Salary Components [Thread 23553]

HI All,
Good Morning!!!!!
We are a growing software company. We are into restructuring our salaries. I am looking for the salary components other than standard one's like basic, da hra, spl allow, medical, trpt etc. Is there any way where in the employees sal package is kept on higher side but monthly package is not that high & are paid quaterly or halfyearly under a certain heading.
Regards,
Rajashree

Hi,
A gud question. Even I would like to know this. Any one who could help us out?
Regards,
Rajan

Dear Rajshree,
The medical you have mentioned can be paid on quarterly or half yearly basis instead of monthly basis.
You can also pay Reimbursement of Uniform Expenses on half yearly or annual basis(it can not be paid on monthly or quarterly basis as you generally do not give more than two uniforms in a year.
The LTA should be paid once in two years to save tax. If you do not want your employees to save on tax, you can pay it annually. In that case they will be able to save on tax on every alternate year (or to be precise only twice in a block of four years)
Employees who are out side the purview of Bonus Act can be paid a fixed amount or a fixed percentage of basic as bonus every year.
There is one more item.you can pay annual incentives (people also call it variable pay) which are either linked to profitability of the Company or employee's profit centre or to certain performance parameters of the employee.
So now you have wide option to chose from.
KKT

HI KKT,
Thnaks for your suggestions. THis definately is going to help me.
Best Regards,
Rajashree Bhalerao

HI ,
Thanks for your inputs, can you please suggest me about payment of our employees working out of India how can we calculate their salary package , according to our standards or UK or USA salary system.
Thanks
Sanika

HI ,
Thanks for your inputs, can you please suggest me about payment of our employees working out of India how can we calculate their salary package , according to our standards or UK or USA salary system.
Thanks
Sanika