Hi,
I am running a registered product-based startup in Gurgaon, and we are currently in the process of hiring a technical team. This team will include web developers, Android developers, and iOS developers, with experience levels ranging from 2 to 10 years. We are currently working on designing the compensation structure for these positions.
I am seeking information on the mandatory components of compensation that must be adhered to by all registered companies. Your guidance on this matter would be greatly appreciated.
Thank you.
From India, Gurgaon
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I am running a registered product-based startup in Gurgaon, and we are currently in the process of hiring a technical team. This team will include web developers, Android developers, and iOS developers, with experience levels ranging from 2 to 10 years. We are currently working on designing the compensation structure for these positions.
I am seeking information on the mandatory components of compensation that must be adhered to by all registered companies. Your guidance on this matter would be greatly appreciated.
Thank you.
From India, Gurgaon
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Hi Chopra,
Components differ based on salary. For example, if you are paying a lower salary, Basic and St. Bonus are sufficient. If you are providing an annual bonus, St. Bonus is not required to be a monthly salary component.
For a higher salary, break it down as mentioned below:
- Basic
- HRA
- Conveyance
- Work allowance
- Special allowance
- St. Bonus (applicable if the base is less than 10,000)
- Medical Reimbursement (if gross is more than 15,001)
I hope this breakdown helps clarify the salary components based on different salary ranges.
Please let me know if you need further assistance.
Thank you.
From India, Chennai
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6Components differ based on salary. For example, if you are paying a lower salary, Basic and St. Bonus are sufficient. If you are providing an annual bonus, St. Bonus is not required to be a monthly salary component.
For a higher salary, break it down as mentioned below:
- Basic
- HRA
- Conveyance
- Work allowance
- Special allowance
- St. Bonus (applicable if the base is less than 10,000)
- Medical Reimbursement (if gross is more than 15,001)
I hope this breakdown helps clarify the salary components based on different salary ranges.
Please let me know if you need further assistance.
Thank you.
From India, Chennai
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Compensation Structure.ppt
Salary & Compensation Guidelines.zip