Hi,
I have the following questions related to employee benifits. Would request you to kindly advice:
1. Furniture Allowance- How prevalant is this in the market? If it is, please advice on how this is enforced?
2. Relocation Allowance (stay)- During relocation, if we want to compensate an employee in lieu of stay in a Company owned accomodation how should this be enforced? what are the trends for this in the market? How is it kept updated with the market inflations?
3. What is the retirement age of employees in the private sector industry as compared to government rules and regulations?
4. Any information that you would have on Compliance/ Compulsory leave policy?
5. Any information on how prevalant National Pension Scheme is in the market?
Many Thanks!
I have the following questions related to employee benifits. Would request you to kindly advice:
1. Furniture Allowance- How prevalant is this in the market? If it is, please advice on how this is enforced?
2. Relocation Allowance (stay)- During relocation, if we want to compensate an employee in lieu of stay in a Company owned accomodation how should this be enforced? what are the trends for this in the market? How is it kept updated with the market inflations?
3. What is the retirement age of employees in the private sector industry as compared to government rules and regulations?
4. Any information that you would have on Compliance/ Compulsory leave policy?
5. Any information on how prevalant National Pension Scheme is in the market?
Many Thanks!
Dear Ms.Mandakini,
1.Furnishing Allowance etc is given by few Co's at the time of hiring. It may be given again after few years. I am aware that this is prevalent prac in few Co's.
It is obviously is not part of Salary/CTC. It is also given when unfurnished Co owned accommodation is given to employee within or outside Co premises.
2.The Co hires Flats or asks employee to select a furnished flat and pays rent (Your second point)
3.Retirement age in Pvt Co's is at the discretion of Co. There are no mandatory rules on this point.
4 On leave , plenty of information is available --just search
5.Dito for next point.
Regards,
Suresh Rathi
From India, Delhi
891.Furnishing Allowance etc is given by few Co's at the time of hiring. It may be given again after few years. I am aware that this is prevalent prac in few Co's.
It is obviously is not part of Salary/CTC. It is also given when unfurnished Co owned accommodation is given to employee within or outside Co premises.
2.The Co hires Flats or asks employee to select a furnished flat and pays rent (Your second point)
3.Retirement age in Pvt Co's is at the discretion of Co. There are no mandatory rules on this point.
4 On leave , plenty of information is available --just search
5.Dito for next point.
Regards,
Suresh Rathi
From India, Delhi
Dear Mr. Rathi,
Many thanks for your information.
1.Furnishing Allowance etc is given by few Co's at the time of hiring. It may be given again after few years. I am aware that this is prevalent prac in few Co's. It is obviously is not part of Salary/CTC. It is also given when unfurnished Co owned accommodation is given to employee within or outside Co premises. <Mandakini> Would you have any information on how this is enforced in the Companies? The rates etc?
2.The Co hires Flats or asks employee to select a furnished flat and pays rent (Your second point). <Mandakini> Would you have any information on how this is enforced in the Companies? The rent paid...is there a flat amount paid or on actuals..if a flat rate then how are inflations taken into account?
Would you know of any Consulting firms that are good in such bench marking activities?
Thanks again!
Many thanks for your information.
1.Furnishing Allowance etc is given by few Co's at the time of hiring. It may be given again after few years. I am aware that this is prevalent prac in few Co's. It is obviously is not part of Salary/CTC. It is also given when unfurnished Co owned accommodation is given to employee within or outside Co premises. <Mandakini> Would you have any information on how this is enforced in the Companies? The rates etc?
2.The Co hires Flats or asks employee to select a furnished flat and pays rent (Your second point). <Mandakini> Would you have any information on how this is enforced in the Companies? The rent paid...is there a flat amount paid or on actuals..if a flat rate then how are inflations taken into account?
Would you know of any Consulting firms that are good in such bench marking activities?
Thanks again!
Dear Ms.Mandakini,
1 .Furnishing etc is discussed at the time of hiring.Amount depends on level of the new employee.The management decides amount in consultation with new employee. The contract for furnishing is given to an interior designer Co.There is no min or max limit.Payment is made direct to firm undertaking furnishing and not to employee.
2. Again the payment is made to Flat owner and there is no fixed limit.The lease is for specific period hence inflation has no bearing. In case lease is more long duration, clauses are inherent in the deed to cater for automatic increase after a fixed period.
Regards,
Suresh Rathi
From India, Delhi
1 .Furnishing etc is discussed at the time of hiring.Amount depends on level of the new employee.The management decides amount in consultation with new employee. The contract for furnishing is given to an interior designer Co.There is no min or max limit.Payment is made direct to firm undertaking furnishing and not to employee.
2. Again the payment is made to Flat owner and there is no fixed limit.The lease is for specific period hence inflation has no bearing. In case lease is more long duration, clauses are inherent in the deed to cater for automatic increase after a fixed period.
Regards,
Suresh Rathi
From India, Delhi
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