Compensation PPt new

8/7/2019 Compensation PPt new

1/25

GRADE DESIGNATION

Executives M.D, C.O.O, President, Sr. V.P, V.P

M-10 Sr. General Manager

M-9 General Manager

M-8 Dy. General Manager

M-7 Sr. Manager

M-6 Manager

M-5 Dy. Manager

M-4 Asst. Manager

M-3 ExecutiveM-2 Sr. Officer

M-1 Officer

GET Graduate Engineer Trainee

Tr. Officers Trainee Officers

Compensation Policy

OBJECTIVE:

To provide for a uniform, stable and reasonably competitive compensation structure for all employees.

GRADES & DESIGNATIONS

To rationalise the compensation policy, positions are classified into grades. The grades and respective designations are as below:


2/25

BASIC SCALE

The basic scale would be as per the terms of employment and revisions from time to time.

Grade Designation Basic Pay StructureM-1 Officer 2000-125-2125-125-2250-125-2375-125-2500-125-2625-125-2750-125-2875-- -

M-2 Sr. Officer 3000-175-3175-175-3350-175-3525-175-3700-175-3875-175-4050-175-4225-- -

M-3 Executive 4000-225-4225-225-4450-225-4675-225-4900-225-5125-225-5350-225-5575-- -

M-4 Asst. Manager 5000-275-5550-275-5825-275-6100-275-6375-275-6650-275-6925-275-- -

M-5 Dy. Manager 6000-325-6325-6650-325-6975-325-7300-325-7625-325-7950-325- - -

M-6 Manager 9000-375-9375-375-9750-375-10125-375-10500-375-10875-375-11250- - -

M-7 Sr. Manager 11275-425-11700-425-12125-425-12550-425-12975-425-13400-- -

M-8 Dy. General Manager 15000-500-15500-500-16000-500-16500-500-17000-500-17500-- -

M-9 General Manager 17000-600-17600-600-18200-600-18800-600-19400-600-20000-600-- -

M-10 Sr. General Manager 24000-700-24700-700-25400-700-26100-700-26800-700-27500-- -


3/25

HOUSE RENT ALLOWANCE

Management Staff not provided with any type of Company Accommodation i.e either company owned or leased, will be paidHouse Rent Allowance at 40% of Basic Salary.

CONVEYANCE ALLOWANCE

Management staffnot provided with Company Carwill be paid conveyance allowance as follows:

Grades Allowance (Rs. per month)

M-1 to M-4 500

M-5 800

M-6 1500

M-7 2000

M-8 2500

M-9 to M-10 3000


4/25

Compensation Structure in


5/25

EDUCATION ALLOWANCE

Management Staff will be entitled to Education Allowance as follows:


M-1 to M-10 Rs.200/-

MEDICAL ALLOWANCE

Management staff will be paid Medical allowance @ 8.33% of Basic Salary per month.


6/25

y LEAVE TRAVEL ASSISTANCE

y Eligibility

y Management staff will be entitled to LTA on completion of one year of service subject to confirmation ofservices. However, pro-rata LTA will be paid at the time of F&F even if 1 year is not completed.

y LTA will be calculated on a calendar year basis (i.e. January to December every year.) and on pro-rata basis forthe part of the year.

y

y Quantum Of LTA

y The LTA will be paid at the rate ofone months Basic salary per year.

y For claiming LTA with Tax Deduction at Source

y No leave will be required for claiming LTA with tax deduction.

y An application to be made to HR Department for claiming LTA in the prescribed format.


7/25

y For claiming LTA to avail Income Tax Exemption

y A minimum of six days Leave should be availed for claiming

LTA.

y LTA should be claimed in the prescribed form.

y Approval of Leave must be attached at the time of claiming

LTA.

y Any two journeys (LTA) can be claimed for tax exemption in

a block of four years beginning from January 2002. LTA forself and family is admissible for tax exemption.


8/25

y Definition Of Block OfFour Years

y Under the present Income Tax Rules, a period of four calendaryears beginning from the Year 2002 to 2005 has been defined as ablock of four years during which you may avail LTA twice and availtax exemption.

y

y Definition Of A Family

y Family includes:

y The spouse and children of an individual; and

y The parents, brothers and sisters of an individual or any of them,wholly or mainly dependent on the individual


9/25

y Quantum Of Exemption Under The IT Act

y Quantum of Exemption The amount of LTA forself and familypermissible under the Income Tax Act for exemption is as follows:

y For journeys performed by Air: Economy fare of Indian Airlinesby the shortest route to the place of destination.

y For journeys performed by Rail:Airconditioned first class railfare by the shortest route to the place of destination.

y For journeys performed by Road: The amount equivalent to Airconditioned first class rail fare, for the distance of journey by theshortest route, as if the journey had been performed by rail.

y


10/25

Documents Required For Claiming Exemption

The following documents must be produced along with the prescribed LTA claim

form:

Mode of travel Documents

Rail Photocopies of railway tickets

Air Original Jacket of used tickets

Road By own vehicle: Petrol bills

By hired car:

y Bill of the Operator

y Proof indicating the places visited


11/25

y Advance For LTA

y An advance for LTA can be availed for booking tickets by making anapplication to HR Dept together with a copy of the approved leaveapplication. The advance will be paid up to70% of entitlement. Thebalance amount shall be paid on production of travel tickets withinseven days of completion of the journey, failing which the advance willbe recovered from the salary.

y

y Accumulation Of LTA

y Accumulation of unavailed LTA is allowed upto two years within theblock of four years specified under the Income Tax Rules. However,

the fourth years LTA cannot be carried forward to the next block foraccumulation purposes. The current block is for the period ofcalendar year 2002-2005.


12/25

TELEPHONE ALLOWANCE

Telephone Allowance will be paid as under:


M-1 200

M-2 300

M-3 400

M-4 500

M-5 600

M-6 800

M-7 1000

M-8 1200

M-9 to M-10 1500


13/25

SOFT FURNISHING ALLOWANCE

Soft Furnishing Allowance will be paid as under:


M-1 to M-2 200

M-3 400

M-4 to M-5 600

M-6 to M-7 800

M-8 to M-10 1000

BOOKS & PERIODICALS ALLOWANCE

Books & Periodicals Allowance will be paid as under:


M-1 to M-4 nil

M-5 200

M-6 400

M-7 600

M-8 800

M-9 to M-10 1000


14/25

DRIVER ALLOWANCE

Driver Allowance will be paid as under:


M-1 to M-7 nil

M-8 1500

M-9 to M-10 2000

PETROL ALLOWANCE

Petrol Allowance will be paid as under:


M-1 to M-7 nil

M-8 2500

M-9 to M-10 3000

EX-GRATIA

Management staff will be paid Ex-Gratia @ 8.33% of Basic Salary per month.


15/25


16/25

The compensation package comprises of monetary and non-monetary benefits that includes salary, special allowances, house

rent allowance, travel allowance, mobile allowance, employee stock

options, club memberships, accommodations, retirement benefits

and other benefits.

It may include a number of other benefits, including insurance,

employee discounts, extended leaves, and retirement programs.


17/25

Major Player in the Industry

Ranbaxy Laboratories

Dr. Reddy's Laboratories

Cipla

Nicolas Piramal India

Aurobindo Pharma GlaxoSmithKline

Lupin Laboratories

Sun Pharmaceutical Industries

Cadila Healthcare

Wockhardt


18/25

Salary Package for Junior Managers

DesignationDesignation A (BasicA (Basic

Salary)Salary)

BB

(Benefit(Benefit

s ands and

ReimbuReimbu

rsementrsement

s)s)

CC

(Performa(Performa

nce Pay)nce Pay)

D (RetiralD (Retiral

Benefits)Benefits)

E (ValuedE (Valued

PerquisitesPerquisites

))

AverageAverage

AnnualAnnual

CTCCTC

MinimumMinimum 1165511655 1177411774 10001000 19591959 00 316658316658

AverageAverage 2044320443 1992619926 51735173 36083608 16411641 609498609498

MaximumMaximum 1761617616 4050740507 97799779 29612961 1742017420 10593961059396


19/25

Salary Package for Middle Managers

DesignatiDesignati

onon

A (BasicA (Basic

Salary)Salary)

BB

(Benefits(Benefits

andand

ReimbursReimburs

ements)ements)

CC

(Performan(Performan

ce Pay)ce Pay)

DD

(Retiral(Retiral

Benefits)Benefits)

E (ValuedE (Valued

Perquisites)Perquisites)

AverageAverage

Annual CTCAnnual CTC

MinimumMinimum 2553025530 2436224362 33333333 81228122 1290212902 890988890988

AverageAverage 5673156731 8172981729 2288822888 1816018160 1475814758 23311732331173

MaximumMaximum 1360013600 164773164773 10661066 4326343263 2754927549 44718184471818


20/25

Salary Package for Senior Managers

DesignatiDesignati

onon

A (BasicA (Basic

Salary)Salary)

BB

(Benefits(Benefits

andand

ReimbursReimburs

ements)ements)

CC

(Perform(Perform

ance Pay)ance Pay)

D (RetiralD (Retiral

Benefits)Benefits)

E (ValuedE (Valued

PerquisitePerquisite

s)s)

AverageAverage

AnnualAnnual

CTCCTC

MinimumMinimum 6720067200 9089990899 2675026750 2137621376 2271822718 27473112747311

AverageAverage 147374147374 222854222854 6787467874 4688046880 3208532085 62048026204802

MaximuMaximu

mm

280000280000 453901453901 220000220000 8906889068 4166741667 1301563313015633


21/25

Salary Structure for MBA Trainee


22/25

Salary Structure after Confirmation


23/25

Compensation Structures in Major

Cities in India for fresher

Major CitiesMajor Cities Salary Packages Per AnnumSalary Packages Per Annum

(in Rs)(in Rs)

Mumbai 240000- 340000

Delhi 210000- 320000

Kolkata 160000 220000

Chennai 200000 - 310000

Bangalore 190000- 320000


24/25

Some facts & figures

28 %of all jobs in the pharmaceutical and medicine manufacturing industry are in

professional and related occupations, mostly scientists and science technicians

18 % are in management occupations

12 % are in office and administrative support

3 % in sales and related occupations

3 out of 10 jobs in the industry are in production occupations, including both

low-skilled and high-skilled jobs


25/25

Date post:	08-Apr-2018
Category:	Documents
Upload:	rijesh-raghunathan
View:	232 times
Download:	0 times