Designing a Salary Structure
Please help me with designing a salary structure for my organization. I'm a little confused about the deductions from the salary. Please find attached the sheet with the structure I have designed. Also, please suggest if TDS deductions should be added, as I don't have any idea about taxation.
Regards,
Pratyasha.
From India, Delhi
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Please help me with designing a salary structure for my organization. I'm a little confused about the deductions from the salary. Please find attached the sheet with the structure I have designed. Also, please suggest if TDS deductions should be added, as I don't have any idea about taxation.
Regards,
Pratyasha.
From India, Delhi
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Hie Pratyasha, I think professional tax is missing to deduct apart from PF you should check that out.
From India, Ahmadabad
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33From India, Ahmadabad
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I was not aware that your organization is based in Delhi. Yeah, it's not applicable there. What kind of sector do you belong to? Is it a manufacturing setup or service industry? Have you included the bonus and gratuity part in CTC?
From India, Ahmadabad
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From India, Ahmadabad
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Yes, Prateek. My mistake, I haven't written in my message. Ours is a financial service industry. Furthermore, we don't include the bonus and gratuity parts in CTC. Can you please also help me out with the deduction of TDS? Should it be there?
Best Regards,
Pratyasha.
From India, Delhi
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Best Regards,
Pratyasha.
From India, Delhi
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PFA the tax calculator for TDS working and your futher help. Regards, Rahul K
From India, Mumbai
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From India, Mumbai
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It seems you are more concerned about a proper salary structure. I have done some work on the sheet uploaded by you, and the same is attached. I hope this would be of help.
Regards,
Satheesh Kumar
From India, Delhi
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Regards,
Satheesh Kumar
From India, Delhi
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How to design a salary structure? e.g for salary 10,00,000/=per annum what % should be what? jimmii
From India, Delhi
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From India, Delhi
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First, try to keep your basic salary between 40% to 50% of the CTC to be offered. Maintain a standard for the basic salary. You have requested a salary breakup, but you have uploaded a salary slip breakup. Although both are not different, there are other components in the CTC that do not reflect in the salary slip. Also, TDS is compulsory only if the employee falls under the tax slab and has not provided any proof of investment. Therefore, we cannot show the same in the salary breakup. However, if tax is deducted, it needs to be reflected in the salary slip.
Regards,
Jeetendra
[Phone Number Removed For Privacy Reasons]
From India, Pune
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Regards,
Jeetendra
[Phone Number Removed For Privacy Reasons]
From India, Pune
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Thanks Jeetendra, I have taken basic as 45% of the Gross salary but not CTC. Shuc I change the same? I know 1 important part that I hv left id Employer contribution in PF i.e, Rs.780/- for our org.
From India, Delhi
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From India, Delhi
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Hi everyone, I am currently working in an NGO in Kolkata. My NGO runs two rural BPOs in Kolkata. As profits cannot be maximized under a Section 25 non-profit, the rural BPOs will shortly be converted into separate for-profit entities. My task is to design HR policies for the rural BPOs, which are known as MERIT centers. As I am not from HR and don't have any background in it, I am currently facing difficulties in designing the compensation structure, incentives, and benefits for the employees of the rural BPO. It would be really beneficial if I could get some inputs from the members of citehr.
Thanks and regards, Aarti.
From India, Mumbai
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Thanks and regards, Aarti.
From India, Mumbai
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Hi Members, I've been asked to design a salary structure. I am aware of the components of salary; however, I would like to know the maximum Basic, Dearness Allowance, Incentive/Bonus, Conveyance Allowance, HRA, Medical Allowance, LTA, Vehicle Allowance, and Telephone Mobile Allowance. I would like to know what rules are standard ones with maximum amounts in each category. For example, for a salary of Rs100,000 per annum, what percentage should be allocated to each component?
Regards,
Natasha
From India, Mumbai
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Regards,
Natasha
From India, Mumbai
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Creating a Competitive Salary Structure.doc
Compensation Structure.ppt