Salary Breakdown Dilemma: How Do You Create the Perfect CTC Structure?

I want to formulate a perfect salary/CTC breakup structure. Please help.

Please find the CTC Calculator attached. All you need to do is fill the yellow cells with the details, and the CTC will be automatically calculated.

Regards,

Dear Mr. Sumit,

You did a great job, but there is an error in the calculation. According to the ESI Act, salary holders above 15k are not eligible to get ESIC benefits. Please modify your salary calculator accordingly and repost it for the aspirants.

Regards,
Uday.

Thank you for your response. The issue has been rectified, and the new calculator has been uploaded.

Regards

I already have the same calculator for my organization. Still, there is an error. As per ESI, it is to be calculated on gross salary, whereas in the calculator, it is calculated on basic, which is a wrong calculation. Kindly correct.

Regards,
Ashama

CTC Calculation Sheet Attached

Please find the attached CTC calculation sheet.

Regards,

Please note that I have worked on the subject considering all statutory labor and IT guidelines/rules.

CTC Salary Heads

The CTC salary heads include Basic Pay, HRA, Conveyance Allowance, Medical Allowance, Other Allowance, Special Allowance, Sodexo Coupons, Leave Travel Allowance, Ex-Gratia Pay, Statutory Bonus, ESIC - Employer Contribution, PF - Employer Contribution, Gratuity Pay, ESIC - Employee Contribution, PF - Employee Contribution, Profession Tax, etc. Overseas Deputation Allowance, Performance Bonus, and Retention Bonus are over and above the Fixed CTC Amount. The Monthly Gross and Monthly Net Salary are calculated, and the CTC fitment is very clear.

CTC Calculation Process

The input cells are C19 & E4 for Grade and CTC. Upon feeding the two data input cells, the adjustment cell "J12" is calculated. Cell "J12" is to be copied, and the value only is to be pasted in cell "H2" (using Paste Special). The CTC fitment is computed with "ZERO" error.

The CTC fitment is protected with all required cells hidden/locked.

In case of any queries/doubts, please revert to the undersigned.

Thanks & Regards,

Lancy Menezes

Manager - HR & Administration

Mumbai

Mobile # [Phone Number Removed For Privacy Reasons].

Hello everyone,

I am still confused about PF, ESI, and other deductions. A lot of members have shared their opinions, some mentioning basic deductions ranging from 40% to 35%, along with HRA varying from 50% to 18% as mentioned on the website "cite hr." I am a fresher in the industry. Can anyone suggest all the details to me?