Is My Salary Package Fair? Seeking Your Honest Feedback and Suggestions

My Salary Details

Basic Pay: 2950
DA: 4720
HRA: 3068
Conveyance: 800
Special Allowance: 3462
Net: 15000 - professional tax (200) = 14800

Is it good? Kindly suggest to me. Your feedback is valuable to me.

Clarification on Salary Evaluation

What do you want to ask? Salary is based on qualifications, experience, type of industry, etc. Without furnishing the details, you are simply asking if it is good or bad, which no one can answer.

Regards,
Pon, Chennai

Salary is decided based on many factors for freshers, for example, education, knowledge, company's start-up grade, training costs incurred, etc. This will vary for all companies, with some offering more and others less.

What is more important is how you feel about it rather than how we feel. If you believe it is good, then it is good. If you don't feel that way, consider searching for a new job.

Regards,
Pranali G

Current Pay Structure in the IT Industry

The pay structure in the IT industry has plummeted. For freshers like you, having the MCA qualification, this salary band is prevalent even in reputed IT firms.

Thank you.

From your question, it appears that after ascertaining the salary structure, you have joined the present job. Please cheer up! In Bangalore, MA, M.Com, and Ph.D. candidates are working as clerks, auto drivers, and waiters in restaurants. Candidates with B.E (E&C), (IT) have been appointed on a consolidated salary of Rs. 10,000/- without any assurance of further hike or confirmation and absorption into the regular role. In KSRTC Bangalore, the drivers and conductors are initially appointed on a contract basis on a consolidated pay of Rs. 5,000/- and will be absorbed into the mainstream at the minimum of the time scale after satisfactory service during the contract period.

Please compare your position; you are placed above them and drawing a salary in the prescribed scale. Be happy, as you will see good days. If you feel you are not getting the salary as you wished, quit the job and find a good placement.

Understanding Minimum Wage and Employer Practices

Your employer is playing with labor law. Your minimum salary is less than the daily wage labor, or in other words, it's less than the daily "Majdoor." Please check the list of minimum wages in different states. This is all because people are not aware of labor rights and laws and are getting exploited. The minimum wage is not less than Rs. 180 per day in any state, so it comes to Rs. 5400 (Basic) per month.

The politics behind giving less basic salary is to save their tax on PF and ESI as it is calculated on the basic salary. Sorry if it feels bad, but it's true.

Regards,
G Singh Chauhan.

As a fresher, you are receiving a decent salary. However, I highly suggest that at the initial stage of your career, one should not be solely focused on the salary aspect. Instead, he/she should prioritize learning because good learning opportunities will eventually translate into better remuneration. All the best!

In any state, minimum wages are defined based on Basic+DA. In the salary structure provided by Revanayya, the breakdown is as follows: Basic = 2950, DA = 4720, totaling Basic+DA = 2950+4720 = 7670, which aligns with the minimum wages act applicable in Karnataka.

I urge you not to share incorrect information as it could lead to a lack of interest in one's current employment. It's essential to understand the minimum wages and how to calculate PF and ESI. Minimum wages vary from state to state, and PF is calculated on Basic+DA, while ESI is based on Gross salary.

Regards,
Ashutosh