if appointment letter says just salary nothing mentioned basic or gross????
Seniors Pls advise............................................ .................................................. .................................................. .................................................. ........................
From India, Bangalore
Seniors Pls advise............................................ .................................................. .................................................. .................................................. ........................
From India, Bangalore
In dat case, the monthly salary that you draw is to be paid to the employer.
So for eg. If you get a monthly salary of say X Rs. you'd pay back X Rs.
Your Monthly salary would include all or some of below:
Basic salary
Dearness / Living Allowance
Medical Allowance
Conveyance Allowance
Any other allowances.
Professional Tax (deduction, so it won't come in your hand, but is a part of your salary)
TDS (deduction, so not in your hand but is deducted from your salary)
any other deductions
Pls note that if any salary advance or loan was taken, that would be an added liability on your part to pay to the company.
All this would be reflected on your F&F (Full & Final) statement.
In addition to this, if you've taken more leaves than granted for the period you worked, salary deduction would take place.
On the other hand, if you have leave to your credit in said period, (and if you have leave encashment policy) those unavailed leaves would be cashed and paid.
Hope it helped :)
From India, Mumbai
737So for eg. If you get a monthly salary of say X Rs. you'd pay back X Rs.
Your Monthly salary would include all or some of below:
Basic salary
Dearness / Living Allowance
Medical Allowance
Conveyance Allowance
Any other allowances.
Professional Tax (deduction, so it won't come in your hand, but is a part of your salary)
TDS (deduction, so not in your hand but is deducted from your salary)
any other deductions
Pls note that if any salary advance or loan was taken, that would be an added liability on your part to pay to the company.
All this would be reflected on your F&F (Full & Final) statement.
In addition to this, if you've taken more leaves than granted for the period you worked, salary deduction would take place.
On the other hand, if you have leave to your credit in said period, (and if you have leave encashment policy) those unavailed leaves would be cashed and paid.
Hope it helped :)
From India, Mumbai
To: Ankita1001 ,
Thanks ...
In my opinion :Salary means basic salary , rest are the allowances i.e HRA , Special allowances etc...
Isn't it...???
Company pays the allowances ,HRA & others IF employee works for employer in that course of time , employer doesn't give gross salary in the event of illness because employee doesn't work for that period.
So, in the event of resignation & termination if specifically not mention basic or gross , the recovery & pay should be on basic bacause employee doesn't work in this period...
Kindly advise...
From India, Bangalore
Thanks ...
In my opinion :Salary means basic salary , rest are the allowances i.e HRA , Special allowances etc...
Isn't it...???
Company pays the allowances ,HRA & others IF employee works for employer in that course of time , employer doesn't give gross salary in the event of illness because employee doesn't work for that period.
So, in the event of resignation & termination if specifically not mention basic or gross , the recovery & pay should be on basic bacause employee doesn't work in this period...
Kindly advise...
From India, Bangalore
If not specified, how can one say if salary = basic salary or salary = gross salary.
Usually salary is referred to as gross salary.
Example:
Say your monthly gross is 25000 (just giving a figure for example) and out of this your basic is say 10000
If someone asks you your salary, you'd say 25000.
Sure incentives are not a part of salary as they are not fixed in nature and would depend on your performance.
Salary is usually a term given to a fixed amount you draw on monthly / weekly basis.
Priorly we had only one salary and allowances were not designed. Now we categorize and design your salary in a way to keep your basic as low as possible and give you more allowances so that you can reap tax benefits. If you carefully scrutinize most of allowances are only for tax saving purpose.
So all your fixed allowances are a part of your salary.
Hope it helped :)
From India, Mumbai
Usually salary is referred to as gross salary.
Example:
Say your monthly gross is 25000 (just giving a figure for example) and out of this your basic is say 10000
If someone asks you your salary, you'd say 25000.
Sure incentives are not a part of salary as they are not fixed in nature and would depend on your performance.
Salary is usually a term given to a fixed amount you draw on monthly / weekly basis.
Priorly we had only one salary and allowances were not designed. Now we categorize and design your salary in a way to keep your basic as low as possible and give you more allowances so that you can reap tax benefits. If you carefully scrutinize most of allowances are only for tax saving purpose.
So all your fixed allowances are a part of your salary.
Hope it helped :)
From India, Mumbai
To:Ankita1001
Thanks for discussion.
Yes in general terms, if somebody mention the salary in interview form etc. that is gross salary (Total CTC) but in the terms of legal; salary means basic salary rest are the allowances.
For example:
Basic Salary = 20000
HRA= 10000
Special allowances= 15000
Total =45000
In legal terms salary is 20000.
This is as per my knowledge .
Please correct me If I am wrong.
Regards
Robin.
From India, Bangalore
Thanks for discussion.
Yes in general terms, if somebody mention the salary in interview form etc. that is gross salary (Total CTC) but in the terms of legal; salary means basic salary rest are the allowances.
For example:
Basic Salary = 20000
HRA= 10000
Special allowances= 15000
Total =45000
In legal terms salary is 20000.
This is as per my knowledge .
Please correct me If I am wrong.
Regards
Robin.
From India, Bangalore
Hi,
This seems to be a vey strange situation. I am in the UK and here this would not really happen I don't think.
An employee has an agreed notice period in their contract, 3 months for example. When they hand in their notice the leave date is agreed after that 3 months. If the employee wants to leave any earlier then this would be a negotiation with the relevant manager and if a shorter notice period is agreed then the employee would simply just receive the pay for the period they worked - there would be no circumstance where the employee would owe the employer as they have not been paid the money? If the employer could not accomodate a shorter notice period then the employee would have to work the full notice period - if they then did not it is a breach of the employment contract and they could ultimately be dismissed for misconduct in the same was as someone who just doesn't turn up for work.
If the employer did not want the employee to work the full notice period they would have to pay the employee for the full notice as they are contractually entitled to it, unless they agreed to forgoe it for some reason.
Ultimately, the employer is entitled to the full period of notice to be worked and the employee to the pay for that work - anything other than that would need to be negotiatied and agreed by both parties....
Does that help?
Paul
From United Kingdom, Coventry
This seems to be a vey strange situation. I am in the UK and here this would not really happen I don't think.
An employee has an agreed notice period in their contract, 3 months for example. When they hand in their notice the leave date is agreed after that 3 months. If the employee wants to leave any earlier then this would be a negotiation with the relevant manager and if a shorter notice period is agreed then the employee would simply just receive the pay for the period they worked - there would be no circumstance where the employee would owe the employer as they have not been paid the money? If the employer could not accomodate a shorter notice period then the employee would have to work the full notice period - if they then did not it is a breach of the employment contract and they could ultimately be dismissed for misconduct in the same was as someone who just doesn't turn up for work.
If the employer did not want the employee to work the full notice period they would have to pay the employee for the full notice as they are contractually entitled to it, unless they agreed to forgoe it for some reason.
Ultimately, the employer is entitled to the full period of notice to be worked and the employee to the pay for that work - anything other than that would need to be negotiatied and agreed by both parties....
Does that help?
Paul
From United Kingdom, Coventry
Dear Friend,
I agree with what Preetam Despande has stated. Your appointment letter stipulates the terms and conditions of your separation from the company. Whatever is stated in this clause will prevail.
Vasant Nair
From India, Mumbai
I agree with what Preetam Despande has stated. Your appointment letter stipulates the terms and conditions of your separation from the company. Whatever is stated in this clause will prevail.
Vasant Nair
From India, Mumbai
Sure Paul, we have a similar clause wherein...
An employee is to serve the stated notice period when he puts down his/her paper.
If the notice period if of say X months, we do not usually pay the amount in the said period. We settle it out as F&F (Full and Final) payment. That way all the liabilities and dues on either side are calculated and accordingly recovered.
If a company asks an employee to resign and wants it to do on immediate grounds (without notice period) the company pays the salary for the said notice tenure. In a similar way, if an employee wishes to fast-track the resignation and do not wish to serve the notice, he too has the option of paying the same amount back to employer and leave immediately.
Hope it cleared the doubts you had. :)
From India, Mumbai
An employee is to serve the stated notice period when he puts down his/her paper.
If the notice period if of say X months, we do not usually pay the amount in the said period. We settle it out as F&F (Full and Final) payment. That way all the liabilities and dues on either side are calculated and accordingly recovered.
If a company asks an employee to resign and wants it to do on immediate grounds (without notice period) the company pays the salary for the said notice tenure. In a similar way, if an employee wishes to fast-track the resignation and do not wish to serve the notice, he too has the option of paying the same amount back to employer and leave immediately.
Hope it cleared the doubts you had. :)
From India, Mumbai
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