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Gratuity
Dear hr friends i am seeking a clarification/correct rules applicable on gratuity amount. a portion say rs 1000.00 is shown in the annual ctc breakup and the same i understand is kept aside. this is neither reflected in the salary nor i ahe any ack stating that this is being deduced from my ctc. i believe the said amount is deemed to be kept aside while i have not recd in either form. my querries are as follows to get an insight into this problem. 1. is it legally right to use the word gratuity under the ctc breakup and bea part of my ctc. i understand gratuity is more like a loyalty amount eligible to an employee after completion of 5 years or 4 years and 240 days. 2. in my case since it is part of my ctc when will i be eligible to claim? 3. should a min of 5 years / 4 years 240 days is a must? 4. as and when i leave within 4 years can i get back this amount from my employer since it is part of my ctc meaning no of months worked times amount and deduced by the management i need the opinion / rules for my senior hr luminaries so that i need not get carried away by one sided thought process. look forward to your replies srinivas
Gratuity rules for trainees paid stipend
Dear sir suppose if an employee does the service for 6years in which first year he was only getting stipend.my question is the whether first year is considerable for gratuity or he will be paid gratuity for only 5 years. regards manoj pandey
Reg:gratuity deduction % while making ctc
Dear sir/madam i have one doubt on gratuity deduction while making ctc ctc breakup. note: my doubt is not what is the formula for calculating gratuity while giving back to employees after 5 years 1. what is of gratuity deduction from ctc ? 2.is that 4.81/ 4.83 4.85 calculated on or ? thanks & regards susanta
Gratuity deduction
Hi all can employer deduct gratuity from employee s per month salary? if yes than what happens if that employee leaves company before completing 5 years? i know that gratuity is a part of ctc but what if company has not mentioned any gratuity amount in ctc breakup and still deducting gratuity?
Is salary breakup necessary under law?
Dear seniors our company follows a salary structure with the breakup with components like basic hra conveyance & other allowance forming the gross salary. pf esi & professional tax is deducted as per rules & this forms the employee s take home. my management wants to review this salary breakup.i would like to know whether : 1 salary break is compulsory under law? if so can you provide the rule which states so? 2 say i am paying an amount rs. 18000/ to an employee as per my current salary structure this 18000 becomes the ctc 60 of ctc forms the basic 40 of basic forms the hra and the remaining is divided proportionately into conveyance & other allowance and pf & esic deducted as per rules. my question is can i consider 18000 just as it is without providing any breakup and if the employee is eligible for pf & esi we are ready to pay this. 3 all i want to clear is what is the purpose of a salary breakup other than to exempt employees above pf esic limits from the same? does any rule state that salary has to have a breakup? 4 what about pf & esi rules. is that mentioned anywhere that wages should necessarily be basic and gross respectively. i mean if the employees' salary is say rs. 14000/ can i not pay both pf & esic on 14000? we are not in the favour of violating any laws we were just curious to know the exact rule which governs the various components of salary structure??? actually i took 3 examples with different salary range and explained to my management that by considering the remuneration paid to an employee say rs. 18000/ as a fixed amount without any breakup we are violating the law because in this case we are deliberately placing the employee out of the purview of both pf & suppose we take salary of rs. 14000/ and pay both pf & esic on this amount we end up paying a higher pf & esic as a breakup of the same into gross and basic would have resulted in a smaller amount being paid. with a staff strength of more than 270 employees we will end up paying substantially in pf & however my boss wants me to back up my answer with the laws & statutes.please guide me with your inputs. i know that breakup of salary structure is the norm in industries but what if the breakup is not there???
Plz help me in deciding the ctc breakup (18 lpa)
Hi can some one help me to decide the ctc breakup for my salary. i am the director and promoter of a pvt ltd company in noida. i m planing to go for a ctc of 18 lpa please breakup this slary for maximum tax benefits. regards pradeep