Dear sir,
It is very nice to be a member of this site; I am very happy about it. Recently, I have been offered a good opportunity in a multinational company with a CTC of Rs 35,000. It is a global operating organization and a mechanical-based company. They have mentioned that the breakup of the salary will be discussed with you, mutually agreed upon, and formally communicated to you upon joining the organization.
Now, I am totally confused about this issue. Please provide me with the best salary components for the CTC breakup that suits a mechanical-based organization.
Thank you,
Regards,
ANANTHARAMAN
From India, Madras
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It is very nice to be a member of this site; I am very happy about it. Recently, I have been offered a good opportunity in a multinational company with a CTC of Rs 35,000. It is a global operating organization and a mechanical-based company. They have mentioned that the breakup of the salary will be discussed with you, mutually agreed upon, and formally communicated to you upon joining the organization.
Now, I am totally confused about this issue. Please provide me with the best salary components for the CTC breakup that suits a mechanical-based organization.
Thank you,
Regards,
ANANTHARAMAN
From India, Madras
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Hi Anantharaman,
The best possible breakup can be as follows:
- Basic: 17500
- HRA: 10500
- Conveyance: 800
- Medical Allowance: 1250
- Other Allowances: 1950
- Telephone Allowance: 3000
Less Professional Tax: 200
Your take-home pay would be 34800 if the company doesn't have a private deduction fund.
Regards,
Ank
From India, Pune
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3The best possible breakup can be as follows:
- Basic: 17500
- HRA: 10500
- Conveyance: 800
- Medical Allowance: 1250
- Other Allowances: 1950
- Telephone Allowance: 3000
Less Professional Tax: 200
Your take-home pay would be 34800 if the company doesn't have a private deduction fund.
Regards,
Ank
From India, Pune
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Dear Ananth,
You may even consider this option as well.
Salary Head Amount Basic 14000 HRA 8400 CCA 800 Other Allowance 3550 Gross Per Month 26750 Books & Periodicals 1500 Medical Reimbursement 1250 Petrol Reimbursement 2500 Mobile Reimbursement 3000 Total Gross Per Month 35000
Hope this works for you.
Regards, Amit Seth.
From India, Ahmadabad
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You may even consider this option as well.
Salary Head Amount Basic 14000 HRA 8400 CCA 800 Other Allowance 3550 Gross Per Month 26750 Books & Periodicals 1500 Medical Reimbursement 1250 Petrol Reimbursement 2500 Mobile Reimbursement 3000 Total Gross Per Month 35000
Hope this works for you.
Regards, Amit Seth.
From India, Ahmadabad
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Hey please tell me how to calculate salary breakup? Any particular formula or procedure for this?
From Netherlands
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From Netherlands
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Hi,
The contents of the salary breakup are as follows. You can prepare it according to your suitability. HRA would be 50% or 60% of the basic salary.
- Basic
- HRA
- CCA - 825/- is exempted from tax
- Other Allowances
- Mobile Reimbursement
- Medical Reimbursement of 1250/month is exempted from tax
- Gross Per Month = Sum of all the above
- Gross Per Annum = 12 * Gross/Month
- PF Contribution = 12% of Basic/Annum
- ESI Contribution = 4.75% of Gross/Annum
- Medical = The mediclaim facility provided to employees not covered under ESI, as the maximum ceiling for ESI is 10000/Month. Anything above this will be covered under Mediclaim or as per company policy.
- Ex-Gratia/Bonus = A fixed bonus amount
- Annual Fixed Gross Cost = Gross/Annum + Ex-gratia
- Annual Total Cost = AFGC + PF + ESIC
- Annual total cost is also known as CTC.
In addition to the above, Food coupons, Holiday packages, and Furnishing items are included in their CTC.
I hope this has helped clarify your queries to some extent.
Regards,
Amit Seth
From India, Ahmadabad
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The contents of the salary breakup are as follows. You can prepare it according to your suitability. HRA would be 50% or 60% of the basic salary.
- Basic
- HRA
- CCA - 825/- is exempted from tax
- Other Allowances
- Mobile Reimbursement
- Medical Reimbursement of 1250/month is exempted from tax
- Gross Per Month = Sum of all the above
- Gross Per Annum = 12 * Gross/Month
- PF Contribution = 12% of Basic/Annum
- ESI Contribution = 4.75% of Gross/Annum
- Medical = The mediclaim facility provided to employees not covered under ESI, as the maximum ceiling for ESI is 10000/Month. Anything above this will be covered under Mediclaim or as per company policy.
- Ex-Gratia/Bonus = A fixed bonus amount
- Annual Fixed Gross Cost = Gross/Annum + Ex-gratia
- Annual Total Cost = AFGC + PF + ESIC
- Annual total cost is also known as CTC.
In addition to the above, Food coupons, Holiday packages, and Furnishing items are included in their CTC.
I hope this has helped clarify your queries to some extent.
Regards,
Amit Seth
From India, Ahmadabad
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Welcome, Isha. It is my pleasure to have helped you.
ESI is an Act that provides medical benefits as well as other benefits to covered employees. ESI contributions come from both the employee and the employer. It is calculated based on the gross salary per month, with a maximum ceiling of Rs. 10,000 per month.
The contributions from both sides are as follows:
- Employee Side: 1.75% of gross/month
For example, if an employee's gross salary is Rs. 8,000 per month, the ESI contribution would be Rs. 140.
- Employer Side: 4.75% of gross/month
For the same gross salary of Rs. 8,000 per month, the ESI contribution from the employer would be Rs. 380.
Regards,
Amit Seth.
From India, Ahmadabad
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ESI is an Act that provides medical benefits as well as other benefits to covered employees. ESI contributions come from both the employee and the employer. It is calculated based on the gross salary per month, with a maximum ceiling of Rs. 10,000 per month.
The contributions from both sides are as follows:
- Employee Side: 1.75% of gross/month
For example, if an employee's gross salary is Rs. 8,000 per month, the ESI contribution would be Rs. 140.
- Employer Side: 4.75% of gross/month
For the same gross salary of Rs. 8,000 per month, the ESI contribution from the employer would be Rs. 380.
Regards,
Amit Seth.
From India, Ahmadabad
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Salary breakup format.xls