Hi Guys, Just for your reference, attached is a sample breakup of salary structures. You can modify it as per your company policies. Thanks
From India, Faridabad
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19From India, Faridabad
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I am attaching the Salary format below:
L1 L2 L3 For Employee For Company
Basic 35% of CTC 40% of CTC 50% of CTC Taxable Non FBT
HRA 65% of Basic 65% of Basic 65% of Basic Taxable / Non Taxable Non FBT
Medical 1250 1250 1250 Non Taxable Non FBT
Transport Allowance 800 800 800 Non Taxable Non FBT
Uniform Reimbursement 2000 1500 1000 Non Taxable Non FBT
Education Allowance 200 200 200 Non Taxable Non FBT
Petrol & Vehicle Maintenance 5000 3000 Nil Non Taxable FBT 7%
Laptop Rent 1500 1500 1500 Non Taxable Non FBT
Mobile 1200 800 600 Non Taxable FBT 7%
Leave Encashment 4.16% of Basic 4.16% of Basic 4.16% of Basic Taxable
Special Allowance Rest Of the Amount Rest Of the Amount Rest Of the Amount Taxable
Gross
Bonus 8.33% of Basic 8.33% of Basic 8.33% of Basic Taxable
ESIC Employer Contribution 4.75% of Gross 4.75% of Gross 4.75% of Gross
P.F Employer Contribution 13.5% of Basic 13.5% of Basic 13.5% of Basic Non Taxable
Gratuity 4.16% of Basic 4.16% of Basic 4.16% of Basic Non Taxable
CTC
Example: -
From India, Mumbai
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L1 L2 L3 For Employee For Company
Basic 35% of CTC 40% of CTC 50% of CTC Taxable Non FBT
HRA 65% of Basic 65% of Basic 65% of Basic Taxable / Non Taxable Non FBT
Medical 1250 1250 1250 Non Taxable Non FBT
Transport Allowance 800 800 800 Non Taxable Non FBT
Uniform Reimbursement 2000 1500 1000 Non Taxable Non FBT
Education Allowance 200 200 200 Non Taxable Non FBT
Petrol & Vehicle Maintenance 5000 3000 Nil Non Taxable FBT 7%
Laptop Rent 1500 1500 1500 Non Taxable Non FBT
Mobile 1200 800 600 Non Taxable FBT 7%
Leave Encashment 4.16% of Basic 4.16% of Basic 4.16% of Basic Taxable
Special Allowance Rest Of the Amount Rest Of the Amount Rest Of the Amount Taxable
Gross
Bonus 8.33% of Basic 8.33% of Basic 8.33% of Basic Taxable
ESIC Employer Contribution 4.75% of Gross 4.75% of Gross 4.75% of Gross
P.F Employer Contribution 13.5% of Basic 13.5% of Basic 13.5% of Basic Non Taxable
Gratuity 4.16% of Basic 4.16% of Basic 4.16% of Basic Non Taxable
CTC
Example: -
From India, Mumbai
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L1 L2 L3 For Employee For Company
Basic 35% of CTC 40% of CTC 50% of CTC Taxable Non FBT
HRA 65% of Basic 65% of Basic 65% of Basic Taxable/Non Taxable Non FBT
Medical 1250 1250 1250 Non Taxable Non FBT
Transport Allowance 800 800 800 Non Taxable Non FBT
Uniform Reimbursement 2000 1500 1000 Non Taxable Non FBT
Education Allowance 200 200 200 Non Taxable Non FBT
Petrol & Vehicle Maintenance 5000 3000 Nil Non Taxable FBT 7%
Laptop Rent 1500 1500 1500 Non Taxable Non FBT
Mobile 1200 800 600 Non Taxable FBT 7%
Leave Encashment 4.16% of Basic 4.16% of Basic 4.16% of Basic Taxable
Special Allowance Rest of the Amount Rest of the Amount Rest of the Amount Taxable
Gross Bonus 8.33% of Basic 8.33% of Basic 8.33% of Basic Taxable
ESIC Employer Contribution 4.75% of Gross 4.75% of Gross 4.75% of Gross
P.F Employer Contribution 13.5% of Basic 13.5% of Basic 13.5% of Basic Non Taxable
Gratuity 4.16% of Basic 4.16% of Basic 4.16% of Basic Non Taxable
CTC Example:-
Basic 17,500 10,000 6,550
HRA 11,375 6,500 1,000
Medical 1,250 1250 0
Transport Allowance 800 800 800
Uniform Reimbursement 2,000 1500 0
Education Allowance 200 200 0
Petrol & Vehicle Maintenance 5,000 3000 0
Laptop Rent 1,500 1500 0
Mobile 1,200 800 0
Leave Encashment 728 416 272
Special Allowance 3,727 -3,681 773
Gross 45,280 22,285 9,396
Bonus 1,458 833 546
ESIC
P.F 2,100 1,200 786
Gratuity 728 416 272
FBT 7% 434 266 0
CTC 50,000 25,000 11,000
From India, Mumbai
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Basic 35% of CTC 40% of CTC 50% of CTC Taxable Non FBT
HRA 65% of Basic 65% of Basic 65% of Basic Taxable/Non Taxable Non FBT
Medical 1250 1250 1250 Non Taxable Non FBT
Transport Allowance 800 800 800 Non Taxable Non FBT
Uniform Reimbursement 2000 1500 1000 Non Taxable Non FBT
Education Allowance 200 200 200 Non Taxable Non FBT
Petrol & Vehicle Maintenance 5000 3000 Nil Non Taxable FBT 7%
Laptop Rent 1500 1500 1500 Non Taxable Non FBT
Mobile 1200 800 600 Non Taxable FBT 7%
Leave Encashment 4.16% of Basic 4.16% of Basic 4.16% of Basic Taxable
Special Allowance Rest of the Amount Rest of the Amount Rest of the Amount Taxable
Gross Bonus 8.33% of Basic 8.33% of Basic 8.33% of Basic Taxable
ESIC Employer Contribution 4.75% of Gross 4.75% of Gross 4.75% of Gross
P.F Employer Contribution 13.5% of Basic 13.5% of Basic 13.5% of Basic Non Taxable
Gratuity 4.16% of Basic 4.16% of Basic 4.16% of Basic Non Taxable
CTC Example:-
Basic 17,500 10,000 6,550
HRA 11,375 6,500 1,000
Medical 1,250 1250 0
Transport Allowance 800 800 800
Uniform Reimbursement 2,000 1500 0
Education Allowance 200 200 0
Petrol & Vehicle Maintenance 5,000 3000 0
Laptop Rent 1,500 1500 0
Mobile 1,200 800 0
Leave Encashment 728 416 272
Special Allowance 3,727 -3,681 773
Gross 45,280 22,285 9,396
Bonus 1,458 833 546
ESIC
P.F 2,100 1,200 786
Gratuity 728 416 272
FBT 7% 434 266 0
CTC 50,000 25,000 11,000
From India, Mumbai
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Dear Senior,
Presently working in the Oil and Gas Industry, I am seeking detailed information on the following:
- Who (which grade of employees) are eligible for Overtime payment.
- Who (which grade of employees) are eligible for Incentives.
As per my knowledge, employees who are eligible for Incentives are not eligible for OT Pay, and vice versa.
- Please provide me with the OT Payment structure as per the statutory norms and general practice in the industry.
- Incentive plan calculation and general practice in the industry.
Thank you.
From Netherlands
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Presently working in the Oil and Gas Industry, I am seeking detailed information on the following:
- Who (which grade of employees) are eligible for Overtime payment.
- Who (which grade of employees) are eligible for Incentives.
As per my knowledge, employees who are eligible for Incentives are not eligible for OT Pay, and vice versa.
- Please provide me with the OT Payment structure as per the statutory norms and general practice in the industry.
- Incentive plan calculation and general practice in the industry.
Thank you.
From Netherlands
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Dear Vaishali,
Anyone below managerial level is eligible for overtime; however, it depends on the company policies. Major companies provide overtime up to clerical staff.
Regarding incentives, it also depends on the company policy. Moreover, incentives are given to everyone based on performance.
As I am from the consulting industry, you can reach me at gopal.krishna@mcsl.co.in.
Regards,
Gopal
From India, Madras
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Anyone below managerial level is eligible for overtime; however, it depends on the company policies. Major companies provide overtime up to clerical staff.
Regarding incentives, it also depends on the company policy. Moreover, incentives are given to everyone based on performance.
As I am from the consulting industry, you can reach me at gopal.krishna@mcsl.co.in.
Regards,
Gopal
From India, Madras
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Hi,
Can I get information on if a person goes onsite to another country for 6 months and works in India for the other 6 months, what would be the tax effect in terms of exemption and so on?
Regards,
Gopal
From India, Madras
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Can I get information on if a person goes onsite to another country for 6 months and works in India for the other 6 months, what would be the tax effect in terms of exemption and so on?
Regards,
Gopal
From India, Madras
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My name is Jaishree Nair, and I work as an HR Manager in a Mall. I have 13 years of work experience in HR. I completed my post-graduation in HR & IR 12 years ago, and I believe that there have been significant changes in the HRM field since then. I am interested in refreshing my skills in HR and would appreciate your suggestions on suitable courses or institutes that offer correspondence courses in HRM.
Thank you.
Jaishree
From India, Jabalpur
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Thank you.
Jaishree
From India, Jabalpur
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