About ctc dear all i am new joining in hr i like to know that can i inclued bonus in ctc at appointment letter if i show in appointment letter what wiil[..] 2 Replies
Bonus to be added in ctc Dear all PLease confirm whether the Bonus to be added in CTC of any employee and have to mention in appointment letter? Please help by explaining the Bonus Rules as per Bonus[..] 1 Replies
Transfer of an employee file ocuments20and20Settings/j agmohan/My20Documents/My2 0Pictures/20090305/Scan11 145.JPG An employee is working in a private company for 2.5 years and above. His employer transfer him to another place with the support of appointment letter. Because of transferable rules is mentioned[..] 2 Replies
Format for appointment letter hi guys need help with making an appointment letter what policies/ rules are to be mentioned in the appointment letter please help regards vinny 4 Replies
Appointment letter What exactly are the mandatory info to be included in an offer letter and appointment letter? If an appointment letter does not detail the modalities after a employee has resigned can the employee[..] 4 Replies
Bonus is basically for the class iv employees who draws a basic salary of less than rs. 3500 per month. this bonus is mandatory by law i.e. statutory bonus. Other bonus these days companies call it as Performance Bonus or Variable Pay..which is a much better way to express...company normally gives %age of the same and does not add cost to the CTC...This pay is actually over and above the normal earning you get as this is directly linked to achieved of certain desired objectives and KRAs....hope this will clear the air for bonus now....
Assumed my CTC has a part of Flexible B.( Flexible benefit plan), i was use to show petrol,Driver salary from my flexible which was non taxable, i just came to know that from next month onwards the maximum amount i can declare Rs. 1200 against pertrol & 600 against driver salary.
As per Payment of Bonus Act, an employee drawing a basic salary of Rs 25000 per month is not eligible to get bonus. But if the establishment is willing to pay bonus irrespective of salary, then you can pay it.
For new establishments, though the Act has given protection not to pay it for the first three years, if the establishment is willing to pay bonus, it can pay bonus.
cheers
