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Basic pay fixation rules
I am regular employee of indian oil corp. ltd. my basic pay is reduced after issue of basic pay fixation letter. i have worked in the offciating capacity in the higher pay of ten percent from my existing pay for some time and after due time i got promotion in the same grade.so my earlier pay fixation is done on the increased amount of my ten percent and my real basic. but now the management have refix my basic on normal basic leaving ten percent. i would like to know whether basic once fixed can be reduced or not....
Tax on gratuity received less then 5 year service
I am working in us based mnc in hyderabad and due to business change company is planning to close there india center. company was withholding 4.81 of our basic as gratuity. as company is closeing its india center so giveing gratutity on claulation of 4.81basic x no of month worked in company even employee has not served 5 year service in company. my questions are 1is gratuity act 1972 telling anywhere that employer can t pay gratutity on less then 5 year service. 2is in come tax rule is telling anywhere that one is suppose to pay tax on gratutiy if employer is giveing it on less then 5 year service. in our case are we suppose to pay tax on it or no. regards sanjay
Does notice pay deduction should be equal to basic pay or gross pay?
Hi everyone need help in this case the company i work equalize notice period pay with basic pay which means if someone does not has to serve the notice period then he/she has to pay the amount in lieu of notice period which will be equal to basic pay component of salary breakup and vice versa. is this fixed that it should be equal to basic pay or it varies from company to company? as i have seen some organizations deducting the amount on their gross salary or net salary/take home. what exactly constitutes the basic pay the basic pay component of salary breakup or net pay gross considers as basic pay of an employee? it will be really helpful if someone can provide useful insights on this. thanks :
Basic pay hike in increment??
Hi friends can anyone tell me how the basic pay of an employee is assessed? b cos in my current company the appraisals had taken place with very marginal changes in basic pay but drastic changes in variable pay part. our salary structure comprises of basic da hra conveyance allowances like medical lta & kit allowance..entitled for pf also. is there any strong reason that basic pay should be appraised in case of increments...especially in it companies or any other concern any articles related to this also serve to take a strong position. i remember that somewhere in this informative site had read a post of basic pay helps in assessing the skill sets....not clear hope amit peer mohd shall also help me out asap.
How much should basic pay be calculated from gross salary
Hi looking at the basic pay structure my friend said that basic pay should be 70 of the salary. right now i have allotted 50 of the gross salary as basic pay. is there any law or case which guides us on this issue ? warm regards ranjeet a1bs
Can gross pay be fixed as basic pay
Dear all employers fix gross pay as basic pay. there is no bifurcation of gross pay. don t want to bifurcate basic conveyance etc. so now a days due to these reason employers are having alternative but employees suffer and the same is accepted by the statutory authority.is it justified mk verma