Hi Mita,
Being a Faculty you should encourage your students to explore the possibilities in any situation instead of given them a ready made case. One of the good way to explore the HR compensation area is to give the students a Cost to the Company Figure let say of 5 Lac and ask them to find out that in how many different salary heads, they can bifurrcate this total amount.
In order to answer they need to explore the name of different salary cmponents and their meaning and usage in the salary structure. According to me if you make the assignment in such a way then it will definitely help students to understand basic of compensation structuring.
Regards,
Preyrna
HR Professional