Dear All, I need a help in designing CTC structure for a company. We have the following salary heads
Basic Salary, HRA (40% of Basic),Conveyance 20% of basic = comes to fixed gross monthly
Apart from this following Salary heads are there
LTA= 1 Month Basic (Payable once in Year)
Medical Reimbursement = 1 Month Basic (Taxable after Statutory Deduction of Rs.15000)
Bonus: 20% of Basic Salary (Fixed for Year)
Employer PF contribution 12% of basic
Gratuity: As per rules
Superannuation: 8.33% or one basic salary (Applicable after 10 Years of service)
Mediclaim Insurance (Cost Borne By Company)
Total to the final CTC
Now I have to make it fixed CTC & variable CTC.
So Basic + HRA + Conveyance + LTA + Medical + Bonus = Fixed CTC
Other CTC Component
PF + Gratuity + Superannuation + Mediclaim Insurance
So can anyone pls guide me if this is a correct pattern of CTC breakup.
Basic Salary, HRA (40% of Basic),Conveyance 20% of basic = comes to fixed gross monthly
Apart from this following Salary heads are there
LTA= 1 Month Basic (Payable once in Year)
Medical Reimbursement = 1 Month Basic (Taxable after Statutory Deduction of Rs.15000)
Bonus: 20% of Basic Salary (Fixed for Year)
Employer PF contribution 12% of basic
Gratuity: As per rules
Superannuation: 8.33% or one basic salary (Applicable after 10 Years of service)
Mediclaim Insurance (Cost Borne By Company)
Total to the final CTC
Now I have to make it fixed CTC & variable CTC.
So Basic + HRA + Conveyance + LTA + Medical + Bonus = Fixed CTC
Other CTC Component
PF + Gratuity + Superannuation + Mediclaim Insurance
So can anyone pls guide me if this is a correct pattern of CTC breakup.