Dear All, I m working in Pvt. Ltd. Manufacturing Company . and wants to Know about The Increment Detail. Is Increment is compulsory for everyone in every Year . plz tell me about this
From India, Chandigarh
From India, Chandigarh
Dear Dinesh Kumar Thakur,
You could have given little more information as to why are you asking this question. What is your designation? Are you owner or from HR? Is your company running in losses?
As long as you pay minimum wages to your employees, from the legal stand point, everything is fine. However, enterprise cannot be run only by fulfilling the legal obligations. Enterprise has to sustain competition. By stagnating monthly salary, will you be able to sustain competition? Reply to this question is far more important.
Thanks,
Dinesh Divekar
From India, Bangalore
7884You could have given little more information as to why are you asking this question. What is your designation? Are you owner or from HR? Is your company running in losses?
As long as you pay minimum wages to your employees, from the legal stand point, everything is fine. However, enterprise cannot be run only by fulfilling the legal obligations. Enterprise has to sustain competition. By stagnating monthly salary, will you be able to sustain competition? Reply to this question is far more important.
Thanks,
Dinesh Divekar
From India, Bangalore
Dear Sir, I am Not Employer , I am Working in HR Dept. as A HR Executive. and my company is not running any kind of loss.
From India, Chandigarh
From India, Chandigarh
sanctioning of increment is not a right under any statute. it is given once in a year as a mark of performance of your employment. in your case as the company not in a loss, you can propose your management to give an increment to employees ranging from 5 to 10% based on the performance of people.
From India, New Delhi
From India, New Delhi
Sorry, I do not agree with the view that release of annual increment to employees is gesture of goodwill to mark the performance. I am of opinion that it is granted to compensate the employees towards hike in price-index. Minimum wages are revised twice a year on this ground. I think, there is no industry or establishment in private sector who has provision for DA linked to price-index.
Thanks
V K Gupta
From India, Panipat
Thanks
V K Gupta
From India, Panipat
Dear Dinesh You can implement your increment as par Profit of company fixed some budget for increment and also go as par inflation rate fixed by RBI.
From India, Ahmadabad
From India, Ahmadabad
Increment to an Executive-HR!!! Please note though it may be one of conditions in your appointment letter that annual increment may be considered based on individual's contribution and company performance. Annual increments are in practice in most companies to meet out inflation and policy as such is reviewed basis cost of your talents in market demand.Trade off is between productivity and wages. While employers want increase in productivity, employees want share in that.But in private set up, which I guess you are into, its not compulsory and always practiced.You can chat with your superior but with a care if you have that rapport with him that sir, year is gone and if management has inclination to visit our remuneration policy etc.You can put up a query that if company planed to award increment or does not............... whats prevailing practice HR has here as things are not written in terms of policy etc etc.
Regds,
RDS Yadav
Management Adviser and Trainer,
Director-Future Institute if Engg and Technolgy
From India, Delhi
Regds,
RDS Yadav
Management Adviser and Trainer,
Director-Future Institute if Engg and Technolgy
From India, Delhi
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