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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:
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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-- -
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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
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Compensation Structure in
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EDUCATION ALLOWANCE
Management Staff will be entitled to Education Allowance as follows:
Grades Allowance (Rs. per month)
M-1 to M-10 Rs.200/-
MEDICAL ALLOWANCE
Management staff will be paid Medical allowance @ 8.33% of Basic Salary per month.
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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.
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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.
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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
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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
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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
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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.
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TELEPHONE ALLOWANCE
Telephone Allowance will be paid as under:
Grades Allowance (Rs. per month)
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
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SOFT FURNISHING ALLOWANCE
Soft Furnishing Allowance will be paid as under:
Grades Allowance (Rs. per month)
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:
Grades Allowance (Rs. per month)
M-1 to M-4 nil
M-5 200
M-6 400
M-7 600
M-8 800
M-9 to M-10 1000
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DRIVER ALLOWANCE
Driver Allowance will be paid as under:
Grades Allowance (Rs. per month)
M-1 to M-7 nil
M-8 1500
M-9 to M-10 2000
PETROL ALLOWANCE
Petrol Allowance will be paid as under:
Grades Allowance (Rs. per month)
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.
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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.
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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
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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
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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
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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
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Salary Structure for MBA Trainee
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Salary Structure after Confirmation
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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
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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
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