefits extended as gratuity, group personal accident, group term life and group Mediclaim insurance policy normally should not be deducted from your salary on per month or as part of annual premium it is considered as over and above.
Take into consideration the re-location (if any) impact and decide accordingly.
From India, Nuvem
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