Variable Pay Calculation Sheet
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I was working for an IT company, and nowhere in any of the policies does the company mention that the Variable Pay paid at the end of the year is based on Employee Performance. I refused to be a part of the Annual Appraisal Process as my manager was attacking me...
Good Evening Everyone,I'm Aditya, working as a Sales Officer in a Chennai-based paint company. My company is deducting some amount as variable pay from my salary every month. What is meant by variable pay? How does it affect the CTC? What is the general theory t...
Dear Sriaditya,Considering the living cost and all, Wage Revision is being done once in five years or ten years. But inflation will go up day by day, and subsequently, the money value will come down. To compensate for this, we have to wait until the next Wage Re...
Dear Aditya,Variable Pay is an allowance that is incorporated in the CTC sheet, and this amount is generally linked with your company's performance. There will not be a deduction every month from the salary as this is normally a yearly component and reflects in ...
Hi Everyone,I want to know that one of my employees has a salary package of 13 LPA (1 LPA variable pay), and I am working on breaking down his salary. So, do we calculate the basic pay (30%) on 13 LPA or on 12 LPA (after deducting the variable pay)?It would be a...
Dear Concern,If you are stating that you are offering a fixed salary of Rs12 LPA plus Rs1 LPA as variable pay, the salary breakup should only be done for the fixed salary, which means that the Basic should be calculated on 12 LPA. I hope this clarifies your conc...
In the case of a compensation package with a 50:50 ratio for fixed and variable components, should the variable component (such as commissions or bonuses) be included in the Cost to Company (CTC) calculation?Yes, you need to include the variable component in CTC...
I would recommend that you split into Fixed Pay and Variable pay.Work out the CTC component to the Fixed Pay and indicate to the employee that he/she will be getting variable pay based on his/her performance.To the agency that supports you in your recruitment pr...
CTC means Cost to Company. It shall include all costs of employing a person. If you have 50% of total remuneration as commission, incentives, etc., the same shall invariably be part of CTC. But the recruiters cannot take advantage of this variable part because i...
Dear HR Professionals,I have a couple of questions regarding the structuring of an offer letter for a Sales Manager position:1\. In the case of a compensation package with a 50:50 ratio for fixed and variable components, should the variable component (such as co...