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Salary Formation: Basic HRA Allowances Tel. Expense Food All. Spl. All. Monthly Salary PF Bonus LTA Perks Gross Salary

This document outlines the components that make up an employee's total compensation package. The basic salary is 40% of the cost to company and allows for calculation of HRA at 35-40% of basic salary. Allowances are a varying percentage and expenses like telephone and food are fixed amounts set by the organization. The monthly salary is the sum of the basic and all additional components, while annual benefits include 12% of basic going to PF, 20% of basic as bonus, and 8.33% of basic to LTA. Perks and gross salary are calculated as the sum of monthly salary and annual benefits.

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Nikunj Savani
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35 views

Salary Formation: Basic HRA Allowances Tel. Expense Food All. Spl. All. Monthly Salary PF Bonus LTA Perks Gross Salary

This document outlines the components that make up an employee's total compensation package. The basic salary is 40% of the cost to company and allows for calculation of HRA at 35-40% of basic salary. Allowances are a varying percentage and expenses like telephone and food are fixed amounts set by the organization. The monthly salary is the sum of the basic and all additional components, while annual benefits include 12% of basic going to PF, 20% of basic as bonus, and 8.33% of basic to LTA. Perks and gross salary are calculated as the sum of monthly salary and annual benefits.

Uploaded by

Nikunj Savani
Copyright
© © All Rights Reserved
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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SALARY FORMATION

Basic 40% of CTC

HRA 35 - 40% of Basic

Allowances % Varies

Tel. Expense Fixed by organization

food all. Fixed by organization

Spl. All. Varies

Monthly Salary D4+D5+D6+D7+D8+D9

PF 12% of Basic

Bonus 20% of Basic

LTA 8.33% of Basic

Perks D11+D12+D13

Gross Salary D10+D14

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