1. Earnings:
- Basic Salary: The core salary component upon which other salary components are typically based.
- Allowances:
- House Rent Allowance (HRA)
- Dearness Allowance (DA)
- Travel Allowance (TA)
- Bonuses: Performance-based or festival-related payments.
- Overtime: Additional pay for hours worked beyond the regular schedule.
2. Deductions:
- Provident Fund (PF): A mandatory retirement savings scheme.
- Employee State Insurance (ESI): Health insurance for employees earning below a certain threshold.
- Professional Tax (PT): A state-level tax on professions, trades, and employment.
- Tax Deducted at Source (TDS): Income tax deducted from employees’ salaries before payment.
- Loan Deductions: Repayments for loans taken by employees, deducted directly from their salary.
3. Benefits:
- Leave Encashment: Payment for unutilized leave at the time of retirement or resignation.
- Medical Reimbursements: Compensation for medical expenses incurred by employees.
- Gratuity: A lump-sum payment to employees upon retirement or resignation, based on the length of service.
- Other Perquisites: Additional benefits like company cars, housing, meal coupons, etc.
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