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Basic salary as per new wage code is on ctc or gross salary? can medical and travel allowance be reduced from gross salary?
Hello in the new wage code it has been mentioned that basic salary should be 50 of gross salary less allowances. my questions are in lines of that 1 while calculating gross salary is hra as an allowance be reduced from gross salary considering that the hra is 50 of basic in case of metro. 2 can medical and travel allowance be reduced from gross salary for calculating the basic salary. 3 is performancelinked bonus to be considered as part of gross salary. further if performance linked bonusif is not considered to be part of gross salary can it be as high as 30 of ctc? 4 finally what is the concept of basic salary is it on gross salary or ctc which takes into account gratuity group personal accident insurance policies performance linked bonus employer pf contribution please clarify.
Performance linked bonus - variable pay
Hi we have a performance linked bonus included in our ctc. this is equivalent to one months gross salary. and we said it is payable at the end of the year along with their appraisal. an employee left the company in december 2010. and while doing the final settlement the company did not take bonus into the f&f. the question is 1 should the company pay this bonus since it is a part of the ctc? if yes. what is the basis. if "no" what is the basis for not paying it
Dearness allowance and special allowance
Our company is based at mumbai. we do not have dearness allowance in our compensation structure but we have special allowance salary components. are dearness allowance and special allowance same for maharashtra state? do we need to calculate the pf gratuity on the basis of basic salary or basicspecial allowance ?
What is special allowance?
Dear all can anyone explain about special allowance?special allowance is mentioned in my salary break up.is it compulsory to add special allowance with basic salary for the calculation of pf.
We do not pay bonuses to employees however performance linked bonus - required for us to maintain a bonus register?
Dear all in my organization we do not pay bonuses to employees however performance linked bonus is payable to some employees those who have the component as a part of their ctc. is it required for us to maintain a bonus register?? if yes please clarify how the same is to be done. regards
To calculate eligibility for bonus, what all components are included?
My salary components includes basic pay dearness allowance special pay hra conveyance allowance. to calculate eligibility for bonus what all components are included ?? should special pay be considered for bonus calculation and pf calculation? please give reasons also.