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To divide a salary package, understand the components of the salary structure. Determine the amount of salary that falls into each category. The salary structure typically includes basic salary, allowances, and other indirect components. Gross salary is the sum of all components.

How to set an employee's salary Things to consider when setting salaries. ... Set an upper limit based on your ability to pay. ... Be competitive by benchmarking salaries. ... Are you willing to negotiate? ... Individual spot salaries or graded pay? ... Paying men and women equal salaries for equal work.

When you include your salary requirements in a cover letter, consider phrasing it as a salary range instead of an absolute number. You can say something like, ?My salary requirement is in the $50,000-60,000 range.? While this doesn't give the employer an exact figure, it gives them an idea of what you hope to earn.

For an employee with a CTC of ?15,00,000 per year, a typical salary structure may be as follows: CTC = gross salary + EPF + health insurance = ?12,11,200 + ?1,11,451.2 + ?177348.8 = ?15,00,000 per year. Basic = 40% of CTC amount = ?5,99,200 per year. DA = 55% of basis salary = ?3,29,560 per year.

Ideally, they use a reversed calculation method where a percentage of the salary and CTC is taken. The basic pay is usually 40% of gross income or 50% of an individual's CTC. Basic salary = Gross pay- total allowances (medical insurance, HRA, DA, conveyance, etc.)

CTC = gross salary + gratuity + PF or CTC = basic salary + benefits + PF. Gross salary = basic salary + house rent allowance + additional allowances. Net salary = gross salary?professional tax?public provident fund?income tax.

How is Salary Structure Determined? The level of education and the years of experience. The industry they belong to and the significance of the work being done. Location of the job and the cost of living in the city. The skill sets that the employee possesses and the demand for those skills.

Generally, a Total remuneration package is the total amount of compensation an employee will get from their employer for the work they perform, usually at least a salary and superannuation, but it can include other monetary and non-monetary benefits.