New to HR in a Startup: How Do I Calculate CTC and Manage Payroll?

Hi,

Our company is a startup, and I am new to the HR department. Could anyone help me with the pay components, how the CTC would be calculated, and how the payroll would be run exactly?

Hi Pavitra,

Basically, there are two types of calculations: Forward and backward. It depends on the company which method to follow. With respect to pay components, it again has to be decided in accordance with labor law, tax structure, type of industry, and what the long-term plan is. Most companies follow a grade and band model to decide on the components. We can further discuss this regard.

You can contact me at [Login to view].

Regards, Niraj Sharma