Ctc Salary 22500
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As per my knowledge and experience:CTC = Basic + HRA + Conveyance + DA + Other Allowances + PF (Employer Side) + ESI (Employer Side)Gross salary = Basic + HRA + Conveyance + DA + Other AllowancesNet Salary (Take-home pay) = Gross Salary - Canteen - PF (Employee)...
The definition of wages under the new Labour Codes (proposed) is very funny. When the earlier Acts have defined the wages as total emoluments (though there are different interpretations by learned HR professionals in this regard so as to make it just the basic s...
My simple question is WHY THIS CONFUSION? Till the exclusion part of the definition of wages, it is clear. The confusion comes when the proviso about 50% comes. If the intention is to simplify the law and simplify the words and concepts used in the earlier Acts,...
Dear Cite HR family,I hope you have a great weekend.I want to know what salary components are mandatory to include in the CTC structure.My company is registered under the "Shop and Establishment" under the Telangana government.What is the percentage that would b...
Many times, in a gratuity claim, the appellate authority has also considered a special allowance in the absence of D.A. and ordered gratuity payment as Basic + if D.A. (0) then + Special Allowance.
Dear Mr. Madhu Sir,I have explained the matter in my several earlier posts with examples. However, for your ready reference, I am once again representing the same.For example: one employee is earning 8000/- as Basic, 2000/- as HRA, and 10000/- as other Allowance...
It is always fine if you fix the basic and VDA as per the minimum wages notification and then bifurcate the amounts paid in addition to the statutory pay into components that you like such as HRA, Conveyance, and other allowances. This will be a safe way of sala...
Dear Sir,Can you please explain wages with examples, like when the employee gets overtime wages, when the employer contributes to PF, etc.? The lawmakers are not fools; I know, but they are FUNNY indeed to combine all these Acts into four codes. Not even a singl...
There is no Act in India that has explained the CTC structure of any employee or organization as a whole. It is absolutely the organization's prerogative, keeping in mind compliance with Minimum wages, PF, ESIC, etc. Only in the new wage codes has it been mentio...
After independence, this is the first time under all labor codes that the definition of "Wages" is uniformly and scientifically defined.In the first part of the definition, it is mentioned that Wages will consist of all items payable, including Basic, DA, and RA...