Hi,
The salary components as per my salary slip are: Basic, Transport Allowance, Medical Allowance, and Education Allowance. Can you help me explain these components? Can I ask my company to add any other components in order to save tax?
It would be great if you could provide the standard salary structure for HR consultants.
Here is some information about my company and my role: I have been working for the past 20 months with a small ITES company as an HR Consultant. I manage HR processes for this company such as Recruitment and Selection, Training and Development, and Performance Management System. Additionally, I work for our clients as an offshore HR consultant on Leadership and OB-related projects. However, I lack sufficient knowledge of compensation management. Can you help me out?
I am seeking a job change and facing an issue explaining my salary structure. My company does not provide PF or gratuity as they believe consultants are not eligible for these benefits. Are they correct? Please advise.
Thank you in advance.
Shashank
From India
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1The salary components as per my salary slip are: Basic, Transport Allowance, Medical Allowance, and Education Allowance. Can you help me explain these components? Can I ask my company to add any other components in order to save tax?
It would be great if you could provide the standard salary structure for HR consultants.
Here is some information about my company and my role: I have been working for the past 20 months with a small ITES company as an HR Consultant. I manage HR processes for this company such as Recruitment and Selection, Training and Development, and Performance Management System. Additionally, I work for our clients as an offshore HR consultant on Leadership and OB-related projects. However, I lack sufficient knowledge of compensation management. Can you help me out?
I am seeking a job change and facing an issue explaining my salary structure. My company does not provide PF or gratuity as they believe consultants are not eligible for these benefits. Are they correct? Please advise.
Thank you in advance.
Shashank
From India
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Hi Shashank,
Each company follows different structures. Anyway, I'll give you the general format which we follow; it's really tax-saving.
Salary breakup:
Basic: 50% of gross salary
HRA: 40% of basic
CCA: 20% of gross salary
Conveyance: 10% of gross salary
Meal allowance: 20% of gross salary
Medical: 10% of gross salary
PF - Maximum contribution is 780;
You can tell your top management to include special allowances like uniform allowances, etc., also because they will not be considered for tax.
Regards,
Anu
From India, Bangalore
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Each company follows different structures. Anyway, I'll give you the general format which we follow; it's really tax-saving.
Salary breakup:
Basic: 50% of gross salary
HRA: 40% of basic
CCA: 20% of gross salary
Conveyance: 10% of gross salary
Meal allowance: 20% of gross salary
Medical: 10% of gross salary
PF - Maximum contribution is 780;
You can tell your top management to include special allowances like uniform allowances, etc., also because they will not be considered for tax.
Regards,
Anu
From India, Bangalore
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Hi Anu, Thanks for your quick reply. However, is it true that the salary structure for Consultants and normal employees is different? Warmly, Shashank
From India
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From India
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Creating a Competitive Salary Structure.doc
Compensation Structure.ppt