Dear Cite HR members,
I am trying to redesign the salary breakup. Please help me in creating a better salary structure (breakup) with percentages for employees working in a pharma manufacturing unit. Also, what should be the minimum basic salary?
Could you provide an example for a breakup, let's say for a Gross Salary of 30,000 per month, including statutory benefits like EPF, etc.?
Please help me. Awaiting your reply!
Thank you in advance.
Satish Renikunta
Email: rensat_2000@yahoo.com
From India, Hyderabad
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I am trying to redesign the salary breakup. Please help me in creating a better salary structure (breakup) with percentages for employees working in a pharma manufacturing unit. Also, what should be the minimum basic salary?
Could you provide an example for a breakup, let's say for a Gross Salary of 30,000 per month, including statutory benefits like EPF, etc.?
Please help me. Awaiting your reply!
Thank you in advance.
Satish Renikunta
Email: rensat_2000@yahoo.com
From India, Hyderabad
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To break up is fine, but I know about something that a few successful companies do. Why not think about fixing the gross pay and only a fixed basic pay, so that employees can decide what breakdown they want based on their knowledge of taxation.
I suggest this after observing a few such companies. Also, if I were an employee, I would be glad to see such a change where I can decide what I should receive and how.
For example, food allowance is deducted from tax up to a certain limit, and magazine allowance is deducted up to a certain limit. The limit varies based on the employee's salary range, so let them decide what they prefer.
For more information, if you are strictly looking for a salary breakdown, you may refer to "Tax on Salaries" by Muthuswami and Brinda, a small book that can be read in around 90 minutes.
Regards,
VINAY
From India
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7I suggest this after observing a few such companies. Also, if I were an employee, I would be glad to see such a change where I can decide what I should receive and how.
For example, food allowance is deducted from tax up to a certain limit, and magazine allowance is deducted up to a certain limit. The limit varies based on the employee's salary range, so let them decide what they prefer.
For more information, if you are strictly looking for a salary breakdown, you may refer to "Tax on Salaries" by Muthuswami and Brinda, a small book that can be read in around 90 minutes.
Regards,
VINAY
From India
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