I want to structurise the salary in my company...can u plz suggest me the actual salary structure under the head CTC....what should be the basic and how the other things should get fixed .....its a bit urgent
Shweta
From India, Madras
Shweta
From India, Madras
hi shweta, well in our org.... we do like Basic+pf+esi+hra+convance+dress allow.+travelling allo. summation of these are the CTC Regards Divya
From India, Bangalore
12From India, Bangalore
Hi divya Thanksfor the suggestion .....Yes the same structure we want to use but there is fixed percentage of every thing in the gross salary ....do you know how to do that.... thanks shweta
From India, Madras
From India, Madras
Dear All, Can you Suggest me how to calculate the break up sheet in payrolle syastem. Warm Regards, MANIKSING
From India, Bangalore
From India, Bangalore
Hi,
This is CTC bifurcation:
Basic : 50 % of CTC
HRA : 50 % of Basic ( for Metro cities) or 40 % for others
Conveyance : 800 per month
Medical allowance: Rs.1250/-
PF : both the contributions(Employee, Employer)
Balance any other allowances or Performance bonus etc.
Regards
Srinivas
From India, Hyderabad
This is CTC bifurcation:
Basic : 50 % of CTC
HRA : 50 % of Basic ( for Metro cities) or 40 % for others
Conveyance : 800 per month
Medical allowance: Rs.1250/-
PF : both the contributions(Employee, Employer)
Balance any other allowances or Performance bonus etc.
Regards
Srinivas
From India, Hyderabad
hi Shweta , sorry for a late reply ..
today only i visited this site...
i think u might have made the structure...but than too i m telling u mine....
**THIS IS FOR ASST. MGRS.
we have some structure as per that we decide our basic salary,
10% of Basic is HRA
10% of Basic is conveyance
5% of basic is dress allowance
1.75% ESI Now ceiling has changed it is 10500 gross
24% PF 12% employer contri
same way we have for mangers , general manager...
the % of allowance changes as per cadre.....
AS PER TA/DA RULE CONCERNED...
We have different rules for exe. level,managerial levels...(AM,MGE,GM)
like for exe...in local city if he is travelling from bus/auto ..than daily allowance 100/- and lodging is 180/-
for managers if they are travelling from ac II tire/ Taxi than Daily aloowance is 200 & lodging is 600...
Regards
Divya
From India, Bangalore
today only i visited this site...
i think u might have made the structure...but than too i m telling u mine....
**THIS IS FOR ASST. MGRS.
we have some structure as per that we decide our basic salary,
10% of Basic is HRA
10% of Basic is conveyance
5% of basic is dress allowance
1.75% ESI Now ceiling has changed it is 10500 gross
24% PF 12% employer contri
same way we have for mangers , general manager...
the % of allowance changes as per cadre.....
AS PER TA/DA RULE CONCERNED...
We have different rules for exe. level,managerial levels...(AM,MGE,GM)
like for exe...in local city if he is travelling from bus/auto ..than daily allowance 100/- and lodging is 180/-
for managers if they are travelling from ac II tire/ Taxi than Daily aloowance is 200 & lodging is 600...
Regards
Divya
From India, Bangalore
Hi shrinivas... could u plz tell me is this a rule to have 50%of CTC as basic...and the other things which u have mentioned... plz also tell me abt professional tax if u have any idea...
From India, Bangalore
From India, Bangalore
Hi
CTC structuring requies the break up on CTC into two major component BASIC and BOA( Basket of Allowances) and then draw up the dependent components.
In my Company this is what is implemented , have explained in 3 steps.
1.Basic (35% of CTC)
HRA (40% of Basic)
PF (12% of Basic) ** Some companies make PF to be 24% ( Employer share gets included within CTC)
2.BOA ( 65%)
Conveyance -9600 PA (Fixed) / Vehicle Allowances
Sudexo - 15000 PA
Medical - 15000 PA
LTA
Education Allowances
The upper limit for the above FBT are fixed up by the Company with Company's auditor's concen.
3.With deductions liket Prof. tax and IT
Hope this would give you a fair idea to define the CTC.
regards,
Veena Jain
From India, Bangalore
CTC structuring requies the break up on CTC into two major component BASIC and BOA( Basket of Allowances) and then draw up the dependent components.
In my Company this is what is implemented , have explained in 3 steps.
1.Basic (35% of CTC)
HRA (40% of Basic)
PF (12% of Basic) ** Some companies make PF to be 24% ( Employer share gets included within CTC)
2.BOA ( 65%)
Conveyance -9600 PA (Fixed) / Vehicle Allowances
Sudexo - 15000 PA
Medical - 15000 PA
LTA
Education Allowances
The upper limit for the above FBT are fixed up by the Company with Company's auditor's concen.
3.With deductions liket Prof. tax and IT
Hope this would give you a fair idea to define the CTC.
regards,
Veena Jain
From India, Bangalore
Dear members,
That was a neat summation by Veena. I would not like to disturb this but just to add up a few more things...
CTC break-up for an income of 1.2 Lakhs per annum can be done in this fashion:
Basic - 30% of CTC - 36000
HRA (40% of Basic)- 12% of CTC - 14400
LTA - consolidated - 15000
Medical Allowance - consolidated - 15000
Conveyance - consolidated - 9600
Sodexho pass - consolidated - 15000
Special allowance - 12.5% of CTC - 15000
Total - 120000
Note: For claiming tax deduction against Medical allowance, conveyance and LTA, the employee needs to submit bills for the same amount.
Hope this gives you a better clarity. Let me know if you need any further clarity in this.
Warm Regards,
Samba.
From India, Hyderabad
That was a neat summation by Veena. I would not like to disturb this but just to add up a few more things...
CTC break-up for an income of 1.2 Lakhs per annum can be done in this fashion:
Basic - 30% of CTC - 36000
HRA (40% of Basic)- 12% of CTC - 14400
LTA - consolidated - 15000
Medical Allowance - consolidated - 15000
Conveyance - consolidated - 9600
Sodexho pass - consolidated - 15000
Special allowance - 12.5% of CTC - 15000
Total - 120000
Note: For claiming tax deduction against Medical allowance, conveyance and LTA, the employee needs to submit bills for the same amount.
Hope this gives you a better clarity. Let me know if you need any further clarity in this.
Warm Regards,
Samba.
From India, Hyderabad
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