Dear Binsy,
As far as HRA, Conv, and special allowance are concerned, these are company-specific. So, you can't argue over these components, and hence, whatever your company is providing is acceptable. However, PF, ESI, and gratuity are not company-specific, and there are fixed rates to be followed. In the calculation you provided, the employer added 13.61% as PF in the CTC when it should be 12% because only 12% can be withdrawn by the employee. The remaining 1.61% comprises administrative charges and EDLIS contribution by the employer. Therefore, only 12% of basic and DA should be included when calculating CTC. The ESI calculation is accurate, but the gratuity calculation is incorrect as gratuity is calculated at 4.16% of basic and DA, while your employer is calculating it at 4.82%. The bonus calculation is correct. You need to request your employer to calculate gratuity at 4.16% and PF at 12% when determining the CTC.
The logic behind the 4.16% for gratuity is as follows:
Gratuity is payable only after 5 years or 60 months, with 15 days' salary paid for every completed year. This means that in 5 years, 2.5 months' salary is payable (only basic and DA), or in 60 months, 2.5 months' salary is payable. Now, calculate how much percentage 2.5 is of 60 as follows:
2.5 x 100 / 60
= 4.16
Hence, gratuity is payable at 4.16% of basic and DA.
Amit Goyal