I joined a startup IT company with almost 10 employees. So there are no PF and other mandatory deductions, I hope.
Salary Structure for a Startup IT Company
How should I make the salary structure, and what should be its important components? Suppose the gross salary is Rs. 4,00,000 with a 1L annual bonus. What should be the breakup for the Bangalore location? Please help me.
Regards
From India, Calcutta
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1Salary Structure for a Startup IT Company
How should I make the salary structure, and what should be its important components? Suppose the gross salary is Rs. 4,00,000 with a 1L annual bonus. What should be the breakup for the Bangalore location? Please help me.
Regards
From India, Calcutta
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Hi Avantika I feel it is better to register for PF contribution. If need share me ur mail ID so that I shall share wage structure. :)
From India, Bangalore
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From India, Bangalore
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The following components are basically used by many IT companies:
1. Basic - 40% or 50%
2. HRA - 50% (Metro) 40% (Non-Metro)
3. Conveyance - ₹9,600 per annum
4. Medical Allowances - ₹15,000 per annum
5. Telephones & Internet - up to company standard
6. Food Coupon - Max ₹2,600 per month
7. Gratuity - 4.81% of Basic
8. Leave encashment
9. LTA - ₹35,000 per annum
Deductions:
- Profession Tax (As per State PT Slab)
- Salary Income Tax
I hope this will help you.
From India, Madras
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1. Basic - 40% or 50%
2. HRA - 50% (Metro) 40% (Non-Metro)
3. Conveyance - ₹9,600 per annum
4. Medical Allowances - ₹15,000 per annum
5. Telephones & Internet - up to company standard
6. Food Coupon - Max ₹2,600 per month
7. Gratuity - 4.81% of Basic
8. Leave encashment
9. LTA - ₹35,000 per annum
Deductions:
- Profession Tax (As per State PT Slab)
- Salary Income Tax
I hope this will help you.
From India, Madras
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Salary breakup format.xls
Salary & Compensation Guidelines.zip