Dear sir, Monthly Profit distribution /Incentive is a part of wage or not, if it is not given with Salary? Regards Kumar Gautam
From India, Vijayawada
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From India, Vijayawada
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Hi.
It depends on the company. It could be part of an employee's CTC but not included in the wages. Wages are fixed and calculated based on the number of working days. However, performance-linked incentives/variable pay are paid depending on the company's performance, so they can be kept separately as they will not deduct any statutory requirements either.
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194It depends on the company. It could be part of an employee's CTC but not included in the wages. Wages are fixed and calculated based on the number of working days. However, performance-linked incentives/variable pay are paid depending on the company's performance, so they can be kept separately as they will not deduct any statutory requirements either.
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Thanks for your reply. I wanted to know, can incentives can be added with fixed salary to show that total income of a employee is more than Minimum wages of the state ? Kumar Gautam
From India, Vijayawada
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From India, Vijayawada
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Hi,
No, you can't do that. If you add a component as an incentive/allowance in your salary, then it has to be calculated based on your salary calculation. You can't keep it separately. If in the case of ESI, yes, you can do it, but not in fixing minimum wages.
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No, you can't do that. If you add a component as an incentive/allowance in your salary, then it has to be calculated based on your salary calculation. You can't keep it separately. If in the case of ESI, yes, you can do it, but not in fixing minimum wages.
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