Hai all i want to know the best salary structure or a salary bifurcation for manufacturing Pvt. Ltd. company. Please help me. Thanks and Regards, Charu Gupta
From India, Delhi
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From India, Delhi
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Hi Charu,
The components of the salary breakup may be as below. You can prepare it according to your suitability. HRA would be 40% or 50% of the basic salary.
Basic
HRA: 40% - 50% is exempted from taxes, depending on the city's classification
CCA - ₹825 is exempted from tax
Other Allowances
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 an employee who is not covered under ESI as the maximum ceiling for ESI is ₹10,000/month. If the amount exceeds this, it 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.
Hope this helps to clarify your queries to some extent.
Regards,
Amit Seth
From India, Ahmadabad
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508The components of the salary breakup may be as below. You can prepare it according to your suitability. HRA would be 40% or 50% of the basic salary.
Basic
HRA: 40% - 50% is exempted from taxes, depending on the city's classification
CCA - ₹825 is exempted from tax
Other Allowances
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 an employee who is not covered under ESI as the maximum ceiling for ESI is ₹10,000/month. If the amount exceeds this, it 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.
Hope this helps to clarify your queries to some extent.
Regards,
Amit Seth
From India, Ahmadabad
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