Dear All,
I am working with a logistic company from last 2 years.We give Leave Encashment,LTA,Medical and Bonus benefit in salary Package. But now our management wants to remove all these from CTC.
if it happens automatically our package will decrease.Even employess who left the organisation get each and every benefit.
Please suggest.
Shikha Mahajan
HR
From India, Delhi
I am working with a logistic company from last 2 years.We give Leave Encashment,LTA,Medical and Bonus benefit in salary Package. But now our management wants to remove all these from CTC.
if it happens automatically our package will decrease.Even employess who left the organisation get each and every benefit.
Please suggest.
Shikha Mahajan
HR
From India, Delhi
If the management wants to reduce its ctc, ther is nothing wrong with it legally.
You need to issue letters to each employee informing them of the revised ctc.
Each employee has the right to accept or reject the change. If he does not accept the revised ctc, he or she must resign and find another job.
You are not under industrial dispute act so this can not be an industrial dispute.
If the union is there, then ofcourse concurrence of the union will be required to avoid disruption.
I assume the management is increasing basic salary to compensate for the reduction in benefits. If not, then be prepared for good employees leaving for other companies. No one likes a loss of pay.
A better way probably would be to apply the rules to new employees and to change the pay structure for existing emoloyees during time of annual increment or,performance review
From India, Mumbai
2383You need to issue letters to each employee informing them of the revised ctc.
Each employee has the right to accept or reject the change. If he does not accept the revised ctc, he or she must resign and find another job.
You are not under industrial dispute act so this can not be an industrial dispute.
If the union is there, then ofcourse concurrence of the union will be required to avoid disruption.
I assume the management is increasing basic salary to compensate for the reduction in benefits. If not, then be prepared for good employees leaving for other companies. No one likes a loss of pay.
A better way probably would be to apply the rules to new employees and to change the pay structure for existing emoloyees during time of annual increment or,performance review
From India, Mumbai
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