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A candidate has been selected and has been offered a Fixed one time Increment of 0.5 lacs after one year. This is only a one time affair, there after the employee will be appraised annually on performance and accordingly will be given an increment.
I am confused as to what do I call the one time salary increment of 0.5 lacs as I need to add it as a component in the candidates CTC.
12th February 2018 From India, Mumbai
As candidate is going to get increment after completion of 1 year, so you cannot mention it in current ctc, however, you can mention in as one of the clause in appointment letter.
12th February 2018 From India, Ahmedabad
Dear friend
There are two things;
1. One is salary which is fixed at the time of joining. There is nothing fixed time time increment.
2. Annual increment is further divided in two parts i.e. [i] increment is given to compensate the market rate due to change in price index to balance. There would be no increment if there is price stagnation.
[ii] increment is given for one's performance by the management.
You rather call 0.5 is salary if entire amount is payble at the end of the month or otherwise CTC if there are other compnnets in the pacakge of 0.5lacs.
13th February 2018 From India, Mumbai
Hi Hemantarora1,
You can call it ex-gratia or performance bonus.
You need to discuss with your management for inserting the same in the appointment letter
13th February 2018 From India, Hyderabad
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