Hi, I have query regarding the salary component... i would like to understand the component "Arrears" and what basicly comes under it??
From India, Bengaluru
From India, Bengaluru
8
Any amount pending to be paid to the employee of a previous period, paid in current period is known as arrears
From India, Ahmadabad
From India, Ahmadabad
Thank you so much for your reply... Just 1 more clarification, can i adjust that part of salary which company holds with it (i.e 10 days salary in my company) as arrears in salary slip which it pays when the employee leaves the company.
From India, Bengaluru
From India, Bengaluru
But why do you/company want to hold a meager amount (10 days salary) till the employee leaves the company, any particular reason ??.
From India, Ahmadabad
From India, Ahmadabad
Saji.... Company has actually made their pay cycle from 21st to 20th of next month (way before me joining), due to their previous exp of emloyee's leaving without intimation after getting salaries on 1st of the month. The logic in that was at least for their 10 days salary people will start inimating or will start going for notice before leaving abruptly.
From India, Bengaluru
From India, Bengaluru
If the pay cycle is from 21st to 20th of next month then the rest 10 days are paid in the next pay cycle so in such case there is no arrear.
From India, Ahmadabad
From India, Ahmadabad
Dear Saji,
I think what the poster mentioned as "pay cycle" by way of clarification is actually the one month wage period of the company commencing from the 21st of the previous month and ending with the 20th of the next month. If it is so, the entire salary for the month has to be disbursed within the next 7 or 10 days as the case be i.e., within the last day of the month. The actual issue raised by the poster is with holding of the 10 days salary till the end of the next wage period and showing it as "arrears" in the pay-slip of the next month, in case the employees continue in the services of the Company. It is illegal.
From India, Salem
I think what the poster mentioned as "pay cycle" by way of clarification is actually the one month wage period of the company commencing from the 21st of the previous month and ending with the 20th of the next month. If it is so, the entire salary for the month has to be disbursed within the next 7 or 10 days as the case be i.e., within the last day of the month. The actual issue raised by the poster is with holding of the 10 days salary till the end of the next wage period and showing it as "arrears" in the pay-slip of the next month, in case the employees continue in the services of the Company. It is illegal.
From India, Salem
Yes Sir, since the pay cycle is designed for 1 month i.e. from 21st to 20th of next month, the rest 10 days of the month cannot be treated as arrear since it will feature in the next pay cycle. Showing Arrear of 10 days in payslip in every month is not logical to the best of my understanding. Even we have pay cycle starting from 26th of a month to the 25th of the next month, wherein we treat the last 5 days as full attendance of every employee and if any employee is absent during this period i.e. last 5 days of the month it is deducted/calculated as leave for the next pay cycle.
From India, Ahmadabad
From India, Ahmadabad
DEAR FRIENDS,
WE MANUFACTURING FANCY CRACKERS AT SIVAKASI.NOW WE ARE GOING TO MOVE ON NEXT STEP IN ALL THE ASPECTS. SO WE HAVE TO DECIDE FOLLOWING POSITION HELPS TO GO UPWARD
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IT MANAGER(BOTH HARDWARE AND SOFTWARE PROFICIENCY)
PRODUCTION MANAGER
KINDLY REFER YOUR FRIEND FOR MORE DETAILS CONTACT
MR VIJAYAKUMAR.K-8220880550
From India, Chennai
WE MANUFACTURING FANCY CRACKERS AT SIVAKASI.NOW WE ARE GOING TO MOVE ON NEXT STEP IN ALL THE ASPECTS. SO WE HAVE TO DECIDE FOLLOWING POSITION HELPS TO GO UPWARD
CHIEF OPERATING OFFICER WITH ERP KNOWLEDGE
IT MANAGER(BOTH HARDWARE AND SOFTWARE PROFICIENCY)
PRODUCTION MANAGER
KINDLY REFER YOUR FRIEND FOR MORE DETAILS CONTACT
MR VIJAYAKUMAR.K-8220880550
From India, Chennai
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Salary-Note.doc
SALARY SHEET CALCULATION.xls