SALARY COMPONENTS:

• BASE / WAGE

• Dearness Allowance

• Special Allowance

• Fee/Commission/Incentives

• Profit in lieu of salary

• Leave Encashment

• Pension

• Annuity

• Gratuity

Allowance/ Reimbursement:

• Transport allowance

• House rent

• Medical allowance

• Medical reimbursement

• Education allowance

• Hostel allowance

• Leave travel allowance

• Hardship allowance

• Food allowance

• Night shift allowance

Fringe Benefits:

• Entertainment

• Employee welfare
 • Telephone

• Health club

• Gifts

• Scholarship

• Festival celebrations

• Maintenance of guest lecture

• Sales promotion , publicity

• Tour travel expense

• Maintenance of vehicles

• Meal pass- sudexo

Perquisite:

• Rent free accommodation

• Car/Bike/Laptop/Mobile

• Interest concessional Loan

• Chauffer

Deduction:

• Premium of Medi-claim policy

• LIC

• PPF

• PF

• ELSS/ULIP

• NSC

• Infrastructure Bonds
 • Principle amount of Housing Loan

• Tuition fee for children

• Pension Fund

Other Investment Options

• Mutual Funds

• Initial Public Offer

BENEFIT OPTIONS:

Legally Required Benefits:

• Worker compensation

• Social security

• Unemployment insurance

• Family and Medical leave

• Consolidated Omnibus Budge Regulated Act (COBRA)

• Health Insurance Portability and Accountability Act (HIPAA)

Retirement savings:

• Defined Benefits plan

• Defined Contribution Plan

• Individual Retirement Account (IRA)

• Employee retired income security (ERISA)

Life Insurance:

Medical Benefits:

• General Health Care

• Dental Insurance

• Vision Care
 • Short- Long term Disability

• Health Care cost control strategy

Miscellaneous:

• Paid Time off

• Payment for time Not worked

• Child care

• Elder care

Pay for performance:

Short:

• Merit pay

• Lump sum Bonus

• Individual spot award

• Individual incentive plan

Long:

• Employee stock option plan

• Performance plan

• Broad Based Option Plan

Team Incentives:

• Profit sharing

• Gain sharing

• Team compensation

Benefits out of CTC:

• Personal Accident Insurance

• Medical Insurance—who all are covered

 • Maternity Benefits

Leave & Holidays:

• Medical leave

• Casual leave

• Study leave

• Sabbatical leave

• Maternity leave

• Earned leave

• Paternity leave

• Religious holidays

• National holidays

• Vacation

• Double the pay for working on holidays.

Esteem Status:

• Promotion

• Internal job posting

• Transfer to different zone

• Internal award & reward (recognition)

Bonus:

• Employee referral bonus

• Festival Bonus

Income from other source:

IT Returns:

Taxable Slab: