Hi , Can anyone help me in designing an CTC ( just Basic Figure) And also pls share the excel sheet in 2003 version. Regards, Avinash
From India, Bangalore
From India, Bangalore
Hello Avinash,
Please share atlist your thoughts so i can help you for the same.
* Share your establishment covered under factory act or Shop & Establishment act
* Share whether your company member of EPF,ESI,PT
* Share your company wants structure based on CTC OR Gross
* Share if CTC based structure than how many deduction your employer wants
* Share EPF deductions on 780 limit or 12% basic head
* Share Your company wants to follow Minimum wage act of respective states or not
Thanking you,
Regards,
Ashish
From India, Pune
175Please share atlist your thoughts so i can help you for the same.
* Share your establishment covered under factory act or Shop & Establishment act
* Share whether your company member of EPF,ESI,PT
* Share your company wants structure based on CTC OR Gross
* Share if CTC based structure than how many deduction your employer wants
* Share EPF deductions on 780 limit or 12% basic head
* Share Your company wants to follow Minimum wage act of respective states or not
Thanking you,
Regards,
Ashish
From India, Pune
Hi Ashish,
Thanks for your reply.
I belongs to a side were its completely statutory based things and i also want to improve my knowledge in Payroll which include CTC designing, some payroll related calculations, etc etc etc.
So i request you explain me with any basic figures so that i can understand it in an easier way.
Regards,
Avinash
From India, Bangalore
Thanks for your reply.
I belongs to a side were its completely statutory based things and i also want to improve my knowledge in Payroll which include CTC designing, some payroll related calculations, etc etc etc.
So i request you explain me with any basic figures so that i can understand it in an easier way.
Regards,
Avinash
From India, Bangalore
Dear Avinash.
To arrive to CTC, the basic components are : Pay & Allowances, Perks, Welfare amenities, Terminal benefits. BASIC pay is fixed for each level/grade, DA is based on % of Basic, other allowances are also defined which form part of Pay.
1. Perks % vary from industry to industry, Org. to Org. from 25% of Basic to 45.5 % of Basic at the maximum.
2. Welfare amenities include cost on free housing, water, electricity (free or subsidized), conveyance, LTC, Medical facilities, Leave with pay, etc.
3. Terminal benefits include - provision for Gratuity, Employer contribution on PF deduction, Pension or any other provision in the event of exit of an employee from the Organization / estb. by way of superannuation or resignation or termination of services on grounds other than moral turpitude/misconduct. Etc.
Taking into consideration all the above factors, you can arrive at CTC.
Best Wishes,
AK Jain
HR Personnel
NCL, CIL
From India, Jabalpur
To arrive to CTC, the basic components are : Pay & Allowances, Perks, Welfare amenities, Terminal benefits. BASIC pay is fixed for each level/grade, DA is based on % of Basic, other allowances are also defined which form part of Pay.
1. Perks % vary from industry to industry, Org. to Org. from 25% of Basic to 45.5 % of Basic at the maximum.
2. Welfare amenities include cost on free housing, water, electricity (free or subsidized), conveyance, LTC, Medical facilities, Leave with pay, etc.
3. Terminal benefits include - provision for Gratuity, Employer contribution on PF deduction, Pension or any other provision in the event of exit of an employee from the Organization / estb. by way of superannuation or resignation or termination of services on grounds other than moral turpitude/misconduct. Etc.
Taking into consideration all the above factors, you can arrive at CTC.
Best Wishes,
AK Jain
HR Personnel
NCL, CIL
From India, Jabalpur
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Creating a Competitive Salary Structure.doc
Salary Structure.zip