Payroll Pay Components And How The CTC Would Be Calculated?

Hi, Ours is a start up company and Am new to this HR Department , could any one help me with the pay components and how the CTC would be calculated and how the Payroll would be run exactly.

Hi Pavitra,
Basically there are two types of calculation Forward and backward. It depends on the company which method to follow. with respect to pay component again it has to be decided in accordance with Labor Law, Tax Structure, Type of Industry and what is long term plan.
Most of the companies follows grade and band model to decide on the component. We can further have discussion with this regard.
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Regards,
Niraj Sharma