Dear Martin,
Across industries, the compensation structure varies, but there are certain fixed components which are as follows:
1. Basic
2. DA/VDA/FDA
3. HRA (50% of basic for metros, 40% for non-metros, with a minimum of 5% of basic as per HRA Act for the state of Maharashtra)
4. Conveyance Allowance/Transportation Allowance
The above four components are fixed across any organization or industry.
Based on organizational needs, an organization designs its own compensation structure to suit its requirements.
Whether the position is that of CFO/RSM/CCA, these four components will continue to exist. If a company has provisioned for a car/bike or any travel facility, then conveyance/Transportation allowance will not form part of the fixed pay.
Then we have variable pay, which is tied up with the performance of an individual. For example, for a CFO Position, you can add one component as Performance allowance/Performance bonus/Performance award, which can be an annual payout/quarterly payout/half-yearly payout depending upon the requirements of the organization and the role of payout in motivating an individual to perform better and deliver the best.
For sales & call center agents positions, incentives and commission can be added as variable pay, or in the case of agent positions, a retainer ship allowance plus commission would be the best fit.
General components:
1. Child education allowance
2. Uniform allowance
3. Other fringe benefits such as food coupons/meal pass, etc., can be added.
Regards,
AS