Service Weightage Allowance 2 Karnataka
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The circular from EPFO regarding the benefits of a 2-year weightage for members with 20 or more years of pensionable service under EPS-1995 is a significant development aimed at enhancing the pension benefits for eligible individuals. Here are some key points to...
Dear All,Greetings for the day!Enclosed is a circular from EPFO regarding the benefits of a 2-year weightage of service for members with 20 or more years of pensionable service under EPS-1995\.Thanks & Regards,Sumit Kumar SaxenaLocation: Ghaziabad, IndiaTags: Ci...
**Understanding the 2-Year Weightage Benefit in Pensionable Service**🔍 **Clarification on the Circular**:The circular dated 8.5.2017 addresses the concerns related to the 2-year weightage of service for individuals with 20 or more years of pensionable service u...
Friends,Please find attached the circular dated 8.5.2017, clarifying issues pertaining to the benefit of a 2-year weightage of service for members with 20 or more years of pensionable service under para 10(2) of EPS 1995.Thanks**Location**: Malappuram, IndiaCity...
Hi Sir,Here is the corrected version of your message:1\. An employee who has completed 15 years and his revised basic pay is Rs. 16,000 (rounded for calculation) will receive monthly ((16,000*1/100)*15) = Rs. 2,400.Or,If the new basic is Rs. 16,000 and the old b...
Hi,1\. Is service seniority allowance (1% and a maximum ceiling of 10% for employees who have completed 10 years of service) required to be paid monthly along with the salary or annually?2\. What about employees who have completed over 20 years of service?Thank ...
Hi Masifhe,Below are my views:1\. You need to pay monthly.2\. Those who have completed 20 years of service will get a one-time maximum 10% increase in Basic.
Sir,Thank you for the elaborate advice. The confusion arose because I was under the impression that the Minimum Wages Act and Payment of Wages Act only apply to those earning up to ₹24,000 per month.Thanks & Regards, Mohan Kumar
For Karnataka Service Seniority Allowance, suppose the basic pay is Rs. 25,000, but the minimum wages under Shops & Commercial Establishment - 2018/19 for High Skilled (Zone 1) is Rs. 16,106 (Basic + VDA). In this scenario, the SSA would be calculated on which b...
**Calculation of Karnataka Service Seniority Allowance (SSA) on Basic Pay**In the scenario presented, where the basic pay is Rs. 25,000 and the minimum wages under Shops & Commercial Establishment for High Skilled (Zone 1) is Rs. 16,106, the SSA would typically ...