CALCULATION OF SALARY
Name : NA
Department : Maths (IX,X)
TRAINING:
Emoluments During Training Period of Three Months
A. Basic Pay Rs. 42,300.00
B. HRA Rs. 21,150.00
C. Special Allowance Rs. 175.00
D. Employer's Contribution to EPF@12% of Basic Pay or 12% of Rs.15,000/- (Statutory minimum Rs. 1,800.00
wage ceiling, applicable as of now, under Employees' Provident Funds and Miscellaneous
Provisions Act, 1952), whichever is lower.
Gross Salary During Training Period Rs. 65,425.00 p.m.
E. Employer's Contribution# to Employees' Benevolent & Sincerity Amount @ 25% of Basic Pay Rs. 10,575.00 p.m.
Cost To Company during Training Period Rs. 76,000.00 p.m.
PROBATION:
Emoluments During Probation Period of Six Months
A. Basic Pay Rs. 43,700.00
B. HRA Rs. 21,850.00
C. Special Allowance Rs. 6,725.00
D. Employer's Contribution to EPF@12% of Basic Pay or 12% of Rs.15,000/- (Statutory minimum Rs. 1,800.00
wage ceiling, applicable as of now, under Employees' Provident Funds and Miscellaneous
Provisions Act, 1952), whichever is lower.
Gross Salary During Probation Period Rs. 74,075.00 p.m.
E. Employer's Contribution# to Employees' Benevolent & Sincerity Amount @ 25% of Basic Pay Rs. 10,925.00 p.m.
Cost To Company during Probation Period Rs. 85,000.00 p.m.
CONFIRMATION:
Scale : 25500-700-47200
Designation: Assistant Professor
1 Emoluments:
A. Basic Pay Rs. 43,700.00 p.m...a
HRA Rs. 21,850.00 p.m…b
Special Allowance/Flexi Basket## Rs. 17,488.00 p.m…c
Total receivables per month ( a + b + c) Rs. 83,038.00 p.m…d
B. Employer's Contribution to EPF@12% of Basic Pay or 12% of Rs.15,000/- (Statutory minimum Rs. 1,800.00 p.m…e
wage ceiling, applicable as of now, under Employees' Provident Funds and Miscellaneous
Provisions Act, 1952), whichever is lower.
Gross Salary p.a. ((d x 12) + (e x 12)) Rs. 1,018,056.00 p.a…f
2 Additional Annual Benefits (Conditional)** as applicable
A. Child.Edu.Allow. @ 10% of Basic Pay Rs. 4,370.00 p.m. Rs. 52,440.00 p.a.…g
B. Lease Rent @ 10% of Basic Pay Rs. 4,370.00 p.m. Rs. 52,440.00 p.a.…h
C. Gratuity*** Rs. 25,212.00 p.a.…i
D. Encashment of unavailed leave maximum upto 20 days Earned Leave Rs. 55,784.00 p.a.…j
E. Encashment of unavailed leave maximum upto 12 Casual Leave/2 Restricted Holidays Rs. 38,751.00 p.a.…k
Net Annual Benefits to Employee (f+g+h+i+j+k) [Maximum upto] Rs. 1,242,683.00 p.a….l
F. Employer's Contribution# to Employees' Benevolent & Sincerity Amount @ 30% of Basic Pay Rs. 13,110.00 p.m…m
Net Annual Cost To Company (l + m x 12) [Maximum upto] Rs. 1,400,003.00 p.a….n
Employees Stock Options (ESOPs)* Rs. 100,000.00 ….….o
Net Annual Cost To Company (CTC) + Employees Stock Options (ESOPs) (n + o) Rs. 1,500,003.00
However, based on your performance during Training & Probation, you may be eligible for higher salary as per 'Your
Growth Matrix'. And you also may be allotted more ESOPs* in due course of time based on your Contribution.
Note: 1. In addition, Group - Mediclaim, Accident Insurance and Term Life Insurance shall be as per rules.
2. *As per rules.
3. #Voluntary Contribution (Payable to Employees as per Service Terms & Conditions).
4. **Additional benefits are subject to change without notice.
5. ***Gratuity becomes payable once an employee completes five years of service and paid as follows:-
[((Monthly basic salary (at the time of leaving) / 26) x 15) x no. of years of service].
Final sum of Gratuity shall be payable as per the payment of Gratuity Act 1972.
6. In Special Allowance/Flexi Basket##, for tax benefits, you can submit original & genuine bills as per details
given below. The amount claimed by you shall be deducted from Special Allowance/Flexi Basket subject to
availability of amount in Special Allowance/Flexi Basket as per your salary structure.
-LTA Rs. 100000 p.a. Maximum upto
-Broadband Reimbursement Rs. 3000 p.m. Maximum upto
-NPS Rs. 10% of Basic pay p.m. Maximum upto
-Food Vouchers Rs. 2500 p.m. Maximum upto
