Dear all,
how to decide the salary breakup for employees, managers, etc.. Is there any laws regulations or own company policies or govt. norms to decide the salary breakup? anyone please help me with example templates or files etc.,
From India, Tirunelveli
how to decide the salary breakup for employees, managers, etc.. Is there any laws regulations or own company policies or govt. norms to decide the salary breakup? anyone please help me with example templates or files etc.,
From India, Tirunelveli
Dear psvkumaran,
There is no specific rule for the salary break-up. But, as per the Labour Law, the "Basic + DA" could not below "Minimum Wages Rate" as per state govt. specification. And in case of Higher Salary employees, the "Basic" salary should not below at least 40%, and the rest of 60% can be bifurcate into different salary heads.
Hope this will help you.
From India, Delhi
162There is no specific rule for the salary break-up. But, as per the Labour Law, the "Basic + DA" could not below "Minimum Wages Rate" as per state govt. specification. And in case of Higher Salary employees, the "Basic" salary should not below at least 40%, and the rest of 60% can be bifurcate into different salary heads.
Hope this will help you.
From India, Delhi
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Typical salary breakup.jpg
Salary breakup.xls
Salary Breakup Annexure.doc