Dear team, Can you please help out with City compensatory allowance for various TIER cities in India. This is for reviewing the transfer policy to support employees in relocation. regards Manonmani K
From Hong Kong, Quarry Bay
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From Hong Kong, Quarry Bay
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Compensatory Allowance Policy for Transfers
There is no fixed criteria for making a policy for compensatory allowance on transfer. Companies do this for the betterment of employees and to support the increased cost of living for the transferred person. If the person is transferred at their own request or as part of disciplinary action, the allowances may or may not be paid at the employer's discretion.
To determine the compensation amount, there is no specific formula. It is important to understand the cost of living in the city and the price index, and then draft the policy accordingly. It is always beneficial to include such allowances as part of compensation and benefits, as it boosts the morale of employees and instills confidence in the company. Good employees are the most valuable assets of a company, and their loyalty cannot be bought.
Regards,
Harpreet Walia
From India, New Delhi
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124There is no fixed criteria for making a policy for compensatory allowance on transfer. Companies do this for the betterment of employees and to support the increased cost of living for the transferred person. If the person is transferred at their own request or as part of disciplinary action, the allowances may or may not be paid at the employer's discretion.
To determine the compensation amount, there is no specific formula. It is important to understand the cost of living in the city and the price index, and then draft the policy accordingly. It is always beneficial to include such allowances as part of compensation and benefits, as it boosts the morale of employees and instills confidence in the company. Good employees are the most valuable assets of a company, and their loyalty cannot be bought.
Regards,
Harpreet Walia
From India, New Delhi
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Compensatory Off Policy.doc