Hello fishes,
I got an offer from hcl with 22(20 fixed + 2 variable) for 5.3 years of experience. I see a lot of CTC going to compensatory allowance , bright hour allowance and flexible basket a.

HCL folks can you please help me understand what will be my in hand salary. Will I be getting all of those allowances mentioned without deducting anything?

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You can divide the fixed with 12. Other buckets are nothing but to confuse. You can try to save some tax on flexi bucket. They must have explained on offer. How

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What is the designation they gave you and band?

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Technology specialist and e2 band. Is it okay??

Monthly component will be credited directly, bit from this Fy they have made quarterly review and based on the quarterly review it will be paid at a time for 3 months in one month and yearly after completing final review

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Does the all the allowances related to performance???

126500

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What about the remaining

Hiring nd firing is common now days so be in ur land

So rude brother

HCL giving this much for 6 years experience, stunned.. All the best

127543 in hand

You will be getting allowances as mentioned but total flexi amonut you will get once at a time and every year you need to declare in portal. Minus your flexi amonut with total and divide by 12 and minus your deduction, that will be your monthly take home. You will get around 1.1-1.2L per month

I hv recently joined with band "E3 tech specialist" for 29.5 LPA and most of the components looks messy along with the flexi basket option.

Basic : 61458
HRA : 30729
Comp allowance : 70275
food wallet : 2000
Flexi basket: 32500
Total Monthly (A) : 1,96,962
Total annualized (B) : 23,63,544/-

PF (annual) : 88500
Gratuity (annual) : 35467
Insur medical : 20000
Total Annual (C) : 1,43,957

PB @100% achievement : 2,95,000
Engagement PB @100% acheivment (monthly) : 1,47,504
Total Var com (D) : 4,42,504

Total CTC (B + C + D) : 29,50,005/-

The investment declaration process itself is kind of mis guiding within ESS

Can anyone guide me. ...how place these declarations...so that tax deductions can be saved as much as possible ?

Your variable depends on your rating. For EP and above you will get 100%.

What about Monthly component for new joiners.. they won't have any rating when they join.. so how much they get.

What is bright hour allowance??

26498 tax will deduct

Tax is fine a
What about other deductions...

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