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
From India, Vijayawada
Hi
Its depends on the company. It could be part of an employee's CTC but not on the wages. Wages are fixed and calculated based on the number of working days. But performance linked incentive/ variable pay are paid depends on the company's performance, so you can be kept separately as you will not deduct any statutory requirement too.
184Its depends on the company. It could be part of an employee's CTC but not on the wages. Wages are fixed and calculated based on the number of working days. But performance linked incentive/ variable pay are paid depends on the company's performance, so you can be kept separately as you will not deduct any statutory requirement too.
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
From India, Vijayawada
Hi,
No you cant do that. If you add a component as incentive/allowance in your salary, then it has to be calculated based on your salary calculation. You cant keep it separately. If in case of ESI, yes you can do but not on fixing minimum wages.
No you cant do that. If you add a component as incentive/allowance in your salary, then it has to be calculated based on your salary calculation. You cant keep it separately. If in case of ESI, yes you can do but not on fixing minimum wages.
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