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Nov 23,  · Definition and How To Calculate. The history of merit pay. Most companies establish a percent scale for merit pay. They usually offer employees a small percentage of their existing salary or pay rate. It's common for a department or business unit to allocate its overall percent increase according to employee performance during their merit.

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Annual basic salary = monthly basic salary X 12 months. However, there is no definite way to calculate the basic wage as it differs from company to company. Ideally, they use a reversed calculation method where a percentage of the salary and CTC is taken. The basic pay is usually 40% of gross income or 50% of an individual’s CTC.