Hi all,
I have recently joined a company where I have been offered a CTC of 2.4Lac p.a. My last CTC with another employer was 2.4Lac p.a. and I was getting 18k in hand. So after much negotiation and discussion, my new employer got ready for CTC of 2.4 and assured me of getting 18k in hand but I am not sure of it after going through my salary structure in my offer letter. I have attached the same below for your reference, could someone please guide me if the salary structure provided is right?
Thanx for your time..
From India, Pune
1I have recently joined a company where I have been offered a CTC of 2.4Lac p.a. My last CTC with another employer was 2.4Lac p.a. and I was getting 18k in hand. So after much negotiation and discussion, my new employer got ready for CTC of 2.4 and assured me of getting 18k in hand but I am not sure of it after going through my salary structure in my offer letter. I have attached the same below for your reference, could someone please guide me if the salary structure provided is right?
Thanx for your time..
From India, Pune
i am not satisfied with such type of CTC because as per knowledge CTc divided as following
A- Fixed monthly salary ( which is known as salary also ) part are as given below-
Basic - 45% to 55% of CTC ( but must be equal or greater to minimum wages of the area)
HRA- 40% /50% of basic ( Depend on city)
Conveyance - 1600 fic ( As per IT rules for tax exemption )
Sp. All - Rest amount
Total Salary- ( Basic+HRA+ Conv.+ Sp. All.) may be known as salary
B- Company Contribution -
EPF- 12% of basic
ESIC- 4.75% of Total Salary ( if Total monthly salary is equal or less than Rs. 15000/- per month )
Gratuity- 4.81% of basic ( but can not be count in CTC because its a benefit which provide to employee after completion of 05 years., but if you are adding it monthly CTc then employee leave before 05 years is eligible for Gratuity amount.)
Bouns- ( as like Gratuity Bonus is also not count as part of CTC because it cannot be paid monthly. percentage of Bonus is decide after succeeding years benefit. but as per new rule you have to checked minimum wages or rs. 7000/- whichever is Higher. so amount of bonus cannot be decide.)
Total Company Contribution - (EPF+ESIC)
C- Monthly/Annual Reimbursement-
Medical Reimbursement - 1250/PM ( Monthly)
LTA- 8.33% of Basic (Annual)
Children Education Allowance - 100 per month ( Valid only for 02 Children)
Performance Incentive - ( Monthly/Annual)
Variable Pay - ( Annual )
Total CTC = (A+B+C)
From India, Rudarpur
A- Fixed monthly salary ( which is known as salary also ) part are as given below-
Basic - 45% to 55% of CTC ( but must be equal or greater to minimum wages of the area)
HRA- 40% /50% of basic ( Depend on city)
Conveyance - 1600 fic ( As per IT rules for tax exemption )
Sp. All - Rest amount
Total Salary- ( Basic+HRA+ Conv.+ Sp. All.) may be known as salary
B- Company Contribution -
EPF- 12% of basic
ESIC- 4.75% of Total Salary ( if Total monthly salary is equal or less than Rs. 15000/- per month )
Gratuity- 4.81% of basic ( but can not be count in CTC because its a benefit which provide to employee after completion of 05 years., but if you are adding it monthly CTc then employee leave before 05 years is eligible for Gratuity amount.)
Bouns- ( as like Gratuity Bonus is also not count as part of CTC because it cannot be paid monthly. percentage of Bonus is decide after succeeding years benefit. but as per new rule you have to checked minimum wages or rs. 7000/- whichever is Higher. so amount of bonus cannot be decide.)
Total Company Contribution - (EPF+ESIC)
C- Monthly/Annual Reimbursement-
Medical Reimbursement - 1250/PM ( Monthly)
LTA- 8.33% of Basic (Annual)
Children Education Allowance - 100 per month ( Valid only for 02 Children)
Performance Incentive - ( Monthly/Annual)
Variable Pay - ( Annual )
Total CTC = (A+B+C)
From India, Rudarpur
Dear Vipre,
What actual you expect from this forum by senior contributing members. If you are not happy with the offer you reject it and take your own decision. Learned members are not compelled to accept it. This forum will help to the members in case of any dispute or doubts or seeking advise on labour laws. Your case is entirely differ. Individual choices are differ from each other.
Adoni Suguresh
Labour Laws Consultant
From India, Bidar
What actual you expect from this forum by senior contributing members. If you are not happy with the offer you reject it and take your own decision. Learned members are not compelled to accept it. This forum will help to the members in case of any dispute or doubts or seeking advise on labour laws. Your case is entirely differ. Individual choices are differ from each other.
Adoni Suguresh
Labour Laws Consultant
From India, Bidar
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