477
hi,
In our company only Professional tax was deducted from the gross salary.
Now due to change in the Company name and Functioning there has been a drastic change in the salary Structure and we have HRA, Medical Allowance, LTA, PF etc, to accomodate these changes the company has modified the structure in such a way that it fits into our current Gross Package.
Due to which:
1) Basic Salary is reduced hence our Take Home is reduced.
2) Both the Employee Contribution and the Employer Contribution to PF is deducted from our Package.
3) LTA is deducted from our package.
Basically all the deductions are made from our package. This is publicly declared in the office through mails to all the employees. This is the time of Increment Since we are a MNC the increments are done in the month of January but, there is no communication on paper regarding Increment till date but, decrement is already declared on paper.
Just wanted to know whether this is all correct is there any way to make them explain that people have monthly commitments and all these amounts which are deducted from our salaries will be given back to us at the end of the Financial Year and deductions like Medical Allowance could be claimed in every three months after providing them with the bills. LTA could be claimed once in two years after providing them with the Travel Tickets.
Kindly shed some light on this and help us.
Thanks & Regards
Vasim Shah
From India, Mumbai
In our company only Professional tax was deducted from the gross salary.
Now due to change in the Company name and Functioning there has been a drastic change in the salary Structure and we have HRA, Medical Allowance, LTA, PF etc, to accomodate these changes the company has modified the structure in such a way that it fits into our current Gross Package.
Due to which:
1) Basic Salary is reduced hence our Take Home is reduced.
2) Both the Employee Contribution and the Employer Contribution to PF is deducted from our Package.
3) LTA is deducted from our package.
Basically all the deductions are made from our package. This is publicly declared in the office through mails to all the employees. This is the time of Increment Since we are a MNC the increments are done in the month of January but, there is no communication on paper regarding Increment till date but, decrement is already declared on paper.
Just wanted to know whether this is all correct is there any way to make them explain that people have monthly commitments and all these amounts which are deducted from our salaries will be given back to us at the end of the Financial Year and deductions like Medical Allowance could be claimed in every three months after providing them with the bills. LTA could be claimed once in two years after providing them with the Travel Tickets.
Kindly shed some light on this and help us.
Thanks & Regards
Vasim Shah
From India, Mumbai
Dear vasim.shah,
To put down frank this is not fair from the company side. You shall raise a issue to the top management directly. Again I dont know the level and the size of your company. Some company which are very much stabilized wouldnt care for the employees to the level of what a mid sized company will do because of the consideration on to the retention of their employees..
The employees of your organization shall approach the top management on the whole to put down your issues on to the monthly commitment. However the company is not suppose to deduct the pf which has to be contributed by organization from the employee. This is against the labour law. You shall approach the labour office on regards to this better than taking this to the court..
First of all do take the decision of your management for a salary raise. This might bring the dispute to neutral. Do message me in private for further more clarifications..
From India, Bangalore
To put down frank this is not fair from the company side. You shall raise a issue to the top management directly. Again I dont know the level and the size of your company. Some company which are very much stabilized wouldnt care for the employees to the level of what a mid sized company will do because of the consideration on to the retention of their employees..
The employees of your organization shall approach the top management on the whole to put down your issues on to the monthly commitment. However the company is not suppose to deduct the pf which has to be contributed by organization from the employee. This is against the labour law. You shall approach the labour office on regards to this better than taking this to the court..
First of all do take the decision of your management for a salary raise. This might bring the dispute to neutral. Do message me in private for further more clarifications..
From India, Bangalore
Our current Company size is 60 Employees in Mumbai. The company's other branches are in Brooklyn (around 230 Users); Chicago (9 Users); North Adams (50 Users); Santa Clara (3 Users); Washington DC (34 Users) so in some parts the company is in growing stage and in Mumbai definetely in growing stage since we have shifted our office location in December 2009 and even in US one branch will shift from the current location.
Eventhough the company has promised the increment it is still not on paper and after this what would be the Percentage of Increment they would be offering.
From India, Mumbai
Eventhough the company has promised the increment it is still not on paper and after this what would be the Percentage of Increment they would be offering.
From India, Mumbai
Dear Vasim,
It would also be on the company's part to give an increment in this point when the market is not doing so good. Again it lies purely on to the hands of the management of giving an increment to all employees.. About the % of increment, I can't comment on that because gain it purely depends on to your management. Normally a fixed % of 7 will be there for any industries as increment. In your case it should be more because to neutral the lack of deductions..
From India, Bangalore
It would also be on the company's part to give an increment in this point when the market is not doing so good. Again it lies purely on to the hands of the management of giving an increment to all employees.. About the % of increment, I can't comment on that because gain it purely depends on to your management. Normally a fixed % of 7 will be there for any industries as increment. In your case it should be more because to neutral the lack of deductions..
From India, Bangalore
Dear veerabhadregowda, Please do use the search tab in this community. It has loads of information to all these questions. Still you have any specific doubts, feel free to check with all..
From India, Bangalore
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Innovative HR Practices-.doc