FLEXI PAY STRUCTURE TO OPTIMIZE YOUR MONTHLY SALARY
BASE SALARY
To help minimize your tax liability
within the legal framework of
income tax rules and also to
optimize your cash flows in terms
of monthly salary, CSC provides
you with a flexi-component salary
structure. This option gives you the
freedom to choose from a set of
reimbursements to constitute your
"Flexi Basket."
These reimbursements are subject
to income tax benefits as per the
prevailing income tax laws. The
reimbursement limits mentioned
for each component in the "Flexi
Basket" are annual and the
eligibility amounts for these
components will be credited on a
quarterly basis, at the end of the
first month of the quarter. These
can be claimed by furnishing
original bills.These
reimbursements are paid through
the monthly payroll. Unutilized
balance in all flexi components
(except Lunch Coupons) can be
claimed as taxable once a quarter,
in the last month of every quarter.
Unclaimed balances at the end of
the financial year will be paid as
taxable, except for LTA which will
be carried forward to the next
financial year.
Please read carefully the
guidelines provided on the right
BEFORE you make your choices.
IMPORTANT: Please review
your elections thoroughly prior
to submission, as these
elections are final and
irrevocable until the next annual
salary restructure period.
Questions? If you require
assistance or have questions, you
can reach the CSCAnswers Help
Desk at:
1.800.425.5155 (toll-free)
+91.44.22617004
Select option 1 and identify
yourself as a new joiner. A
representative will assist you.
Basic Salary: This is a fixed component and is fully taxable. This component is fixed at 40% of base salary, monetary
benefits and company contribution to Provident Fund (PF). Basic salary will be auto-calculated; no input is required
from you.
House Rent Allowance (HRA): This is a flexible component. You can opt for 40% of basic salary if you reside in a
non-metro city and 50% of basic salary if you reside in a metro city. If you wish to exclude HRA from your salary
structure, then select HRA as 0%.
Conveyance Allowance: This is a fixed component. Employees up to Grade 40 are eligible for a tax-free
conveyance allowance of Rs. 9600 per annum. You need not submit bills to claim this amount.
Child Education Allowance (CEA): This is a flexible component. Rs. 1,200 per annum per child up to a maximum of
2 children can be claimed under this allowance. If you opt for this allowance and you do not have any children then,
this allowance is taxable.
Special Allowance: The amount displayed under this component is subject to tax.
MONETARY BENEFITS
Medical Reimbursement: This is a flexible component. Rs.15,000 per annum can be claimed under this component.
You can claim reimbursement for medical expenses incurred by you, your spouse, children, and dependent parents/
parents-in-law on submission of valid medical bills.
Telephone Reimbursements: This is a flexible component. You can claim your personal / residential telephone
expenses (one Mobile [post paid] / one Land Line or Wireless in Local Loop [WLL] and one Internet subscription /
renewal) under this component. Employees in Grade 60 & below are eligible for this benefit. Eligibility amounts are
based on grade as indicated in your offer letter.
Leave Travel Allowance (LTA): This is a flexible component. You can claim LTA for the period you were on leave
and you are eligible for tax exemption to the extent you submit travel bills (as per current income tax laws - up to
second AC train fare, bus fare of a public transportation system and air fare by economy class of a national carrier for
travel within India). As per current IT laws, you are entitled to tax-free LTA twice in a block of 4 years. Eligibility
amounts are based on grade as indicated in your offer letter.
Lunch Coupons: This is a flexible component. If you select this option lunch coupons worth Rs. 1,500 per month will
be distributed to you by the Administration Department. You can utilize these coupons at food outlets in all CSC India
locations or at specified outlets across India.
RETIREMENT BENEFITS
Provident Fund (PF): This is a fixed component. CSC’s contribution to PF is 12% of basic salary and is tax free. An
equal amount is deducted from your monthly pay. CSC and employee contributions are remitted to the PF authorities
every month.
Superannuation: This is a flexible component. You can choose to contribute 5 or 10 percent of your basic salary
towards superannuation. This is a long-term pension scheme. If you choose to discontinue this option, you can do so
only during the annual review cycle. The maximum contribution for superannuation is 10%.
Gratuity: This is a fixed component. You are eligible for gratuity when you exit from employment with the organization
after completion of 5 years of continuous service (i.e., for a minimum of 240 days every year) with CSC. Gratuity is
calculated based on the formula given below:
- ( 15/26) X (last drawn basic pay) X (number of years of service).
OTHER BENEFITS
Own Your Computer (OYC): On completion of 2 months of service, you can avail an interest free loan for purchase of
a Personal Computer (PC) of up to Rs. 50,000 or 90% of the cost of the computer, whichever is lower. This PC loan
should be repaid in 12 equated monthly installments.
Hospitalization Insurance: CSC provides hospitalization benefits to all employees through a third-party administrator
to cover hospitalization expenses incurred by you, your spouse, and upto 2 children. Coverage amount is Rs. 2,00,000
per annum and the company bears 100 percent of the premium . You may also choose to cover your parents/parents-
in-law or increase your coverage amount to Rs. 4,00,000 per annum by paying an additional premium.
Group Personal Accident Insurance: CSC provides financial assistance to you in case of death or disability due to
accident or other circumstances through its Group Personal Accident Plan. Coverage amount is Rs. 10,00,000 and the
company bears 100 percent of the premium.
Group Term Life Insurance: CSC provides financial assistance to your family through the Group Term Life insurance
plan in the event of your death. The company bears 100 percent of the premium as well as any third-party
administrative charges for coverage. Coverage amounts are based on grade as indicated in your offer letter.