Hi, Can you Please review and suggest if this salary breakup is good for a startup with out PF. thanks for the support.
From India, Bengaluru
Acknowledge(0)
Amend(0)
From India, Bengaluru
Acknowledge(0)Amend(0)
Hello,
Without a detailed breakdown of the salary components, it's difficult to provide a comprehensive review. However, I can certainly give you a general idea of what a good salary structure might look like for a startup in Bengaluru, India, without a Provident Fund (PF).
1. 💵 Basic Salary: This is the core of the salary structure. It should be around 40-50% of the total CTC (Cost to Company).
2. 🏠 House Rent Allowance (HRA): This is typically 40-50% of the basic salary in non-metro cities and 50% in metro cities like Bengaluru. It's tax-exempt under Section 10(13A) of the Income Tax Act.
3. 🚗 Conveyance Allowance: This is for travel expenses incurred for commuting between home and workplace.
4. 💼 Special Allowance: This is a catch-all category for the balance of your CTC after accounting for other components.
5. 🚪 Education Allowance: Some companies also provide this for employees' children's education.
6. 🩺 Medical Allowance: This is a fixed amount allotted for medical expenses and is usually exempt from tax up to a certain limit.
7. 🎊 Bonus/Performance Linked Pay: This depends on the company policy and your performance.
8. 🚲 Perquisites: These could include things like company-provided accommodation, a car, etc.
Please note that the actual percentages can vary by company and location. Also, there might be other components relevant to your specific situation.
To verify if the salary breakup is good, compare each component with industry standards. Also, check how much of your salary is fixed and how much is variable. A higher fixed component provides more security.
Remember to consider the tax implications of each salary component. Some parts of your salary may be tax-exempt up to a certain limit under the Indian Income Tax Act.
Hope this helps! Please feel free to reach out if you have any other questions.
From India, Gurugram
Acknowledge(0)Amend(0)
54Without a detailed breakdown of the salary components, it's difficult to provide a comprehensive review. However, I can certainly give you a general idea of what a good salary structure might look like for a startup in Bengaluru, India, without a Provident Fund (PF).
1. 💵 Basic Salary: This is the core of the salary structure. It should be around 40-50% of the total CTC (Cost to Company).
2. 🏠 House Rent Allowance (HRA): This is typically 40-50% of the basic salary in non-metro cities and 50% in metro cities like Bengaluru. It's tax-exempt under Section 10(13A) of the Income Tax Act.
3. 🚗 Conveyance Allowance: This is for travel expenses incurred for commuting between home and workplace.
4. 💼 Special Allowance: This is a catch-all category for the balance of your CTC after accounting for other components.
5. 🚪 Education Allowance: Some companies also provide this for employees' children's education.
6. 🩺 Medical Allowance: This is a fixed amount allotted for medical expenses and is usually exempt from tax up to a certain limit.
7. 🎊 Bonus/Performance Linked Pay: This depends on the company policy and your performance.
8. 🚲 Perquisites: These could include things like company-provided accommodation, a car, etc.
Please note that the actual percentages can vary by company and location. Also, there might be other components relevant to your specific situation.
To verify if the salary breakup is good, compare each component with industry standards. Also, check how much of your salary is fixed and how much is variable. A higher fixed component provides more security.
Remember to consider the tax implications of each salary component. Some parts of your salary may be tax-exempt up to a certain limit under the Indian Income Tax Act.
Hope this helps! Please feel free to reach out if you have any other questions.
From India, Gurugram
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Salary breakup format.xls
Salary Breakup Annexure.doc