Dear BSSV...
Thanks a lot for your valuable information.
My appointment letter consist of a mistake in my CTC calculation, when i asked to Senior HR, He replied it is been revised but he is not ready to issue me pay slip so that i can get conformed.
Kindly suggest me what should i have to do in such situation.Should i believe his words or else what should be the next option.
From Netherlands
Thanks a lot for your valuable information.
My appointment letter consist of a mistake in my CTC calculation, when i asked to Senior HR, He replied it is been revised but he is not ready to issue me pay slip so that i can get conformed.
Kindly suggest me what should i have to do in such situation.Should i believe his words or else what should be the next option.
From Netherlands
201
Dear Friends,
Earlier Basic salary were @ 50% for basic, now the comapny has made it to 31% basic. Can the basic be changed at companies wish, as i know that if basic percentage is more they have burden on cashflow for gratuity and pf. Hence they have reduced to 31% to reduce the burden.
My question would be is it legal as some of the employees have already questioning why the basic is less, but CTC Matchs . Is there any act stating that it cannot be reduced. Also are Temp Employees eligible for ESI Deductions has they are given stipend as consolidated sal and expenses other for marketing only staff. if they perform they are absorbed as permanent and get all PF & ESI Benefit based on there sal.
Also does any act say that for Metro BAsic is 50% and non Metro it is 40% but what about cosmoploitan cities..like bangalore. need clarification.
Thanks
Urs
From India, Bangalore
Earlier Basic salary were @ 50% for basic, now the comapny has made it to 31% basic. Can the basic be changed at companies wish, as i know that if basic percentage is more they have burden on cashflow for gratuity and pf. Hence they have reduced to 31% to reduce the burden.
My question would be is it legal as some of the employees have already questioning why the basic is less, but CTC Matchs . Is there any act stating that it cannot be reduced. Also are Temp Employees eligible for ESI Deductions has they are given stipend as consolidated sal and expenses other for marketing only staff. if they perform they are absorbed as permanent and get all PF & ESI Benefit based on there sal.
Also does any act say that for Metro BAsic is 50% and non Metro it is 40% but what about cosmoploitan cities..like bangalore. need clarification.
Thanks
Urs
From India, Bangalore
The company can/may anytime change its policies. Basic has to be between 30 to 60%, hence 31% fixation is supported.
Secondly, There is no such legal provision which curtiles the right of an employer to reduce the salary given to his employees, so far it is in accordance with the minimum wages.....
Thirdly,
the process of converting temporary employees in to permanent based on "performance" is always the important criteria. Temporary employees are not the absolute employees of the company unlike the permanent employees. And temporary employees when made permanent is that they are (almost) being recruited freshly, only good difference would be that the employer and employee know each other well.
ESI or PF can not be claimed when the stipend is paid, technically it is not a salary or a wage, just a supportive pay in order to encourage the students/trainees or interns.
It is "not the" basic pay of 40 and 50%, but HRA (House Rent Allowances), in metros to meet the cost of living it is paid 50% "on" basic salary and in all other places 40%.
NO employer CAN avoid paying the PF/ESI, it is Mandatory, and stands at 12% basic pay of the employees.
From India, Bangalore
Secondly, There is no such legal provision which curtiles the right of an employer to reduce the salary given to his employees, so far it is in accordance with the minimum wages.....
Thirdly,
the process of converting temporary employees in to permanent based on "performance" is always the important criteria. Temporary employees are not the absolute employees of the company unlike the permanent employees. And temporary employees when made permanent is that they are (almost) being recruited freshly, only good difference would be that the employer and employee know each other well.
ESI or PF can not be claimed when the stipend is paid, technically it is not a salary or a wage, just a supportive pay in order to encourage the students/trainees or interns.
It is "not the" basic pay of 40 and 50%, but HRA (House Rent Allowances), in metros to meet the cost of living it is paid 50% "on" basic salary and in all other places 40%.
NO employer CAN avoid paying the PF/ESI, it is Mandatory, and stands at 12% basic pay of the employees.
From India, Bangalore
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Salary-Note.doc
SALARY SHEET CALCULATION.xls