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Human Resources » Compensation & Benefits


Chrm Message From: suraj2 Total Posts: 19 Join Date: 10/09/2009
Rank: Executive Post Date: 17/09/2009 10:12:38 Points: 95 Location: India

Dear All,

I have recently joined a company. Here what I found is that the Basic of all employee is very less, It's not even 10% of the CTC. Can any body help me out about the details how the pay structure should be. As per my knowledge the basic pay should be 50% of the CTC. Is this correct? Can anybody provide me the link or book name which provides me the legal aspect of Basic Pay.

Thanks in advance

Suraj

Chrm Message From: nehadj2004@yahoo.com Total Posts: 16 Join Date: 10/09/2009  
Rank: Executive Post Date: 21/06/2010 00:26:52 Points: 80 Location: India

Basic Pay in salary break up is 50 % of your Total monthly salary.

Regards

Neha

Asst Manager HR

 

 

 

Chrm Message From: D.komalalakshmi Total Posts: 1 Join Date: 10/09/2009  
Rank: Beginner Post Date: 06/07/2010 12:39:40 Points: 5 Location: India

Lakshmi,

Usually the Basic should  range in between 35% to 50%.Most of the companies try to show their CTC in hike but coming to the take home it is not even half of the CTC. they deploy these strategies to attract the candidates.

As per my knowledge is concerned basic is calculated on gross but not half of the CTC.

Hope this information will suffice your need.

Thanks & Regards,

Lakshmi

Student(M.H.R.M)

Chrm Message From: kiranvas Total Posts: 2 Join Date: 10/09/2009  
Rank: Beginner Post Date: 29/07/2010 07:19:40 Points: 10 Location: India

Hi ALL,


. EPF

 

12% on Basic + Wages + Stipend + Arrears

Condition:        If Basic salary at the Date of joining is above 6,500 then

It is optional to Employee for PF Deduction. Else

If Basic salary at the Date of joining is below 6,500 then

PF Deduction is compulsory

Companies Contribution: 12% on Basic + Wages + Stipend + Arrears

Chrm Message From: amittrada Total Posts: 1 Join Date: 10/09/2009  
Rank: Beginner Post Date: 10/08/2011 00:23:57 Points: 5 Location: India
Basic Pay

with follow law means Basic + VDA = Basic Pay

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