At present I am working for a manufacturing company which had no HR.I am working under the guidance of HR consultant who is appointed by the company.
Please find the attached New CTC structure for Existing Staff. (Enter Gross Annual CTC amount to get the breakup)
This structure has been formed by the HR consultant.
I have following queries:
1. Is it right to divide yearly bonus into monthly bonus and include it in CTC?
2. According to this salary structure many employees PF amount will be more than 780. Is it right to deduct PF more than 780 or we require permission from employee in such a case.
3. Should LTA be included even for new employees?
From India, Mumbai
47Please find the attached New CTC structure for Existing Staff. (Enter Gross Annual CTC amount to get the breakup)
This structure has been formed by the HR consultant.
I have following queries:
1. Is it right to divide yearly bonus into monthly bonus and include it in CTC?
2. According to this salary structure many employees PF amount will be more than 780. Is it right to deduct PF more than 780 or we require permission from employee in such a case.
3. Should LTA be included even for new employees?
From India, Mumbai
Hello Mandy,
* Please ask your Consultant about limit of Education Allow/ Conveyance Allow. its limited for Max 200Rs and Max 800Rs in major companies
* Please use Medical Reimbursement term rather than Medical Allow. and limit for Medical Reim; per month max 1250Rs.
* Please ask your Consultant to Add some reimbursement components for higher salaried employee ( Tax Saving purpose ).
* Please ask about ESI Deduction
* Please ask that whether Minimum wage rule is implemented or not.; please follow Minimum wage as per respective states rate and Factory act rule; accordingly set your basic component
Regards,
Ashish
From India, Pune
* Please ask your Consultant about limit of Education Allow/ Conveyance Allow. its limited for Max 200Rs and Max 800Rs in major companies
* Please use Medical Reimbursement term rather than Medical Allow. and limit for Medical Reim; per month max 1250Rs.
* Please ask your Consultant to Add some reimbursement components for higher salaried employee ( Tax Saving purpose ).
* Please ask about ESI Deduction
* Please ask that whether Minimum wage rule is implemented or not.; please follow Minimum wage as per respective states rate and Factory act rule; accordingly set your basic component
Regards,
Ashish
From India, Pune
Dear Sir,
Your presentation about salary break up still needs modification. Emphasis is given for low rise
of liability to employer. If you offer flexi package, perhaps emplyees can have better option, but as an employer
one need to keep the basic at the lowest or rather restricted area.
Specimen file is attached.
V S Rane
From India, Mumbai
Your presentation about salary break up still needs modification. Emphasis is given for low rise
of liability to employer. If you offer flexi package, perhaps emplyees can have better option, but as an employer
one need to keep the basic at the lowest or rather restricted area.
Specimen file is attached.
V S Rane
From India, Mumbai
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CTC Structure-1.pdf
CTC Structure.xls