COMPENSATION PLAN - FY24 - Pay Group III

The gross annual fixed compensation below is based on your employment for a twelve (12) month period and will be prora
depending on the effective start date of your employment.
Cells in yellow to be populated by the recruiter/candidate
Location Mumbai <--Please select your correct location here
Name
Emp Code
Level Level 12
Total Fixed Pay
Variable Pay %** (Min) 0%
(Indicative variable pay % range for the FY at
5% - 8%
your level)
Variable Pay %**
16.00%
(Max)
ESIC Eligibility Yes Submit copy of ESIC card/declaration form on DOJ
PoBA Eligibility Yes

Yearly Monthly
Basic Salary 42,000 3,500
House Rent Allowance 0 0
Reimbursements 0 0
Provident (Y-Yes/N-No/F-Fixed) Y 5,040 420
NPS Percentage 0 0
Adhoc Allowances 0 0
Meal Allowance 0
Breakup of Reimbursements :-
LTA 0 0
0
13,200 Miscellaneous Allowances 0 0
Total Fixed Pay 47,041 3,920

Explanation
Cells in yellow need to be populated.
Amounts should be entered by the employee
Reimbursements mentioned above are as per eligibility, employee has an option to
balance will be reallocated to Miscellaneous allowances.
Paid as Salary on monthly basis.
Provident Fund mentioned above refers to Company's Contribution to Provident Fu
- If the monthly Basic is =< 15000, then PF is mandatory;
- If the monthly Basic is > 15000, then you will have options of 'Yes', 'Fixed' & 'No' to
- If PF account already exists from previous employment, then options are 'Yes' & 'F
Reimbursements will be paid out based on amounts booked on the website and are
bills.
Meal Allowance will be provided in the form of Digital Meal Voucher from Bank to
on the card. Employee should opt for the meal allowance and no retrospective eligib
No calculations above take into account the effect of income tax.
Transport allowance will be taxable for employees who avail company transport. Th
applicable only for certain differently abled (PWD) employees based on document s
onboarding.
Reimbursements not availed off can be cashed under the head "Miscellaneous Allow
Any difference between (Monthly Total X 12) and Yearly Total will be adjusted in th
month of the Financial Year.
 period and will be prorated

Y
F

d/declaration form on DOJ

47,040
68,040
108,040
-
0 -
.

LTA 1 0

ployee has an option to choose the amounts and

tribution to Provident Fund

of 'Yes', 'Fixed' & 'No' to choose from;

hen options are 'Yes' & 'Fixed'
d on the website and are subject to submission of

al Voucher from Bank to receive monthly load

nd no retrospective eligibility allowed.
e tax.
il company transport. This allowance is
ees based on document submitted at the time of

ad "Miscellaneous Allowance".
otal will be adjusted in the salary paid in the last
B23: Please select PF from the drop down

B30:
In Lieu of reimbursements.