Dear professionals,
Could someone provide a breakdown for a monthly CTC of 21,000, taking into account the following factors:
1) Excluding employees from ESI benefits.
2) Including PF and Welfare contributions.
Please let me know if additional information is needed to provide a detailed breakdown.
From India, Kochi
9Could someone provide a breakdown for a monthly CTC of 21,000, taking into account the following factors:
1) Excluding employees from ESI benefits.
2) Including PF and Welfare contributions.
Please let me know if additional information is needed to provide a detailed breakdown.
From India, Kochi
What do you mean by CTC? is it the gross salary plus employer's contributions towards PF, (ESI), Bonus and gratuity? Then the gross salary would be much lower than Rs 21000. Then how can you exclude the employee from ESI? The only allowances which can be excluded for ESI are travelling allowance and washing allowance. The latter can be excluded only if you provide uniform to the employees. Then how can you exclude them from ESI?
From India, Kannur
From India, Kannur
In respect of such employees (employees in the salary brackets of less than 25000, say) it is always fine if you follow a pattern of salary structure as given in the minimum wages notification. It shall contain a basic salary and dearness allowance and the same can be used for future calculation of gratuity without any litigations.
From India, Kannur
From India, Kannur
Without minimum wages ctc breakup is not correct.
But i am giving you an example -
Basic-10500 (50% your CTC), Basic salary never be less than minimum wages.
HRA- 4200 (Basic*40% or 50%)
Medical- 1250
Conveyance- 1600
Other allowance-3450
Total-21000
From India, Mumbai
But i am giving you an example -
Basic-10500 (50% your CTC), Basic salary never be less than minimum wages.
HRA- 4200 (Basic*40% or 50%)
Medical- 1250
Conveyance- 1600
Other allowance-3450
Total-21000
From India, Mumbai
Hi Priya S Lakshmi,
To provide a detailed breakdown of a monthly Cost to Company (CTC) of 21,000, we'll consider the following components:
Basic Salary: This is the fixed component of the salary and is usually a significant part of the CTC. It forms the basis for other components like PF and Gratuity.
House Rent Allowance (HRA): If applicable, HRA is a portion of the salary paid to cover the cost of accommodation. It is usually a percentage of the basic salary.
Conveyance Allowance: This is an allowance provided to employees to cover their commuting expenses.
Special Allowance: This can include any additional allowances that are not covered by other categories.
Provident Fund (PF): Both the employer and employee contribute to the PF fund. The contribution is a percentage of the basic salary. Note that you mentioned including PF contributions in the CTC, so we'll need to calculate both the employer's and employee's contribution.
Welfare Contributions: This could include contributions towards employee welfare funds or schemes.
Since you've mentioned excluding employees from ESI benefits, we won't consider Employee State Insurance in this breakdown.
Now, let's break down the CTC of 21,000. Keep in mind that the actual amounts may vary depending on the company's policies and the individual's specific circumstances:
Basic Salary: This can vary, but let's assume 40% of the CTC, which would be 8,400.
HRA: This is usually around 40-50% of the basic salary, but can vary depending on the city. Let's assume 40%, which would be 3,360.
Conveyance Allowance: This is usually a smaller portion, around 800.
Special Allowance: The remaining portion of the CTC after accounting for the above components can be considered as the special allowance. In this case, it would be 8,440.
Provident Fund (PF):
Employee's Contribution: This is typically 12% of the basic salary. In this case, it would be 1,008.
Employer's Contribution: This is also typically 12% of the basic salary. So, it would be another 1,008.
Welfare Contributions: This can vary widely depending on the specific policies of the company. Without more information, it's hard to provide an exact figure.
Please note that these are rough estimates and actual numbers can vary based on company policies, location, and specific benefits provided. If you have specific percentages or policies from your company, you can use those for a more accurate breakdown.
Regards,
From India, Bangalore
To provide a detailed breakdown of a monthly Cost to Company (CTC) of 21,000, we'll consider the following components:
Basic Salary: This is the fixed component of the salary and is usually a significant part of the CTC. It forms the basis for other components like PF and Gratuity.
House Rent Allowance (HRA): If applicable, HRA is a portion of the salary paid to cover the cost of accommodation. It is usually a percentage of the basic salary.
Conveyance Allowance: This is an allowance provided to employees to cover their commuting expenses.
Special Allowance: This can include any additional allowances that are not covered by other categories.
Provident Fund (PF): Both the employer and employee contribute to the PF fund. The contribution is a percentage of the basic salary. Note that you mentioned including PF contributions in the CTC, so we'll need to calculate both the employer's and employee's contribution.
Welfare Contributions: This could include contributions towards employee welfare funds or schemes.
Since you've mentioned excluding employees from ESI benefits, we won't consider Employee State Insurance in this breakdown.
Now, let's break down the CTC of 21,000. Keep in mind that the actual amounts may vary depending on the company's policies and the individual's specific circumstances:
Basic Salary: This can vary, but let's assume 40% of the CTC, which would be 8,400.
HRA: This is usually around 40-50% of the basic salary, but can vary depending on the city. Let's assume 40%, which would be 3,360.
Conveyance Allowance: This is usually a smaller portion, around 800.
Special Allowance: The remaining portion of the CTC after accounting for the above components can be considered as the special allowance. In this case, it would be 8,440.
Provident Fund (PF):
Employee's Contribution: This is typically 12% of the basic salary. In this case, it would be 1,008.
Employer's Contribution: This is also typically 12% of the basic salary. So, it would be another 1,008.
Welfare Contributions: This can vary widely depending on the specific policies of the company. Without more information, it's hard to provide an exact figure.
Please note that these are rough estimates and actual numbers can vary based on company policies, location, and specific benefits provided. If you have specific percentages or policies from your company, you can use those for a more accurate breakdown.
Regards,
From India, Bangalore
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