Good evening all,
What is meant by consolidated pay? As per my knowledge, it is a cumulative figure known as a fixed salary. However, based on my recent experience, employees are also being provided with traveling and other allowances (up to a maximum of 4000, which varies depending on the position within the company) in addition to the consolidated pay. In this scenario, is it acceptable to show both the consolidated salary and the allowances separately in the salary certificate?
From India, Visakhapatnam
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1What is meant by consolidated pay? As per my knowledge, it is a cumulative figure known as a fixed salary. However, based on my recent experience, employees are also being provided with traveling and other allowances (up to a maximum of 4000, which varies depending on the position within the company) in addition to the consolidated pay. In this scenario, is it acceptable to show both the consolidated salary and the allowances separately in the salary certificate?
From India, Visakhapatnam
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such, Consolidated means all inclusive. But some times, companies may pay variable benefits other than consolidated pay. Such variable benefits can be shown separately along with consolidated pay.
From India, Visakhapatnam
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From India, Visakhapatnam
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consolidated salary means the amount you get without any perks or allowances it is the fixed salary irrespective of target achieved or performance criteria etc..
From India, Hyderabad
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From India, Hyderabad
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SALARY CERTIFICATE- MINISTRY OF FINANCE's Notification on formats.docx