What is the onsite salary in software companies? Is the onsite salary in TCS more than other Indian Companies?
Onsite salary can vary from company to company and from designation to designation. A very appropriate figure for companies like TCS is 60K US Dollars per annum in US. In UK it should be around 1800 pounds (for ASE in TCS) British Pound per month. In Caritor the onsite salary is the lone component, i.e. no Indian base salary in case of onsite. If you are a joining as SE or SSE or TL then it would be 52K USD, PL 57K USD PM 63K USD and salary depends on the location, the above salary is for New Jersey, Arizona, in other places the salaries are much less.
What is the composition of onsite salary package?
You normally get the salary in US as well as Indian salary for the period you are in US.
It can also be expressed as living allowance plus Indian salary converted to USD. In companies like HSBC it is like HSBC accommodation + regular salary+ onsite allowance.
How much of onsite salary can be saved?
I have heard people say they can save 50,000 to 1 lakh rupees per month when in onsite. May not be completely true, as areas like Bay Area/ California are pretty costly in US, and average consumption per day can be 80 dollars (minimum), taking into account only normal cost of living. And don’t forget about taxation.
What about taxation? Do I have to pay the tax in both the countries?
Double Taxation mostly impacts those people who earn income outside India for some months in a financial year. E.g.: – A person was there in US for 8 months and in India for 4 months. Tax in US paid on the income of 8 months in US. Tax in India paid on the income of complete 12 months (not only 4). So, when a person comes back from US to India, huge amount of Tax is deducted. Mostly resulting in Net Salary of Rs 0. This additional tax of 8 months is paid firstly to the Indian government (due to some treaty). This additional tax will get refunded, when you file IT returns in India. It means a loss to a person as his money is lying with government and only God can track the status of IT returns in India!!! Nothing to worry though everyone will have a double taxation certificate and get their money back once they file IT returns along with the certificate.
More details…http://en.wikipedia.org/wiki/Double_taxation
July 17, 2007 at 6:58 am |
thnk a lot dude for giving such a nice information
August 3, 2007 at 1:26 am |
Hi abt Stayam the onsite salaries in Aus are not great and company even tries to fleece its employees and does not provide any help in settling.
The HR is least helpful and virtually non-present leaving employee to find their own way.
Some of its policies are not practical and far off from ground realities.
September 19, 2007 at 5:53 pm |
and i don’t know, how to make it bette. Essa Morty.
March 23, 2008 at 8:44 pm |
It is true… the world is flattening; except when it comes to taxes!
September 25, 2008 at 4:48 am |
This website great tool for checking on site salaries.
http://payrate.appspot.com/search?keyword=Infosys
December 12, 2008 at 1:00 am |
E.g.: – A person was there in US for 8 months and in India for 4 months. Tax in US paid on the income of 8 months in US. Tax in India paid on the income of complete 12 months (not only 4).
i have a question suppose a person stayed in US from april to next april in that case when he come back india how much he needs to pay to indian govt.
i heard that if someone will be living less than 60 days in one financial year he will considered as NON RESIDENT. as eg: suppse a person came to US in month of march 2008 and going back to india in feb 2009. so he will be staying in india in fianncial year 2008-2009 lessthan 60 days and he will treated as non resident and he is not eligible for TAX PAY while coming back to india. is that correct?????
February 14, 2009 at 7:16 pm |
Yes, it is correct. As this person is living india less than 60 days, he will be considered as NRI and is is not taxable in India
April 1, 2009 at 6:57 pm |
My question is- how do these companies( like tcs) manage to give such high salaries as 60K$ per year for graduates such as B.Tech and B.E? The reason is,undergraduates in the U.S universities- like B.tech Computers get a salary in range of 45k$- 58k$ per year for companies here. So, actualy it would be loss for Indian companies. U.S companies outsource their work to Indian IT giants because of cost cutting. So if an Indian graduate gets more pay in US$ for a same level(say B.Tech) as compared to a US graduate, why do these US people prefer to outsoure work to Indians? It would be the other way round. Getting the work done by US professionals would be cheaper instead.