This is sridharrajan i have been working as HR at engineering firm, My boss is task given and recruiting experienced engineer , the salary is gross 25000.
How to break up as per the factory norms.
Dear Sridharrajan,
You are advised to contact a Chartered Accountant. The CA would suggest viewing the present tax structures and different legislations in force to keep the interest of employer and employee is safe. You will be benefited by this and also come to know the facts.
Dear Sridharrajan
please find detail in breakup hope it will help to you.
1 BASIC 10,025
2 SPECIAL ALLOWANCE 5,862
3 HRA 5,013
4 CONVEYANCE 1,600
5 MEDICAL ALLOWANCE 1,250
6 UNIFORM ALLOWANCE 1,250
GROSS SALARY 2,5000
Dear colleague,
The salary/wages are not governed by the Factories Act. As an HR , you should have known this.the
The break up of salary is based on company's policy and differs from company to company.
However, while breaking it into the various components , one has to consider prevailing Income tax exemptions /rebate so that the employee gets good take home salary.
Regards,
Vinayak Nagarkar
HR- Consultant.
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