Hi there, I've just got my increment in my organisation . The issue is that I don't find the structure of increment right.
As per the guide lines the Total increment was to be done on 12% hike but the final figures are not matching to it.
I have got my PF exempted hence I used to get my in hand salary as my gross salary and ctc as well.
Now when I'm trying to match the figures from my fellow employees .. I find that I have got a hike of 12%
whereas my fellow employees have got a net increment of 16% approx.
when enquired ... got an answer that this is because of my PF Exemption, as they have got increment in their PF Also.
Henceforth after an increment of 12% on CTC the PF is being applied. which makes it to 16% overall.
please help
From India, Delhi
As per the guide lines the Total increment was to be done on 12% hike but the final figures are not matching to it.
I have got my PF exempted hence I used to get my in hand salary as my gross salary and ctc as well.
Now when I'm trying to match the figures from my fellow employees .. I find that I have got a hike of 12%
whereas my fellow employees have got a net increment of 16% approx.
when enquired ... got an answer that this is because of my PF Exemption, as they have got increment in their PF Also.
Henceforth after an increment of 12% on CTC the PF is being applied. which makes it to 16% overall.
please help
From India, Delhi
Dear Shuiv, What do you mean by "I have got my PF exempted hence I used to get my in hand salary as my gross salary and ctc as well" Please give full details with figures. Why you are exempted from PF?
From India, New Delhi
606From India, New Delhi
Your company hr team is correct
The benefit of increase in of contribution of your colleagues is an additional benefit they company is giving
In most cases, hr would have given your colleagues less increment to make up the increased PF contribution, but they appeared to have decided instead to give them a benefit,
From India, Mumbai
The benefit of increase in of contribution of your colleagues is an additional benefit they company is giving
In most cases, hr would have given your colleagues less increment to make up the increased PF contribution, but they appeared to have decided instead to give them a benefit,
From India, Mumbai
@shree nath sai ram
Sir,
That means I had filled form 11 in order to get employee side of in my in hand salary .. following is the structure of increment took place ..
Others :
Last in hand: 23030
Last pf employer :1470
Last pf employee : 1470
Last gross: 24500
Last CTC : 25970
Increment: 12%
However current CTC became : 31001!
Gross : 29086
Mine:
In hand : 24500
Gross: 24500
CTC: 24500
Pf : nil
Increment : 12%
Current : 27440
Gross: 27440
Thanks
CTC: 27440
From India, Delhi
Sir,
That means I had filled form 11 in order to get employee side of in my in hand salary .. following is the structure of increment took place ..
Others :
Last in hand: 23030
Last pf employer :1470
Last pf employee : 1470
Last gross: 24500
Last CTC : 25970
Increment: 12%
However current CTC became : 31001!
Gross : 29086
Mine:
In hand : 24500
Gross: 24500
CTC: 24500
Pf : nil
Increment : 12%
Current : 27440
Gross: 27440
Thanks
CTC: 27440
From India, Delhi
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CTC Structure-1.pdf
CTC Structure.xls