Hi Shweta,
I want to structure the salary in my company. Can you please suggest the actual salary structure under the head CTC? What should be the basic, and how should the other components be fixed? It's a bit urgent.
Thank you.
From India, Madras
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I want to structure the salary in my company. Can you please suggest the actual salary structure under the head CTC? What should be the basic, and how should the other components be fixed? It's a bit urgent.
Thank you.
From India, Madras
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hi shweta, well in our org.... we do like Basic+pf+esi+hra+convance+dress allow.+travelling allo. summation of these are the CTC Regards Divya
From India, Bangalore
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13From India, Bangalore
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Hi divya Thanksfor the suggestion .....Yes the same structure we want to use but there is fixed percentage of every thing in the gross salary ....do you know how to do that.... thanks shweta
From India, Madras
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From India, Madras
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Dear All, Can you Suggest me how to calculate the break up sheet in payrolle syastem. Warm Regards, MANIKSING
From India, Bangalore
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From India, Bangalore
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Hi,
This is the CTC bifurcation:
Basic: 50% of CTC
HRA: 50% of Basic (for Metro cities) or 40% for others
Conveyance: 800 per month
Medical allowance: Rs. 1250/-
PF: both the contributions (Employee, Employer)
Balance any other allowances or Performance bonus etc.
Regards,
Srinivas
From India, Hyderabad
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This is the CTC bifurcation:
Basic: 50% of CTC
HRA: 50% of Basic (for Metro cities) or 40% for others
Conveyance: 800 per month
Medical allowance: Rs. 1250/-
PF: both the contributions (Employee, Employer)
Balance any other allowances or Performance bonus etc.
Regards,
Srinivas
From India, Hyderabad
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Hi Shweta, sorry for the late reply. Today, I visited this site for the first time. I think you might have created the structure, but I still want to share mine.
THIS IS FOR ASST. MGRS.
We have a specific structure for determining our basic salary:
- 10% of Basic is HRA
- 10% of Basic is conveyance
- 5% of basic is dress allowance
- 1.75% ESI; now, the ceiling has changed to 10500 gross
- 24% PF; 12% employer contribution
Similarly, we have structures for managers, general managers, where the percentage of allowances varies based on the cadre.
Regarding TA/DA rules:
We have different rules for executive levels, managerial levels (AM, MGE, GM). For example:
- For executives in a local city, if they travel by bus/auto, the daily allowance is 100/- and lodging is 180/-
- For managers traveling by AC II tier/Taxi, the daily allowance is 200/- and lodging is 600/-
Regards,
Divya
From India, Bangalore
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THIS IS FOR ASST. MGRS.
We have a specific structure for determining our basic salary:
- 10% of Basic is HRA
- 10% of Basic is conveyance
- 5% of basic is dress allowance
- 1.75% ESI; now, the ceiling has changed to 10500 gross
- 24% PF; 12% employer contribution
Similarly, we have structures for managers, general managers, where the percentage of allowances varies based on the cadre.
Regarding TA/DA rules:
We have different rules for executive levels, managerial levels (AM, MGE, GM). For example:
- For executives in a local city, if they travel by bus/auto, the daily allowance is 100/- and lodging is 180/-
- For managers traveling by AC II tier/Taxi, the daily allowance is 200/- and lodging is 600/-
Regards,
Divya
From India, Bangalore
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Hi shrinivas... could u plz tell me is this a rule to have 50%of CTC as basic...and the other things which u have mentioned... plz also tell me abt professional tax if u have any idea...
From India, Bangalore
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From India, Bangalore
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Hi,
CTC structuring requires the breakup of CTC into two major components: BASIC and BOA (Basket of Allowances) and then drawing up the dependent components. In my company, this is what is implemented. I have explained it in 3 steps:
1. Basic (35% of CTC)
- HRA (40% of Basic)
- PF (12% of Basic) ** Some companies make PF to be 24% (Employer share gets included within CTC)
2. BOA (65%)
- Conveyance - 9600 PA (Fixed) / Vehicle Allowances
- Sudexo - 15000 PA
- Medical - 15000 PA
- LTA
- Education Allowances
The upper limit for the above FBT is fixed by the company with the company's auditors' concurrence.
3. With deductions like Prof. tax and IT
Hope this gives you a fair idea to define the CTC.
Regards,
Veena Jain
From India, Bangalore
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CTC structuring requires the breakup of CTC into two major components: BASIC and BOA (Basket of Allowances) and then drawing up the dependent components. In my company, this is what is implemented. I have explained it in 3 steps:
1. Basic (35% of CTC)
- HRA (40% of Basic)
- PF (12% of Basic) ** Some companies make PF to be 24% (Employer share gets included within CTC)
2. BOA (65%)
- Conveyance - 9600 PA (Fixed) / Vehicle Allowances
- Sudexo - 15000 PA
- Medical - 15000 PA
- LTA
- Education Allowances
The upper limit for the above FBT is fixed by the company with the company's auditors' concurrence.
3. With deductions like Prof. tax and IT
Hope this gives you a fair idea to define the CTC.
Regards,
Veena Jain
From India, Bangalore
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Dear members,
That was a neat summation by Veena. I would not like to disturb this but just to add up a few more things...
CTC break-up for an income of 1.2 Lakhs per annum can be done in this fashion:
Basic - 30% of CTC - 36000
HRA (40% of Basic) - 12% of CTC - 14400
LTA - consolidated - 15000
Medical Allowance - consolidated - 15000
Conveyance - consolidated - 9600
Sodexo pass - consolidated - 15000
Special allowance - 12.5% of CTC - 15000
Total - 120000
Note: For claiming tax deduction against Medical allowance, conveyance, and LTA, the employee needs to submit bills for the same amount.
Hope this gives you a better clarity. Let me know if you need any further clarity in this.
Warm Regards, Samba.
From India, Hyderabad
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That was a neat summation by Veena. I would not like to disturb this but just to add up a few more things...
CTC break-up for an income of 1.2 Lakhs per annum can be done in this fashion:
Basic - 30% of CTC - 36000
HRA (40% of Basic) - 12% of CTC - 14400
LTA - consolidated - 15000
Medical Allowance - consolidated - 15000
Conveyance - consolidated - 9600
Sodexo pass - consolidated - 15000
Special allowance - 12.5% of CTC - 15000
Total - 120000
Note: For claiming tax deduction against Medical allowance, conveyance, and LTA, the employee needs to submit bills for the same amount.
Hope this gives you a better clarity. Let me know if you need any further clarity in this.
Warm Regards, Samba.
From India, Hyderabad
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