What is FEP in salary structure?

What is FEP in salary structure?

4) Package is very less when compared to other service related companies, especially the FEP (Flexible expenditure plan) component which is a part of the salary package, where the company makes all cheat. Company reimburses personal broadband expenses, while this is also part of our salary.(FEP).

What is FEP payslip?

 FEP (Flexible Expense Plan) is declared from the basket of allowances by a Happiest Mind at the beginning of the financial year – i.e. 1st April to the following 31st March.

What is bonus in mindtree?

Mindtree Consulting pays an average of ₹101,978 in annual employee bonuses. Bonus pay at Mindtree Consulting ranges from ₹40,695 to ₹305,000 annually among employees who report receiving a bonus.

Will mindtree give joining bonus?

No bonus, no overtime pay, no additional benefits.

What is FEP in salary in mindtree?

FEP means “Flexible Expenditure Plan”. In Minditree, your salary has two components Basic and FEP. In FEP, they include HRA, Bonuses and other allowances. If you don’t declare your FEP, you will get only Basic component of your salary.

How much is hand salary in India?

Take Home Salary = Gross Salary – Income Tax – Employee’s PF Contribution(PF) – Prof. Tax. Gross Salary = Cost to Company (CTC) – Employer’s PF Contribution (EPF) – Gratuity. Gratuity = (Basic salary + Dearness allowance) × 15/26 × No. of Years of Service.

How do I declare FEP in mindtree?

When you join mindtree then your PF (people function) will explain you about FEP. Basically , your CTC = BASIC PAY + FEP. FEP = HRA + Other Allowances. you have to declare FEP to get your full CTC, otherwise you will get only BASIC pay.

What is the salary of C2 in mindtree?

Average Mindtree IT Analyst C2 salary in India is ₹ 9.5 Lakhs for employees with less than 1 year of experience. IT Analyst C2 salary at Mindtree ranges between ₹ 7 Lakhs to ₹ 12 Lakhs.

What are the cuttings in salary?

Components of Salary Structure

• Basic Salary. Basic salary is the base income of an employee, comprising of 35-50 \% of the total salary.
• Allowances. Allowance is an amount payable to employees during the course of their regular job duty.
• Gratuity.
• Employee Provident Fund.
• Professional Tax.
• Perquisites.
• ESIC.

What is the highest salary in mindtree?

What is the highest salary in Mindtree? The highest-paying job at Mindtree is a General Manager with a salary of ₹45.4 Lakhs per year. The top 10\% of employees earn more than ₹16.97 lakhs per year. The top 1\% earn more than a whopping ₹30.43 lakhs per year.

What is C1 in mindtree?

Average Mindtree Senior Consultant C1 salary in India is ₹ 3.8 Lakhs for employees with less than 1 year of experience. Senior Consultant C1 salary at Mindtree ranges between ₹ 3.5 Lakhs to ₹ 4 Lakhs.

What is the full form of FEP in Mindtree?

FEP means “Flexible Expenditure Plan”. In Minditree, your salary has two components Basic and FEP. In FEP, they include HRA, Bonuses and other allowances. Originally Answered: what is FEP in Mindtree?

How much of your FEP salary is paid out monthly?

For ex. if you are C2 and assume your salary is 11.5 lpa, then 50\% of your FEP salary (after basic, hra) will be paid out on a monthly basis. Remaining 50\% will be paid quarterly if and only if your average project utilisation for the quarter is equal to or more than 70\%

What is the percentage of variable pay in Mindtree?

For C2 level mindtree has 12\% variable. From that 6\% you get with each month salary if you are in project. (The rest 6\% )/4 you will get with first month salary of each quarter. This also depends on your \% of billing.

What is the bonus structure at mindmindtree?

Mindtree has fixed 12\% of CTC as variable pay, which they call it as performance bonus. Half of this performance bonus is given in every month’s salary and rest half is given at the end of each quarter. You will get full quarterly bonus until or unless your utilization goes below certain threshold.