Dear Sir/Madam,
I got Job in one of the MNC company, while issuing offer letter they have mentioned DA one amount and while issuing appointment letter they have reduced DA amount.
they have mentioned " These pay , allowance & other benefits may be varied in the sole discretion of the company, such variation being subject to the condition that pay, allowances or other benefits shall not be varied to your disadvantage without your consent"
I have little confusion in this regard, please suggest they will not reduce the benefits or DA amount without my knowledge.
Please suggest me..
Thanks
From India, Bangalore
3I got Job in one of the MNC company, while issuing offer letter they have mentioned DA one amount and while issuing appointment letter they have reduced DA amount.
they have mentioned " These pay , allowance & other benefits may be varied in the sole discretion of the company, such variation being subject to the condition that pay, allowances or other benefits shall not be varied to your disadvantage without your consent"
I have little confusion in this regard, please suggest they will not reduce the benefits or DA amount without my knowledge.
Please suggest me..
Thanks
From India, Bangalore
Dear Ms. Rajeshwari,
Accroding to the provisions of Payment of Wage Act 1936, we cannot reduce the Basic or the DA of any employee. Therefore any other allowances relevant to the employer can be reduced. Please check your concern with the HR before you accept any such lopsided salary structure.
From India, Visakhapatnam
Accroding to the provisions of Payment of Wage Act 1936, we cannot reduce the Basic or the DA of any employee. Therefore any other allowances relevant to the employer can be reduced. Please check your concern with the HR before you accept any such lopsided salary structure.
From India, Visakhapatnam
Dear Mam,
Thanks for the suggestion, they have made the following changes in appointment letter
1)reduced amount LTA 1200/-
2)DA amount 117/-
3) while issuing offer letter they have mentioned AHRA 4862/ per month but they have removed this amount while issuing appointment letter.
When i asked to their HR department , they are saying by mistake they have sent like that.
Before giving appointment letter, they have sent their security people to my native for inspection and all.
Now they are asking for property details also,
Please suggest can i give all those details.
From India, Bangalore
Thanks for the suggestion, they have made the following changes in appointment letter
1)reduced amount LTA 1200/-
2)DA amount 117/-
3) while issuing offer letter they have mentioned AHRA 4862/ per month but they have removed this amount while issuing appointment letter.
When i asked to their HR department , they are saying by mistake they have sent like that.
Before giving appointment letter, they have sent their security people to my native for inspection and all.
Now they are asking for property details also,
Please suggest can i give all those details.
From India, Bangalore
You said MNC Right?? Security people to your native for what inspection?? have u told in interview anything like conflicts or any legal cases relating to your family?? as far as me concern your employer doesnt wanna knw ur property details. will u please elaborate ur situation!!
Regards,
Sai..
From India, Hyderabad
Regards,
Sai..
From India, Hyderabad
Dear Ms. Rajeshwari,
Your situation seems a bit finicky to me. I suspect that the employer wants to get something out of the course. I mean any MNC have nothing to do with the property issues. Please talk to the concerned person in the company for a better undertanding before its too late and you realize something not so good in the eleventh-hour.
From India, Visakhapatnam
Your situation seems a bit finicky to me. I suspect that the employer wants to get something out of the course. I mean any MNC have nothing to do with the property issues. Please talk to the concerned person in the company for a better undertanding before its too late and you realize something not so good in the eleventh-hour.
From India, Visakhapatnam
Sir,
They have sent their security people for Address confirmation.
Now i got a mail stating that
"There are some errors in our Offer letter and the same was corrected in our Appointment Letter.
1) Your correct LTA is Rs.18000/- only. It was wrongly indicated in our offer letter.
2) The DA is variable DA and it will be vary month to month based on the points
3) You are eligible for Superannuation benefit which is covered under LIC Superannuation scheme. Incase, you want to opt out this, then the same will be given as Additional HRA (15% of your basic + DA)"
Sir, Please advice me about DA, they are saying it way vary month to month based on the points and regarding superannuation benefit - i will opt out this , really are they are going to give this benifit.
Please suggest,
Awaiting for your valuable reply.
Thanks
From India, Bangalore
They have sent their security people for Address confirmation.
Now i got a mail stating that
"There are some errors in our Offer letter and the same was corrected in our Appointment Letter.
1) Your correct LTA is Rs.18000/- only. It was wrongly indicated in our offer letter.
2) The DA is variable DA and it will be vary month to month based on the points
3) You are eligible for Superannuation benefit which is covered under LIC Superannuation scheme. Incase, you want to opt out this, then the same will be given as Additional HRA (15% of your basic + DA)"
Sir, Please advice me about DA, they are saying it way vary month to month based on the points and regarding superannuation benefit - i will opt out this , really are they are going to give this benifit.
Please suggest,
Awaiting for your valuable reply.
Thanks
From India, Bangalore
Hey rajeshwari you better go and talk to the HR person direcrly.. DA wont varies every month..
Go to hr speak ti him/her about your doubts, if u are confident enough then accept your appointment..
Regards,
Sai..
From India, Hyderabad
Go to hr speak ti him/her about your doubts, if u are confident enough then accept your appointment..
Regards,
Sai..
From India, Hyderabad
Dear Ms. Rajeshwari,
LTA is a monetary benefit/ Tax saving benefit given to any employee to incurr expenses when you travel. LTA is exempted from tax (non- taxable) as a reimburement and allowance. For LTA allowance the proof of travel should be submitted, if not the LTA would be taxable. LTA is not given as a specific amount and it can vary from company to company.
However, DA is a non-variable component. variable components are allowances, incentives and bonus etc. Basic, DA, Medical ets are fixed component ina salary. HRA depends on the percentage after deciding the basic pay.
Please talk to your employer and set things at first to avoid any sort of discripency after you joining them.
From India, Visakhapatnam
LTA is a monetary benefit/ Tax saving benefit given to any employee to incurr expenses when you travel. LTA is exempted from tax (non- taxable) as a reimburement and allowance. For LTA allowance the proof of travel should be submitted, if not the LTA would be taxable. LTA is not given as a specific amount and it can vary from company to company.
However, DA is a non-variable component. variable components are allowances, incentives and bonus etc. Basic, DA, Medical ets are fixed component ina salary. HRA depends on the percentage after deciding the basic pay.
Please talk to your employer and set things at first to avoid any sort of discripency after you joining them.
From India, Visakhapatnam
Maam, please explain about superannuation benefit - i will opt out this , really are they are going to give this benifit.
From India, Bangalore
From India, Bangalore
Dear Ms. Rajeshwari,
There are many schemes and benefits on superannuation.
Superannuation is Retirement age. Usually, the Company has a link with agencies like LIC, Franklin Templeton Superannuation Fund, where their contributions are paid. The Company pays 10-15% of basic wages as superannuation contribution. There is no contribution from the employee. This contribution is invested by the Fund in various securities as per investment pattern prescribed. Interest on contributions is credited to the members account. The rate of interest is equivalent to the PF interest rate. In case, if the employee resigns in the middle (before attaining Superannuation) then he/she can transfre the funds to thenew employers superannuation account. If the new employer doesn't have any such scheme then you may withdraw the amount or can also keep the amount for attaining the maturity. Many a time companies donot provide such facilities to entry level employees but they give such benefits to higher grade-up.
Please look into the facts and speak to your family or concerned person as to their contribution and take forward.
From India, Visakhapatnam
There are many schemes and benefits on superannuation.
Superannuation is Retirement age. Usually, the Company has a link with agencies like LIC, Franklin Templeton Superannuation Fund, where their contributions are paid. The Company pays 10-15% of basic wages as superannuation contribution. There is no contribution from the employee. This contribution is invested by the Fund in various securities as per investment pattern prescribed. Interest on contributions is credited to the members account. The rate of interest is equivalent to the PF interest rate. In case, if the employee resigns in the middle (before attaining Superannuation) then he/she can transfre the funds to thenew employers superannuation account. If the new employer doesn't have any such scheme then you may withdraw the amount or can also keep the amount for attaining the maturity. Many a time companies donot provide such facilities to entry level employees but they give such benefits to higher grade-up.
Please look into the facts and speak to your family or concerned person as to their contribution and take forward.
From India, Visakhapatnam
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