SricityHR
2

As per the recent IT guidelines 2022, is it mandatory to have the gross salary is Basic and DA - 50% of the overall ctc ?
From India, Mumbai
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Nanu1953
Ceo-usd Hr Solutions
SricityHR
Head Hr

nanu1953
297

So far my knowledge goes there is no IT guideline regarding compensation structure. If there is any, requesting to put it in this forum.

As per Wage Codes rather in all Labor Codes, the definition of wages is same.

In the first part of the definition it is inclusion list - all remuneration whether by way salaries, allowances or otherwise , expressed in money, payable to a person and includes Basic, DA & RA.

2nd part is exclusion list ( a to k) all payable items except one item no. (b) The value of any house accommodation, or of supply of light, water, medical attendance ................ which are not a payable items but included in the exclusion list.

3rd part is restriction/condition on exclusion items ( a to i ) which should be 50% of the payable
amount.

To restructure the existing remuneration structure, it will be required to start from CTC of each individual employee ( now a days available with most of the organizations) and judiciously to determine the payable items. 50% of the payable items will be Basic & DA. Rest 50% will be other monthly and annualize items including Employer's contribution to PF, Pension Fund if any etc. etc.

Some examples of non-payable items ---- Employer's ESIC contribution, Canteen Subsidy, Company providing transport to bring employees office and back, Insurance premium etc. etc.etc.

The above will vary randomly from organization to organization and employee to employee. But till date no Labor Codes have been implemented. Let us wait till the Government announces the implementation date.


S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531

USD HR Solutions – To Strive towards excellence with effort and integrity

From India, New Delhi

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views.







About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2023 CiteHRŽ

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server