Dear All,
Pl. confirm one month notice pay stands for one month gross salary or basic salary, say if an employee resigns without assigning any notice period he has to pay one basic or gross in lieu of notice period.
in case when company terminates the job what company will pay basic or.... while appointment letter says one month gross salary as notice pay.
Further is there any rule to exchange Earned leave with notice period.
rgds
Manish
From India, Lucknow
Pl. confirm one month notice pay stands for one month gross salary or basic salary, say if an employee resigns without assigning any notice period he has to pay one basic or gross in lieu of notice period.
in case when company terminates the job what company will pay basic or.... while appointment letter says one month gross salary as notice pay.
Further is there any rule to exchange Earned leave with notice period.
rgds
Manish
From India, Lucknow
Hi Manish,
Usually Basic Pay is consider but pl check what you have mention in appointment letter.
Every company has their own policy . But usually company cover Basic Amount in lieu of Notice period.
If Employee left without notice pay then you can recover his amount as per appointment letter . Taking BASIC PAY OR GROSS SALARY IN LIEU OF NOTICE IS depending upon HR Policy.
Leave may be adjusted but pl check HR Manual ....
Their is no Law for taking Basic amount or gross amount in lieu of notice ..... its totally policy.
Thx
Surrender Sangh
From India, Lucknow
13Usually Basic Pay is consider but pl check what you have mention in appointment letter.
Every company has their own policy . But usually company cover Basic Amount in lieu of Notice period.
If Employee left without notice pay then you can recover his amount as per appointment letter . Taking BASIC PAY OR GROSS SALARY IN LIEU OF NOTICE IS depending upon HR Policy.
Leave may be adjusted but pl check HR Manual ....
Their is no Law for taking Basic amount or gross amount in lieu of notice ..... its totally policy.
Thx
Surrender Sangh
From India, Lucknow
Dear Surendar,
I am working as a executive with a pvt ltd firm.
in my offer letten company menctioned as " The notice period for getting relieved will be 2 months or 2 months salary in lieu of the notice period"
And in my Appointment letter " your monthly package will be Rs.15,000/- all statutory deductions will be made from this package"
and my pay slips i use to get in this format:
1. Basic pay xxx
2. Dearness allowance xxx
3.HRA xxx
4.CCA xxx
5.conveance alowance xxx
6.Medical allowance xxx
__________________
Gross pay (totalfrom 1to6) xxxx
Employer's cont' to PF xx
Employer's cont' to FPF xx
Employer's cont' to ESI xx
______________
CTC(gross pay+above three) XXXX
And monthly my take home is
Gross - (Employee Cont. EPF+ESI ) where i use to get at around Rs. 12,400/-
Now i want to move from this company with in 2-3 days, so what is the amount i am suppose to pay company as per the above conditions.
Thank you
Govinda
From India, Hyderabad
I am working as a executive with a pvt ltd firm.
in my offer letten company menctioned as " The notice period for getting relieved will be 2 months or 2 months salary in lieu of the notice period"
And in my Appointment letter " your monthly package will be Rs.15,000/- all statutory deductions will be made from this package"
and my pay slips i use to get in this format:
1. Basic pay xxx
2. Dearness allowance xxx
3.HRA xxx
4.CCA xxx
5.conveance alowance xxx
6.Medical allowance xxx
__________________
Gross pay (totalfrom 1to6) xxxx
Employer's cont' to PF xx
Employer's cont' to FPF xx
Employer's cont' to ESI xx
______________
CTC(gross pay+above three) XXXX
And monthly my take home is
Gross - (Employee Cont. EPF+ESI ) where i use to get at around Rs. 12,400/-
Now i want to move from this company with in 2-3 days, so what is the amount i am suppose to pay company as per the above conditions.
Thank you
Govinda
From India, Hyderabad
Dear Srinivas,
as per your appt. order your gross pay is 15000. therefore, while calculating the notice pay the amount of Gross-conveyance allowance is usually practicible.
if follow todays date:
Notice Period -60 days
Days served: 3 days (if you want to get releieved in 2/3 days)
Amount to be Paid: 15000- Transport Allowance/30 = pay for 1 day
Amount to be recovered: pay for 1 day*(60-3) days
but again it depends on the company policy, some calculate on the basic and some on the gross monthly pay. check the same with your HR.
From India, Calcutta
as per your appt. order your gross pay is 15000. therefore, while calculating the notice pay the amount of Gross-conveyance allowance is usually practicible.
if follow todays date:
Notice Period -60 days
Days served: 3 days (if you want to get releieved in 2/3 days)
Amount to be Paid: 15000- Transport Allowance/30 = pay for 1 day
Amount to be recovered: pay for 1 day*(60-3) days
but again it depends on the company policy, some calculate on the basic and some on the gross monthly pay. check the same with your HR.
From India, Calcutta
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Notice Period Extension Letter Format.doc