Example Simple Component Configurations with Grade Progression Rate, User Entered Values, and Fixed Percentages
Here are two examples of how you can configure simple components that provide salary from rates in progression grade ladders.
You can include simple components for people to enter amounts and percentages that also add to the overall salary. And, you can include simple components that are fixed percentages that add to the overall salary or are independent of it.
Example 1
The first example has five simple components that add to an overall salary component.
Component | Type | Component Percentage Applies To | Effect on Overall Salary | Default Value | Example |
---|---|---|---|---|---|
Basic salary | Grade progression rate | NA | Add | NA | 100,000 |
Housing | Fixed percentage | NA | Add | 50% | 50,000 |
Flexible benefit plan | User entered amount | NA | Add | NA | 60,000 |
Provident fund | Fixed percentage | Basic salary | Add | 12% | 7,200 |
Gratuity | User entered percentage | Basic salary | Add | 5% | 5,000 |
Total cash | Overall salary | NA | NA | NA | 222,200 |
Example 2
The second example also has five simple components that add to an overall salary component. And, it has a fixed percentage component that's independent of the overall salary.
Component | Type | Component Percentage Applies To | Effect on Overall Salary | Default Value | Example |
---|---|---|---|---|---|
Basic salary | Grade progression rate | NA | Add | NA | 100,000 |
Housing | Fixed percentage | NA | Add | 50% | 50,000 |
Flexible benefit plan | User entered amount | NA | Add | NA | 60,000 |
Provident fund | Fixed percentage | Basic salary | Add | 12% | 7,200 |
Gratuity | User entered percentage | Basic salary | Add | 5% | 5,000 |
Total cash | Overall salary | NA | NA | NA | 222,200 |
Variable pay | Fixed percentage | Basic salary | None | 20% | 44,440 |