Hi!
I wanted to know what kind of salaries are offered to the senior management in the case of a retail company. It would be great if someone could also tell me the break-up of the salaries.
I am listing down the designations for which I need the salary & other kinds of benefits offered by the retail companies (like Pantaloon, Shoppers Stop, Spencers, ABG-More, Reliance Retail).
Designations:
1. CEO/President
2. VP Operations
3. VP SCM
4. VP Buying & Sourcing
5. VP Marketing
6. VP IT
7. VP HR
8. Category Managers
9. Managers (Marketing, SCM, Operations, etc.)
10. Executives
11. Buyers
12. Visual Merchandiser
13. Merchandiser
Thanks,
Komal
From India, Mumbai
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2I wanted to know what kind of salaries are offered to the senior management in the case of a retail company. It would be great if someone could also tell me the break-up of the salaries.
I am listing down the designations for which I need the salary & other kinds of benefits offered by the retail companies (like Pantaloon, Shoppers Stop, Spencers, ABG-More, Reliance Retail).
Designations:
1. CEO/President
2. VP Operations
3. VP SCM
4. VP Buying & Sourcing
5. VP Marketing
6. VP IT
7. VP HR
8. Category Managers
9. Managers (Marketing, SCM, Operations, etc.)
10. Executives
11. Buyers
12. Visual Merchandiser
13. Merchandiser
Thanks,
Komal
From India, Mumbai
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Hi Komal,
The contents of the salary break-up are as below; you can prepare it at your own convenience. HRA would be 50% or 60% of the basic salary.
- Basic
- HRA
- CCA - 825/- is exempted from tax
- Other Allowance
- Mobile Reimbursement
- Medical Reimbursement of 1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum = 12 * Gross/Month
PF Contribution = 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to employees not covered under ESI, as the maximum ceiling for ESI is 10000/Month. Amounts exceeding this will be covered under Mediclaim or as per company policy.
Ex-Gratia/Bonus = A fixed amount as a Bonus
Annual Fixed Gross Cost = Gross/Annum + Ex-gratia
Annual Total Cost = AFGC + PF + ESIC
Annual total cost is also referred to as CTC.
In addition to the above, Food coupons, Holiday packages, and Furnishing items are included in their CTC.
I hope this information has helped clarify your queries to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
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The contents of the salary break-up are as below; you can prepare it at your own convenience. HRA would be 50% or 60% of the basic salary.
- Basic
- HRA
- CCA - 825/- is exempted from tax
- Other Allowance
- Mobile Reimbursement
- Medical Reimbursement of 1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum = 12 * Gross/Month
PF Contribution = 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to employees not covered under ESI, as the maximum ceiling for ESI is 10000/Month. Amounts exceeding this will be covered under Mediclaim or as per company policy.
Ex-Gratia/Bonus = A fixed amount as a Bonus
Annual Fixed Gross Cost = Gross/Annum + Ex-gratia
Annual Total Cost = AFGC + PF + ESIC
Annual total cost is also referred to as CTC.
In addition to the above, Food coupons, Holiday packages, and Furnishing items are included in their CTC.
I hope this information has helped clarify your queries to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
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Hi Amit,
Thank you for your inputs. I am looking for a breakdown of the salary of a senior person earning 1.5 crores. It is easier to determine the salary breakdown for junior-level employees. We are currently finalizing the compensation package for a retail company, which is a new start-up. However, we are unsure about the industry benchmarks for salaries across different levels.
Thank you,
Komal
From India, Mumbai
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Thank you for your inputs. I am looking for a breakdown of the salary of a senior person earning 1.5 crores. It is easier to determine the salary breakdown for junior-level employees. We are currently finalizing the compensation package for a retail company, which is a new start-up. However, we are unsure about the industry benchmarks for salaries across different levels.
Thank you,
Komal
From India, Mumbai
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