[Company Logo][Company Name]
MARKET CORRECTION – SALARY REVISION
- Ref. No.:
- [Reference Number]
- Date:
- [Date]
Private and Confidential
To,
[Employee Name]
Employee ID: [Employee ID]
[Designation], [Department]
[Work Location]
Subject: Market Correction in Compensation
Dear [Employee Name],
At [Company Name], we regularly compare our pay with the external market. A recent benchmarking exercise for [Role Family] roles in [City / Region] showed that pay for your role has moved upward. To keep your compensation competitive, the management has approved a market correction for you.
| Particulars | Details |
|---|---|
| Current Annual CTC | ₹[Previous CTC] |
| Market Correction | ₹[Amount] ([Percentage]%) |
| Revised Annual CTC | ₹[CTC] |
| Revised Monthly Gross | ₹[Amount] |
| Effective From | [Effective Date] |
| First Reflected in Salary of | [Month YYYY] |
This correction is in addition to, and independent of, your performance-based increment. During the next annual cycle, [your increment will be considered on the revised CTC / the correction will be taken into account while fixing your increment]. A revised component-wise breakup is enclosed.