Seeking Advice: How Can We Enhance Tax Savings in CTC for Senior Management Beyond Basics?

Hello seniors,

I am working as a regional HR for a subsidiary of a US Fortune 1000 company in Mumbai. Can someone shed some light on the various tax-saving components that can be incorporated into the CTC structure, especially for senior management? It should be apart from the regular HRA, LTA, meal coupons, and transport as all of these are already part of our current structure.

It would be great if someone could provide details on vehicle maintenance or petrol reimbursement within the structure.

Appreciate your support :)
Yogesh

Hi,

You can bifurcate their salary into variable pays. This means if you want to provide them with tax benefits, you can make a portion of their salary target-based.

Regards,
Bhagwan

Hello,

I am sorry to know that members have at times overlooked certain queries put across by other members.

I am not very much into compensation and benefits, but I have effectively launched a 401k plan in my company for the senior members of the company. I found it to be very effective and it has brought lots of respite to a lot of senior members in regards to taxes.

A 401k plan can be located by a simple search on Google.

Thank you,
Octavious