Asked for a base salary that is $50k more a year than I currently make + bonuses based on performance. Check your inbox or spam folder now to confirm your subscription. They offered me mere hike due to their brand. Well explained Manish. And receive Per Diam 5. POSTED BY Is it good to go Pune for that CTC. A bonus is usually awarded in Can you please go through the below mentioned details and let me know the net take home each month. You are going to get that 15000 per month with your salary. Clarity in Income Tax rebate on Company contribution if its included in CTC. Q2. Professional Tax. Copyright HarperCollins Publishers Definition of 'additional' additional (dnl ) Explore 'additional' in the dictionary allowances are part of the salary, however, are fully exempt from tax, which its all fixed component. It was never said or mentioned by HR at the point of negotiation. Will there be a End to all this is a Question to answer. Meal allowance. per informarci del problema. Join to apply for the REMOTE - Atlassian Administrator role at Ally Yes. The net salary of ICICI is Rs. Investing in Mutual Funds vs Direct Stocks Which is better option? Her stocks and options are not worth much if she cannot get the company to perform better, which would get the stick price to go up, thus making her a handsome profit! 5. my break up of salary is something like this:-, A: Basic Salary (Base Pay) Basic Salary ( Base Pay) 363,607, B : Non Basic Salary (Non Base Pay) can you explain your case ? Same goes for Persistent Systems as well :). ! In the earlier company every month the take home was different (to a small extend). I didnt get your comment Nish ? I fell for trick 2 while joining Accenture. New Ecomm manager Jobs in Kajang/Bangi/Serdang available today on JobStreet - Quality Candidates, Quality Employers The salary breakup for software engineer freshers at Wipro typically includes the following components: Q1. Professional tax Deduction Eligibility Criteria I think here one point is missed in using food coupons, i.e., if you try to buy a snack of Rs 18\- and you have paid a food coupon of Rs 20\- your not supposed to get a change of Rs 2\-. It would be helpful if I get to know about the benefits of both companies WBP is a component in your salary structure. Bonus / Ex-gratia 19,572 Does Wipro offer retirement benefits to its employees? Need suggestions!! Add the allowances to the basic salary and you arrive at the gross salary. Basic- 16,042 Accounting Project Type Work/Leave (Default) Field Instruction. Required fields are marked *. - Job safety (Wipro hardly fires anyone unless the person is really bad at their job, however, still it gives multiple chances to improve) - Home pick and drop via cab available from 7: . 19. On Fishbowl, you can share insights and advice anonymously with Wipro employees and get real answers from people on the inside. This amount is included in the CTC but is result as result there is deduction of 3600 from my gross. Some companies even charge Flight ticket, Visa Fee , Processing fee for visa, Initial Accommodation, Food, Laundry etc.. these are not included in Offer letter and there is no Directions available with any one. Additional Deduction Amount Field Instruction. Accounting ratios, an important sub-set of financial ratios, are a group of metrics used to measure the efficiency and Thank you for continuing to make Wipro . its cheat. Pls help ASAP. Conveyance Allowance is the amount an employer pays an employee to travel to and from work. excuses voor het ongemak. The nine crucial components of your In this way Company can Fool around on the Deduction and avoid paying the Tax. commonly known fully exempted allowances . Wipro Limited is a multinational corporation headquartered in Bangalore, India, that provides information technology, consulting, and business process services. But to get my variable payout I need to earn itLike Apr-Mar is the Cycle to earn the points, The Payout will happen twice-Apr and Oct, I will get my variable payout in the month of Oct only (the points earn from the month Apr-Sep15) There will be nothing for Dec-MarI am so disappointed with this way of calculation. MasterClass. Some Companies even consider Gratuity(Which is payable 5 years from the date of joining),Super Annuation, EL Encashments as part of their CTC,Which makes the ctc figure looks big.But it is very clearly mentioned as Cost to Company not as Cost to Individual so we should have to work at take home pay and decide accordingly.I dont find any fault with the Employers,It is our duty to study the CTC structure in complete. In my salary breakup v.p included. Also Professional tax is applicable who are not permanent employee and employed as Consultant who carry special skillset. You can learn about stock options, RSUs and ESPP here in this article. Gratuity (Companys contribution) 17,490 34,561. In Wipro, Gratuity is part of your CTC which is only paid after 5 years. Sir, the simple answer is the company will decide how they want to give HIKE. Variable pay should not be 0 in any case. Annual Gross Salary Break-up. Just because you are getting a higher package in some other company, does not automatically mean that your take home salary will increase by the same margin. CTC or cost to company is what a company spends on you. Actually my take home has decreased by 80 rs. If you continue to see this Employees may receive additional payments or allowances during hiring or location transfer or as per retention agreements. They also send a Court Notice if the person abscond the company and many people pay the Penalty amount to those companies How to stop this and whom to approach to get the company punished for such act. Which concludes that its mostly a honey trap ! 2. means while computing tax these are deducted from the salary. Apply for Sourcing Lead - Talent Acquisition - Urgent Hire at Wipro Philippines today! If you are a trainee you get stipend of Rs 15,100/-The deductions are : MBS Rs.5.00, MEDCLAIM Rs.250.0, and PT Rs.200.Your net pay will be Rs.14,645/-. We offer a total compensation package, performance bonus, 401 (k) with a company match, and so much more! Hi Manish, The Cost-to-Company or CTC is the The question asked by you is beyond our scope. Thats the reason why one has to ask for the in hand pay package ! It will increase your HRA component, Both your and employers PF contribution, Gratuity, LTA and Leave encashment. Another instance of this is; during campus recruitment in our college a 9.5 CTC and 11.8 CTC (diff of 2.3 = ~20,000 pm) ultimately had only 1500 per month take home difference , Its better to always ask (or at least confirm) for Gross Salary i.e. Your email address will not be published. I fell for the 1st point Employer contribution deducted from CTC very shocking when I received my first paycheck. Q4. It is totally irrelavant to me as an employee. Leave Travel Allowance (LTA) is a type of allowance which is provided by the employer to his employee who is travelling on leave from the work to cover his travel expenses. Always join once you get every confirmation on writing ! Upon successful completion of 3 weeks of training you will be given an opportunity to work directly as a BDA and will be offered a salary of 5 LPA. Thanks for sharing your detailed thoughts about this topic . What is Leave Travel Allowance (LTA)? But nothing was mentioned in the salary structure. and then finally calculate what is the real world hike you get an what is the real amount you have in your hand, Real Take home = Take home salary cost incurred because of relocation (like rent,transport etc. ONE-STOP RESOURCE FOR EVERYTHING RELATED TO CODING, We will send you an one time password on your mobile number, An OTP has been sent to your mobile number please verify it below. Though it sounds simple, many factors need to be kept in mind before planning the travel for the purpose of claiming LTA exemption. Its cumbersome to manage your wallet , the cards , money , coins and then coupons . Everything that you need to know about your offer letter including ctc, base salary, joining bonus, performance bonus, stocks, esops, insurance, gratuity, pf, perks, benefits, leaves, etc. I have never seen a company explaining at what grade they will include variable pay in over all CTC. It looks fine ! Telephone/Mobile Reimbursement (Payable half-yearly) 1,250 COMMENTS (187). questo messaggio, invia un'email all'indirizzo I need to know how to calculate Take home from Mindtrees compensation Structure. Bonus. Yes, Wipro may pay higher salaries to employees with advanced degrees, such as a Masters degree or a Ph.D. Q7. Thanks for sharing that . You cant compare CTC. 4. So starting from the air conditioning you use at office, to the food you eat at office, everything can be part of CTC. If got any opportunity there . I work with Hewlett-Packard. Yes this is there since long time. If Pension & Gratuity fund is included in CTC how its going to be settled. Thats why I felt bad and cheated. How I know my epf details please tell me. And the same goes with EPF as well the company is making contribution on your behalf. Really nice article for the someone like me who is new to this CTC world. an. I am still travelling on the same boat. I shifted from a company with over 1lac employees to a small company with 100 employees. Save the date and join us virtually. This includes your mobile bill, internet\broadband bill etc., if you can declare proofs for these then you can get tax exemption for Rs 15,000. Is there a ratio to set the Variables according to Total CTC or is it common %? This was because the company offering a CTC of 12 lacs had included an interest free loan of Rs 2.5 lacs. Here is the list of some of our best content. Also known as Leave Travel Concession, an employee can claim an exemption under section 10 (5) of the Income Tax Act, 1961, for expenses incurred for travelling when on leave anywhere in the country. And it should not be a matter of shame or reluctance for someone (usually a fresher) to ask such questions. Currently working as consultant with 10LPA, and new offer is for Senior Consultant and they informed it should be as per experience and salary slabs for the role. 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