i want to know for a salary 0f 2.5 lakhs how to bifurcate the salary structure for a pvt ltd company
From India, Mumbai
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1From India, Mumbai
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Dear Dominic,
You need to ensure that these basic components are part of the salary: Basic, HRA (50% of Basic), Conveyance, CCA, LTA, Education (200 pm), and Medical Allowance (1250 pm). Conveyance, if I am right, is 800 pm and exempt.
The rest shall be PF (12% on basic) and gratuity (5% on basic).
Regards,
Divya
From India
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You need to ensure that these basic components are part of the salary: Basic, HRA (50% of Basic), Conveyance, CCA, LTA, Education (200 pm), and Medical Allowance (1250 pm). Conveyance, if I am right, is 800 pm and exempt.
The rest shall be PF (12% on basic) and gratuity (5% on basic).
Regards,
Divya
From India
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Hi Dominic,
The contents of the salary breakup may be as follows. You can prepare it according to your own convenience. HRA should be 40 to 60% of the basic salary.
- Basic
- HRA
- TA
- Other Allowance
- Mobile Reimbursement per Month
- 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 is provided to employees who are not covered under ESI, as the maximum ceiling for ESI is 10,000/Month. Anything above 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 known as CTC.
I hope this information helps you in preparing the required details.
Regards,
Amit Seth
From India, Ahmadabad
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The contents of the salary breakup may be as follows. You can prepare it according to your own convenience. HRA should be 40 to 60% of the basic salary.
- Basic
- HRA
- TA
- Other Allowance
- Mobile Reimbursement per Month
- 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 is provided to employees who are not covered under ESI, as the maximum ceiling for ESI is 10,000/Month. Anything above 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 known as CTC.
I hope this information helps you in preparing the required details.
Regards,
Amit Seth
From India, Ahmadabad
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