Hi all,
I dont know how to read a pay scale.
For eg: If a pay scale is given as : Rs. 10,000 - 470/6-12820-500/3-14320-560/7-18240....what does it mean.
It would be really great if you could help me in this regard.
Thanks and regards,
George
From India, Mumbai
1I dont know how to read a pay scale.
For eg: If a pay scale is given as : Rs. 10,000 - 470/6-12820-500/3-14320-560/7-18240....what does it mean.
It would be really great if you could help me in this regard.
Thanks and regards,
George
From India, Mumbai
Gentleman,
Its simple function....
Initial offer Basic or Consolidated Salary @ 10,000
Annual Increments @ 470 X 6 years = 2820
Annual Increments @ 500 X 3 years = 1500
Annual Increments @ 560 X 7 years = 3920
TOTAL 8240 + 10,000= 18240 Efficiency Bar....
If something else is mentioned instead of Annual Incremetns such as monthly increments or weekly increments or on achievements or any targets will be interpreated accrodingly for its meaning as per the terms and conditions of appointment letters.
This explanation is as per the market interpretation and practices this kind of pay scale is called "time scale" with increments.
But there are many more compensation modules are available apart form this.
Badlu
From Saudi Arabia
Its simple function....
Initial offer Basic or Consolidated Salary @ 10,000
Annual Increments @ 470 X 6 years = 2820
Annual Increments @ 500 X 3 years = 1500
Annual Increments @ 560 X 7 years = 3920
TOTAL 8240 + 10,000= 18240 Efficiency Bar....
If something else is mentioned instead of Annual Incremetns such as monthly increments or weekly increments or on achievements or any targets will be interpreated accrodingly for its meaning as per the terms and conditions of appointment letters.
This explanation is as per the market interpretation and practices this kind of pay scale is called "time scale" with increments.
But there are many more compensation modules are available apart form this.
Badlu
From Saudi Arabia
Dear bablu could you please explane me about this pay scale 20,000-500-21,500-700-23,600-900-26,300-1,000-29,300-1,200-32,900-1400-37,100 Regards, Monica
From India, Bangalore
From India, Bangalore
Generally such type of pay scales are adopted by Govt. authorities.
This pay scale indicates only the basic pay not the gross.
To obtain gross pay, one has to add DA, ADA, other allowances etc.
From the your above figures, starting basic pay of an employee is Rs.20,000 and yearly increment is @ Rs.500/- till it reaches to Rs.21,500/- (i.e. for the initial 3 years) and then @ Rs.700/- till it reaches to Rs.23,600/- and so on.
The same scale also indicates that an existing employee who has already completed 9 years in services, will get basic pay of Rs.26,300/- and increment @ Rs.1000/- till he reaches to the next slab.
Hope, it is clear
Regards.
From India, Hyderabad
This pay scale indicates only the basic pay not the gross.
To obtain gross pay, one has to add DA, ADA, other allowances etc.
From the your above figures, starting basic pay of an employee is Rs.20,000 and yearly increment is @ Rs.500/- till it reaches to Rs.21,500/- (i.e. for the initial 3 years) and then @ Rs.700/- till it reaches to Rs.23,600/- and so on.
The same scale also indicates that an existing employee who has already completed 9 years in services, will get basic pay of Rs.26,300/- and increment @ Rs.1000/- till he reaches to the next slab.
Hope, it is clear
Regards.
From India, Hyderabad
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Pay scale.doc
Gujarat-hc-pay- scale-.pdf