Dear All, I'm having confusion while structuring the Salary Components. Below is the scenario:
Salary Structure Scenario
If an employee's salary is Rs. 11,500/- Gross, then his basic salary would be either 50% of the Gross or whatever the minimum wages are. Correct me here if I am wrong. The basic salary we have taken is Rs. 10,650/-.
HRA Calculation
Then after basic, HRA is supposed to be 40% or 50% of Basic, depending upon the city criteria, whether it is a metro or non-metro. Alternatively, we can also put the remaining amount in the HRA if it is below 40%.
Bonus Component
Now, we also have a bonus component in the monthly gross salary and not in CTC. So, what should I prioritize? Should I ensure HRA is fulfilled with the remaining amount or focus on the Bonus?
Please revert to this situation along with the authentication proof.
Salary Structure Scenario
If an employee's salary is Rs. 11,500/- Gross, then his basic salary would be either 50% of the Gross or whatever the minimum wages are. Correct me here if I am wrong. The basic salary we have taken is Rs. 10,650/-.
HRA Calculation
Then after basic, HRA is supposed to be 40% or 50% of Basic, depending upon the city criteria, whether it is a metro or non-metro. Alternatively, we can also put the remaining amount in the HRA if it is below 40%.
Bonus Component
Now, we also have a bonus component in the monthly gross salary and not in CTC. So, what should I prioritize? Should I ensure HRA is fulfilled with the remaining amount or focus on the Bonus?
Please revert to this situation along with the authentication proof.