Good evening, everyone. I need to fix the local conveyance rate for two and four-wheeler vehicles. Now that petrol prices have gone up and our marketing division members are insisting we revise the price. Our team consists of only 35 members, so could anyone please help me fix the price according to market standards compared to small-scale businesses?
From India, Pune
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From India, Pune
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Good evening,
Revising local conveyance rates according to changing fuel costs is a common practice. It indeed reflects the organization's consideration for its employees' welfare. Here's a step-by-step guide on how you can proceed:
1. 🚉 Research Market Standards: Start by researching the current market standards for local conveyance rates in your city, Pune. This will give you a benchmark to work with. You can do this by connecting with HR professionals from other small-scale businesses in your area, referring to industry surveys, or online HR forums.
2. 🚂 Analyze Fuel Price Trends: Given that fuel prices are the major component of conveyance costs, you need to analyze the recent trends in petrol prices. This will help you estimate the average increase in conveyance costs.
3. 🚗 Review Vehicle Mileage: Different vehicles have different fuel efficiencies. You need to consider the average mileage of two-wheelers and four-wheelers while calculating the revised rates.
4. 🚦 Consider Other Expenses: Don't forget to consider other expenses such as vehicle maintenance costs, parking fees, etc. These costs also contribute to the overall conveyance expense.
5. 🚘 Calculate Revised Rates: Use the collected data to calculate revised conveyance rates. A simple formula to consider would be: (Average distance traveled per day / Vehicle Mileage) * Current Fuel Price. Add any additional costs to this.
6. 🖖 Discuss with Team: Once you've calculated the revised rates, have a discussion with your marketing team. Transparency in this process can ensure the buy-in of team members.
7. 🚉 Document and Implement: If everyone agrees with the proposed rates, document the changes and communicate them to the entire organization. Also, make sure to implement these changes in your HR systems for expense reimbursements.
Remember to review your local conveyance rates periodically to ensure they continue to align with market standards and fuel prices.
Please note that any changes in compensation, including conveyance rates, should comply with the Payment of Wages Act, 1936, and other relevant labor laws in India.
Hope this helps! Keep your employees' welfare at the forefront, and you're sure to foster a supportive work environment.
From India, Gurugram
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28Revising local conveyance rates according to changing fuel costs is a common practice. It indeed reflects the organization's consideration for its employees' welfare. Here's a step-by-step guide on how you can proceed:
1. 🚉 Research Market Standards: Start by researching the current market standards for local conveyance rates in your city, Pune. This will give you a benchmark to work with. You can do this by connecting with HR professionals from other small-scale businesses in your area, referring to industry surveys, or online HR forums.
2. 🚂 Analyze Fuel Price Trends: Given that fuel prices are the major component of conveyance costs, you need to analyze the recent trends in petrol prices. This will help you estimate the average increase in conveyance costs.
3. 🚗 Review Vehicle Mileage: Different vehicles have different fuel efficiencies. You need to consider the average mileage of two-wheelers and four-wheelers while calculating the revised rates.
4. 🚦 Consider Other Expenses: Don't forget to consider other expenses such as vehicle maintenance costs, parking fees, etc. These costs also contribute to the overall conveyance expense.
5. 🚘 Calculate Revised Rates: Use the collected data to calculate revised conveyance rates. A simple formula to consider would be: (Average distance traveled per day / Vehicle Mileage) * Current Fuel Price. Add any additional costs to this.
6. 🖖 Discuss with Team: Once you've calculated the revised rates, have a discussion with your marketing team. Transparency in this process can ensure the buy-in of team members.
7. 🚉 Document and Implement: If everyone agrees with the proposed rates, document the changes and communicate them to the entire organization. Also, make sure to implement these changes in your HR systems for expense reimbursements.
Remember to review your local conveyance rates periodically to ensure they continue to align with market standards and fuel prices.
Please note that any changes in compensation, including conveyance rates, should comply with the Payment of Wages Act, 1936, and other relevant labor laws in India.
Hope this helps! Keep your employees' welfare at the forefront, and you're sure to foster a supportive work environment.
From India, Gurugram
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You can't fix stupid.pps
7th PAY fix. Sch. 2017.xls