Dear Sirs/Madam,
I am Shanker, newly joined in a company as an HR Executive. The issue at hand is that VDA points have changed from October 2013 to April 2014. Therefore, my request is for an explanation on VDA. Could you also assist me in understanding how to calculate it and provide the required format? This is crucial as we need to include the VDA amount in our employees' April month wages by May 5, 2014.
With best regards,
Shanker Nadimidoddy
+91 9985389331
From India
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I am Shanker, newly joined in a company as an HR Executive. The issue at hand is that VDA points have changed from October 2013 to April 2014. Therefore, my request is for an explanation on VDA. Could you also assist me in understanding how to calculate it and provide the required format? This is crucial as we need to include the VDA amount in our employees' April month wages by May 5, 2014.
With best regards,
Shanker Nadimidoddy
+91 9985389331
From India
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Dear Shankar,
Question: VDA points changed from Oct 13 & April 14.
Ans: VDA is calculated on the basis of Consumer Price Index points, which is issued by the Statistics department of the Government based on the price rise. We cannot calculate it ourselves but need to follow the points issued by them.
VDA Calculation: If the Basic is Rs. 3977.00, VDA = difference in points (5780-3944) x 1836 paise x 0.03 x days (360) = 1652.40.
Books regarding this are already available in the market.
From India, Bangalore
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3Question: VDA points changed from Oct 13 & April 14.
Ans: VDA is calculated on the basis of Consumer Price Index points, which is issued by the Statistics department of the Government based on the price rise. We cannot calculate it ourselves but need to follow the points issued by them.
VDA Calculation: If the Basic is Rs. 3977.00, VDA = difference in points (5780-3944) x 1836 paise x 0.03 x days (360) = 1652.40.
Books regarding this are already available in the market.
From India, Bangalore
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i feel VDA = difference in points *CPI Please suggest.....
From India, Hyderabad
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From India, Hyderabad
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Dear Shanker,
From your submission, it appears that VDA of your organization is reviewed every 6 months. This frequency is not consistent across all organizations; it varies. The review frequency may range from monthly, quarterly, every 6 months, to yearly. It is also influenced by the base year and the rate of monetary neutralization (Formula).
I recommend studying the VDA scheme of your organization and taking appropriate action based on your findings.
Thanks & Regards,
S K Bandyopadhyay (WB, HOWRAH)
From India, New Delhi
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From your submission, it appears that VDA of your organization is reviewed every 6 months. This frequency is not consistent across all organizations; it varies. The review frequency may range from monthly, quarterly, every 6 months, to yearly. It is also influenced by the base year and the rate of monetary neutralization (Formula).
I recommend studying the VDA scheme of your organization and taking appropriate action based on your findings.
Thanks & Regards,
S K Bandyopadhyay (WB, HOWRAH)
From India, New Delhi
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