Grade Deputy Manager Current Grade SENIOR TEST ENGINEER
TOTAL COST OF EMPLOYMENT
SALARY AND ALLOWANCES
Per Month Annual
Basic Salary 15,165 181,980
House Rent Allowance 6,375 76,500
Lunch Allowance 910 10,920
Conveyance Allowance 1,600 19,200
Medical 1,250 15,000
Personal Pay 6,500 78,000
Other Allowance 8,450 101,400
Telephone Allowance 0 0
Leave Travel Assistance 15,165
City Allowance 0 0
PBG Allowance 0 0
Total Fixed Cash ( A ) 40,250 498,165
Provident Fund 21,840
Superannuation 0
Retirals(B) 21,840
Total Fixed Pay(A+B) 520,005
Housing Loan 1,200,000.00 @2.5% 84,600
Personal Loan 75,000.00 @5% 10,125
Vehical Loan 150,000.00 @3% 11,925
Housing Loan Slab-2 600,000.00 @5% 27,300
Subsidized Loans(C) 133,950
TOTAL COST TO COMPANY(TCTC) (A+B+C) 653,955
Benefits:
Hospitalisation: You will be entitled to the hospitalisation benefit under the hospitalisation scheme prevailing in the Bank which is
currently 200000 p.a.
Gratuity: As per Gratuity Act.
Superannuation: All Employees who are in E4 and above are entitled to Superannuation Benefit contribution.
Employer contributes 13% of Basic Salary per annum towards Superannuation . This contribution goes to a Superannuation Fund .The
Superannuation Fund is governed by the HDFC Bank Ltd. Superannuation [Link] tax liability arising out of the same needs to be
borne by the employee.
Employees can opt to take their 13% contribution to superannuation fund as cash. This amount would be paid through the payroll, will
appear in the payslip, and will be fully taxable.
Loans: The amount mentioned is the national value of the loan and not a cash component of salary.
Performance Bonus: As per Policy.
NOTE: Staff Loan is not Applicable For Receptionist, Management Trainee, Trainee, Executive Trainee, Management Associate.
*This is not a formal offer. In case you accept this then kindly DO NOT resign in your present organisation till we hand over your offer letter to you.