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Check the attachment and feel good at least for a moment.–-I have made the necessary corrections to the user's input including fixing the spelling, grammar, and formatting issues while preserving the original meaning and tone of the message.
Hi all,I have decided to start a Quarterly Performance Review in which we will shortlist at least two lowest-performing employees from each team and issue one month of PIP to them. The one who is not successful in that one-month observation according to their PI...
Dear Swati,You appear to have a basic confusion on the concept of Performance Management System (PMS). There seems to be a zeal for the removal of people on account of under-performance, rather than measuring the business performance as a whole. The essence of P...
Dear Sandip,Retention fee/allowance is practiced by some organizations. There are several schemes. For your ready reference, I am mentioning a few:1\. It may be a lump-sum amount payable after 3/5 years (ad hoc basis).2\. 10% of CTC every year on the increased C...
To calculate the longevity bonus for an employee at x% of the yearly gross after 'x' number of years of service, when the employee's salary keeps increasing every year, you would typically use the following formula:Longevity Bonus = (Yearly Gross * x%) * xIn thi...
Dear friends,Referring to my earlier post, various allowances, perks, concessions, payments, incentives, etc., are being practiced by different firms. When saying so, I only mean to opine that they have no statutory status as mandatory or compulsory. However, th...
There is no provision in labor laws to cover the 'Longevity Bonus', except statutory bonus under the Payment of Bonus Act, i.e., 8.33% as per the norms of eligibility might apply. The 'Longevity Bonus' may be in vogue in a few units which are covered under a dif...
And if I say Retention Fee or Retainer's Fee. There are companies that give retention fees to their employees.–-If you have any further questions or need assistance, feel free to ask.
Yes, the employee can apply for a higher pension as per the EPFO (Employee Provident Fund Organization) rules in India. Here's a step-by-step guide:1\. The first step is to check whether the employee is eligible for a higher pension. According to the Employees' ...
Good afternoon,An employee resigned from service in 2006 after completing 10 years of service at the age of 46\. Consequently, he is not eligible to withdraw approximately Rs. 1.60 lakhs, which is the second part of the EPFO. He applied for a reduced rate pensio...