Need Info Regarding The Salary Break Up...

Hi Sundu,
The break-up for annual ctc is as follows:
Monthly Component
Basic
HRA (50% of basic in Delhi, Mumbai, Chennai and Kolkata and 40% in other cities)
City Compensatory allowance (30% of basic or any amount as desired)
Lunch Allowance: upto Rs 1500 is tax exempt
Conveyance : upto Rs 800 is tax exempt
Special Allowance: rest of the amount
PF Contribution
Annual Component
Medical Reimbursement (upto Rs 15000 is tax exempt)
Bonus (as declared)
Mediclaim/Personal accident policy premium
LTA (once in a block of two years)
Any other allowance
You can refer to the taxation part on this link:
http://www.incometaxindia.gov.in/pub...rom_salary.asp

Hi all
Well, the main thing to keep in mind is that tax will b calculated on Basic, HRA and Other Allowances while the other components like Medicals, Conveyances, Lunch Allowances (Sodexhos) etc would be non-taxable components.
Else, what Anu has given in the start is a very basic structure which is practised normally.
Normally, there are quite a few slabs of salary structures according to levels, grades etc etc.
Hope this helps,
Junaid

Hi Sujatha
Reimbursement is the one, will be paid against a 'Payment Voucher' on production of bill like telephone bill, fuel bill etc.
Whereas Allowance is the one, will be paid at a fixed lumpsum every month which form part of certain compensation or benefit package.
Regards
Suresh

hi all.
i read all the replies, but was surprised to see that nobody talked about the performance linked pay. this component of salary has become very useful in organizations as this emphasizes on performance.
thanx,
Ashwini Kumar

Hello Anu
U have helped alot but pls tell on what basis company fix its % of basic salary it is going to be 40% or %50%
Waiting for reply
Neha

HERE IS A SIMPLE GUIDELINE.

HEADHUNTING PROCESS

Headhunting is all about being proactive and reaching out to the best talent in the market.

By engaging with target individuals YOU are able to generate interest in an opportunity, gauge a person's motivation and aspirations and assess their suitability.

Typically YOU target 50-100 people from YOUR research. YOU use telephone screening, bespoke questionnaires and face to face interviewing to decide who should be presented on the shortlist. On average, YOU WILL deliver five qualified candidates per assignment.

Candidates are presented at shortlist with resumes/CVs and a Candidate Profile that provides further detail about their motivation, career path, personal circumstances and information against the key selection criteria for the position.

STEPS ARE

BRIEFING

Confidential discussions held with key client contacts, in order to obtain a clear understanding of the company, its objectives, the position and the characteristics of the person sought.

RESEARCHING

Potential candidates identified by utilising in-house research, database information and networking with informed individuals who can provide valuable, objective insights on people and relevant issues.

INTERVIEWING

Qualified candidates identified during the course of the search are interviewed and evaluated against the agreed profiles.

[includes psychom.tests/aptitude tests/reference checks etc]

FACILITATING AND COUNSELING

Client and candidates counselled throughout the interview process; close liaison with the preferred candidate to identify, articulate and effect a successful resolution of any issues arising during the offer process.

ENSURING INTEGRATION

Contact maintained with both client and candidate once the candidate has joined a client organisation to help ensure the candidate's successful integration into the new company.

REGARDS

LEO LINGHAM

Hi Sundu,

In simple terms, Head hunting is a process wherein you target some competitors of your company in the market and try to get people from those organizations to work in your present company. The actual word for Head hunting is Poaching but generally, it is not advisable to use this word. Hence generally the term head hunting is used. For example, in my previous company i had some requirement for Sales professionals who have good hands on experience in UPS sales. So I got the list of competitors of our organization in the market, gathered their telephone numbers and i gave them a call saying i need to speak to some marketing executive as I need to place some order for UPS for our business purpose. In this way, I was able to speak to some marketing guys and I could successfully place 2 such candidates in the organization. It is of course not necessary that every time you plan for a head hunt, you will get the candidates but it is one type of recruitment techniques used. One more thing is when you call to the company number, never speak to the required person over that number. Please take the mobile number of that particular person and then proceed further with your discussions regarding the job opening you have for that person.

If you need any more clarifications please feel free to get back to me.

Regards,

Sudha

Dear Leo & Sudha
Thankx for the response. Its indeed informative...
I'm working in IT company and i handle lots of req's too...
So, other than sourcing profiles from Job portals, i need some innovative methods to collect some quality resumes...
Thats why, i was asking about head hunting and other methods...
Can you pls help in that?
Thankx in advance.
Regards
Sundu

Hi,
I will give u some methods which i used to follow for the recruitment process in my previous organiztaions. They are job postings, head hunting, internal referral scheme, try to get some websites from yahoo groups or some other ones where in you can post your requirement free of cost. I used to do these things in my previous organizaions and they were quite helpful. Try to form you own personal network in the city which you work, which would be very helpful.
If you need any more help please feel free to get back to me.
Regards,
sudha

hi
Thanks for the information. Even I am working with one of the IT CO. please let me know the process of headhunting to place some qualitative, senior people to place in my co.
Please let me know in detail about headhunting process for placing Software developer, programmer who works on different technologies.
Vrushali
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