Hello All,
I am Pawan Kumar. I have recently joined this site and an organization in HR Generalist profile. I don't have any idea what the basic components of a salary structure are, like PF, Gratuity, ESI, HRA, and Basic Salary.
If you can tell me how these components are calculated and what the formulas for doing so are, I will be glad to know.
Thanks and Regards,
Pawan Kumar
From India, Delhi
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I am Pawan Kumar. I have recently joined this site and an organization in HR Generalist profile. I don't have any idea what the basic components of a salary structure are, like PF, Gratuity, ESI, HRA, and Basic Salary.
If you can tell me how these components are calculated and what the formulas for doing so are, I will be glad to know.
Thanks and Regards,
Pawan Kumar
From India, Delhi
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Hi! Pls find attached the sheet this might help you a bit. I have got it from this site only Chitra
From India, Mumbai
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24From India, Mumbai
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Hi Chitr,
Thanks a lot for being the first person to help me out. If you could tell me more about PTAX, mentioned in the salary slip sent by you, I would really appreciate it.
Thanks & Regards,
Pawan Kumar
9873734548
From India, Delhi
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Thanks a lot for being the first person to help me out. If you could tell me more about PTAX, mentioned in the salary slip sent by you, I would really appreciate it.
Thanks & Regards,
Pawan Kumar
9873734548
From India, Delhi
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Hi! Pawan PTax is the professional Tax to be deducted depending on the state rules. Chitra
From India, Mumbai
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From India, Mumbai
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Hi Chitra, how are you doing?
I want to know what the specific rules are regarding statutory compliance, including PF, Gratuity, Basic, HRA, LTA, and other allowances. Are there any universal rules that apply to all companies, or do companies themselves decide the ratio of the various components?
Thank you.
From India, Delhi
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I want to know what the specific rules are regarding statutory compliance, including PF, Gratuity, Basic, HRA, LTA, and other allowances. Are there any universal rules that apply to all companies, or do companies themselves decide the ratio of the various components?
Thank you.
From India, Delhi
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Dear Chitra,
Thank you for the valuable posting. One thing, could you please confirm if the formulas you provided are in accordance with the rules and regulations? If so, could you specify the relevant acts and rules?
Thank you,
Tarun
tarunaindia@gmail.com
From India, Lucknow
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Thank you for the valuable posting. One thing, could you please confirm if the formulas you provided are in accordance with the rules and regulations? If so, could you specify the relevant acts and rules?
Thank you,
Tarun
tarunaindia@gmail.com
From India, Lucknow
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Hi Citra,
I am a student working on my project on compensation surveys. Could you please help me get started by sharing some information to guide my project? I would be very thankful for your assistance.
With Regards, Rajiv Kamal 9764140033
From India, Pune
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I am a student working on my project on compensation surveys. Could you please help me get started by sharing some information to guide my project? I would be very thankful for your assistance.
With Regards, Rajiv Kamal 9764140033
From India, Pune
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Hi! Pawan Please find attached the Labour Law with all the rules & regulations. This was posted by one of our citehr frnds only. Chitra
From India, Mumbai
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From India, Mumbai
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Hi, Tarun. Normally, what I use in my organization is basic = 50% of gross, HRA = 40% of basic, medical = 1250/-pm, travel allowance = 800/-pm, conveyance = 25% of basic, PF = 12% of basic (employer & employee), ESI = 1.75% employee & 4.75% employers, and bonus = 8.33% of basic minimum (maximum 20%). For the remaining components, it's as per your company's policy.
Chitra
From India, Mumbai
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Chitra
From India, Mumbai
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Salary & Compensation Guidelines.zip
Statutory Compliance of a Industrial or Commercial Unit.xls
Statutory-compl iance.pdf