Can Monthly Variable Pay Can Attract Esi Pf
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Can we pay a minimum bonus monthly to off-roll employees?–-
Bonus can be paid once the financial year is completed, after the finalization of the balance sheet based on the calculation of Form A - Computation of the allocable surplus under section 2(4) and Form B - Set-on and set-off of Allocable Surplus under section 15...
Hi, you can pay based on their designation as per state/central rules and based on which industry they are working.–-I have corrected the spelling and grammar errors in the user's input. I have also ensured proper paragraph formatting with a single line break be...
Hi,Can anybody help in drafting a variable pay policy for the company?Regards
Variable pay is employee compensation that changes. It is often used to recognize and reward employee contribution toward company productivity, profitability, teamwork, safety, quality, or some other metric deemed important by senior leaders. This performance-ba...
Hi Vijay,Variable pay can be paid monthly, quarterly, or yearly. It all depends on company policy upon which variable pay is framed. PF, ESIC, and Gratuity will be applicable on fixed monthly components.
Dear Seniors,Kindly guide if variable pay can be paid monthly. Also, if it is paid monthly, does it attract deductions of ESIC, PF, Gratuity, etc., as annual payment does not attract all these.
Dear Friend,The CTC means an establishment's expenditure on an employee. For example, Mr. X is an employee who receives a monthly salary as follows:1\. Basic 15000 + HRA 7500 + Allowance 2500 = Rs. 25000/- GrossCash in Hand of Employee is: Rs. 25000 - PF @12% 18...
Hi all,Can an employee's contribution be deducted from gross salary each month before deducting the employer's share from monthly CTC?For example, Mr. X's monthly CTC is ₹26,8000 with the following structure:- Basic: ₹15,000- HRA: ₹7,500- Allowance: ₹2,500- PF @...
The concept of CTC is what the organization spends on the employee, not what the employee spends on themselves, either for statutory compliance (PF) or voluntarily (VPF). Therefore, the question does not arise to consider any spending by the employee as a part o...