how to formulate pay structure for employee.what variable needs to be considered.
From India, Mumbai
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1From India, Mumbai
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Hi Kunal, Pay structure is basic+da+HRA+(TA if marketing person or for them who travel) - Advances+ PF+Tax Warm regards Shraddha
From India, Mumbai
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From India, Mumbai
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Pay salary formulation is an internal part of the company and is decided by the internal management on how to structure the salary. Basically, in pay salary formulation, we include Basic + DA + HRA + Conveyance + allowances.
Basic Format for Pay Salary
The basic format for pay salary is calculated as follows: 40% Basic + 24% HRA + 8% Conveyance + 8% other allowances, totaling 100% Gross Salary.
From India, Gurgaon
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Basic Format for Pay Salary
The basic format for pay salary is calculated as follows: 40% Basic + 24% HRA + 8% Conveyance + 8% other allowances, totaling 100% Gross Salary.
From India, Gurgaon
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The pay should have 1st : 50% Fixed for attendance and discipline like daily reporting, daily planning etc., 2nd : +/- 50% linked with the organisation Goal.
From India, Mumbai
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From India, Mumbai
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Hi everyone is there any specific percentage mentioned (in any Indian Law)that X% of gross salary must in the form of Basic + DA and y% in the form of other allowances? Plz help
From India, Kolkata
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From India, Kolkata
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In our industry, the pay structure is negotiated by a central committee consisting of management's representatives and employees'/recognized union's representatives every five years. It is implemented as per the terms and conditions of the Memorandum of Settlement.
From India, Bokaro
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From India, Bokaro
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In companies where well-established unions exist, the salary structure is determined through a bilateral process. Basic salary, dearness allowance (DA), city compensatory allowance (CCA), house rent allowance (HRA), special allowances, and other allowances based on the nature of duties are components of the pay structure.
In other cases, the pay structure is set by management. Some companies offer a cost-to-company (CTC) package that includes the employer's provident fund (PF) and employee state insurance corporation (ESIC) contributions along with the gross salary.
From India, Mumbai
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In other cases, the pay structure is set by management. Some companies offer a cost-to-company (CTC) package that includes the employer's provident fund (PF) and employee state insurance corporation (ESIC) contributions along with the gross salary.
From India, Mumbai
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As per my knowledge, salary components are Basic + HRA + Conveyance + Medical Allowance + Other Allowance.
Salary Components Breakdown
1. **BASIC:** We calculate 40% to 60% from the gross salary.
2. **Conveyance:** May be Rs. 800 (Eight hundred is tax-exempted).
3. **Medical Allowance:** May be 10% of the Basic.
4. **Other Allowance:** The remaining amount we show as Other Allowance.
I hope this helps you.
Thanks,
Regards
From India, Hyderabad
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Salary Components Breakdown
1. **BASIC:** We calculate 40% to 60% from the gross salary.
2. **Conveyance:** May be Rs. 800 (Eight hundred is tax-exempted).
3. **Medical Allowance:** May be 10% of the Basic.
4. **Other Allowance:** The remaining amount we show as Other Allowance.
I hope this helps you.
Thanks,
Regards
From India, Hyderabad
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