Hi resma,
The pay roll is the consolidate statement of salary of all employee at the location and all deduction and earning and take home salary show in that.
Compensation mean its payable to employee at the time of any mishapning of employee.
thanks
Manoj
From India, Delhi
4The pay roll is the consolidate statement of salary of all employee at the location and all deduction and earning and take home salary show in that.
Compensation mean its payable to employee at the time of any mishapning of employee.
thanks
Manoj
From India, Delhi
Dear Sir,
Thanks for correcting my mistake. I actually meant revision of D.A. in every six moths. But now most organisation not differentiate Basic and D.A. They simply mention "Basic" only which include D.A.
Thanks for your correction.
Kumaran siva
From India, Delhi
Thanks for correcting my mistake. I actually meant revision of D.A. in every six moths. But now most organisation not differentiate Basic and D.A. They simply mention "Basic" only which include D.A.
Thanks for your correction.
Kumaran siva
From India, Delhi
Dear Arun
Refer to Manganese Ore Limited case in 1991 (Supreme Court).
It was held that Attendance Bonus is not wages. SC held that incentives do not fall under Minimum wages. In the same case it also held food concessions unless specified by the Govt in notification will not be considered for Minimum Wages
This judgement was elaborate.
I have not seen the jnudgement refered by you. So with the understanding I have on this subject based on the above judgement and a few Karnataka High Court judgement, Basic and DA alone will be taken
Siva
From India, Chennai
Refer to Manganese Ore Limited case in 1991 (Supreme Court).
It was held that Attendance Bonus is not wages. SC held that incentives do not fall under Minimum wages. In the same case it also held food concessions unless specified by the Govt in notification will not be considered for Minimum Wages
This judgement was elaborate.
I have not seen the jnudgement refered by you. So with the understanding I have on this subject based on the above judgement and a few Karnataka High Court judgement, Basic and DA alone will be taken
Siva
From India, Chennai
dear all,
i seen so many response to the question of CTC and Minimum Wages. What i suggest, when you make break up of ctc try to follow:-
BASIC - According to Minimum Wages or 40-50 of C.T.C.(whatever is high)
H.R.A - Balance of Minimum Wages or maximum 50%
Conv - Balance of M.W. & H.R.A. maximum of Rs. 800/-
Medical - Balance of M.W.,H.R.A. & Conv. maximum of Rs. 1250/- p.m.
P.F. - 12% of total basic or 12% on Rs. 6500/-
ESI - 4.75% of gross if gross less than Rs. 10000/-
Bonus - 8.33% of basic or 8.33% on Rs. 3500/-
O.Allow.- Balance amount of all the above components.
If there is any canteen and bus facility that can also be included in it.
Please expect others suggestion also.
thanks
kumaran siva
From India, Delhi
i seen so many response to the question of CTC and Minimum Wages. What i suggest, when you make break up of ctc try to follow:-
BASIC - According to Minimum Wages or 40-50 of C.T.C.(whatever is high)
H.R.A - Balance of Minimum Wages or maximum 50%
Conv - Balance of M.W. & H.R.A. maximum of Rs. 800/-
Medical - Balance of M.W.,H.R.A. & Conv. maximum of Rs. 1250/- p.m.
P.F. - 12% of total basic or 12% on Rs. 6500/-
ESI - 4.75% of gross if gross less than Rs. 10000/-
Bonus - 8.33% of basic or 8.33% on Rs. 3500/-
O.Allow.- Balance amount of all the above components.
If there is any canteen and bus facility that can also be included in it.
Please expect others suggestion also.
thanks
kumaran siva
From India, Delhi
dear reshma,
According to me, payrole is a particular amount payable to an employee for performing a particular job for fixed hours of work (monthly or daily). But compensation is a social security provided by law for an employee to some benefit apart from his salary for any kind of loss he suffered, whether physical or financial, whether due to his mistake or not, keeping in mind the future of the employee. For eg.: compensation for accident during working or retrenchment compensation for termination of service etc.
thanks,
kumaran siva
From India, Delhi
According to me, payrole is a particular amount payable to an employee for performing a particular job for fixed hours of work (monthly or daily). But compensation is a social security provided by law for an employee to some benefit apart from his salary for any kind of loss he suffered, whether physical or financial, whether due to his mistake or not, keeping in mind the future of the employee. For eg.: compensation for accident during working or retrenchment compensation for termination of service etc.
thanks,
kumaran siva
From India, Delhi
dear member, ESIC is applicable on Gross salary up Rs.10000/- only and employee contribution is 1.75% and employer contribution is 4.75%. thanks kumaran siva
From India, Delhi
From India, Delhi
as per my opinion and knowledge min basic should not be less than mention in minimum wages decided by the govt pankaj
From India, Mumbai
From India, Mumbai
Hi Dileep,
Pls note..
Eligibility : Any employee whose Gross Salary is < or = 10,000 would fall under the ESIC Bracket.
However, ESIC gets calulated as follows :
Employees' Contribution : 1.75% of gross salary
Employer's Contribution : 4.75% of Gross Salary
Regards
From India, Mumbai
Pls note..
Eligibility : Any employee whose Gross Salary is < or = 10,000 would fall under the ESIC Bracket.
However, ESIC gets calulated as follows :
Employees' Contribution : 1.75% of gross salary
Employer's Contribution : 4.75% of Gross Salary
Regards
From India, Mumbai
Hi, As Far As I Know From The New Rules, Basic Should Be 50% Of Gross And Hra Is 40%of Basic. Ta - 800/month - Fixed, Medical - 1250/month - Fixed. Regards, Sowmya N
From India, Hyderabad
From India, Hyderabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.