Dear Sir,
Thank you for the reply. I still need some clarification.
The above said amount(Rs.30000) is gross salary of the employee. Pf employer contribution and ESI is extra payment but part of the CTC. We are paying statutory bonus along with exgratia (which is more than minimum bonus- subject to company performance) once in a year. We have additional employee benefits like Incentive (1 month salary, paid once in a year), LTA(Basic+DA, paid once in a year) and Medical reimbursement (Basic+DA, quarterly). adding altogether CTC will be 40000 P/M (approx). So should I consider 50% wages and exemptions out of 40000/- ?. So monthly Basic +DA will be 20000/- and exemptions will be 10000/-?.
2. What if the employee drawing gross salary 50000/- (Basic+DA 30000/- others 20000/-). He is out of statutory bonus eligibility (we are paying exgratia), but his total CTC will be 70000 P/m (aprox).
Thank you for the reply. I still need some clarification.
The above said amount(Rs.30000) is gross salary of the employee. Pf employer contribution and ESI is extra payment but part of the CTC. We are paying statutory bonus along with exgratia (which is more than minimum bonus- subject to company performance) once in a year. We have additional employee benefits like Incentive (1 month salary, paid once in a year), LTA(Basic+DA, paid once in a year) and Medical reimbursement (Basic+DA, quarterly). adding altogether CTC will be 40000 P/M (approx). So should I consider 50% wages and exemptions out of 40000/- ?. So monthly Basic +DA will be 20000/- and exemptions will be 10000/-?.
2. What if the employee drawing gross salary 50000/- (Basic+DA 30000/- others 20000/-). He is out of statutory bonus eligibility (we are paying exgratia), but his total CTC will be 70000 P/m (aprox).