Dear All,

I kindly invite your views and thoughts on "must have" and "may have" components of salary while streamlining salary components in an organisational salary structure. Also, what are the most important things one should keep in mind while working on the same.

Thanks

Sakshi

Hi Sakshi,

Though I felt the "must have" things to be common for many of us.

Basic+DA Professional Tax
HRA PF
CCA Income Tax
Others

I can share about the "may have" part of it.

.1. EPF (Employers contribution part though its the same). Interestingly, I would be happy to share an idea with it. I heard about an organisation (name witheld) where the employers & the employees contribution is the bare minimum i.e. Rs 900/-. There is a provision in PF called the VPF (Voluntary Provident Fund) contribution where employees can contribute the 12% of Basic + DA but the employers contribution still remains the same.

.2. Besides, the "OTHERS" mentioned above can include al the components like LTA, Medical Reimbursements etc

Hope that helps

Cheers

lion_king