Salary Structures in manufacturing
is there a rule that basic has to be not less than X% of CTC and are there similar rules for HRA, DA, Ccompany leased accomadation, Variable pay, Special allowance
Asked on 11/12/08, 7:03 am
2 Answers from Attorneys
Tapas Misra
INDUS LAW
Re: Salary Structures in manufacturing
There is no such rule. The employer may provide the salary in whatever combination it chooses to. However, the composition of basic salry and allowances has a bearing on taxability of certain allowances such as House Rent Allowance. Besides, a lower basic (and DA) results in a lower contribution by the employer to the Provident Fund.
Answered on 11/12/08, 7:29 am
Nasir Butt
Nasir Law Associates
Re: Salary Structures in manufacturing
View of Tapas Misra is 100% correct.
Answered on 11/12/08, 9:22 am
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