Compensation Rules,design & Guidelines - PDF Download

Hi Friends, Here is Compensation rules,Design & Guidelines. Please see the attachment. Keep Smiling........ mahesh k prasad

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COMPENSATION_Guidelines[1].pdf (60.5 KB, 3959 views)

Hi Kunal, This file is not corrupted , but is in latest version of PDF However i am attaching the same in word file for you all. Regards mahesh kprasad

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COMPENSATION RULES AND DESIGN GUIDELINES.doc (72.5 KB, 2495 views)

Hi I have some doubts.
I am balaram from Vizag - a Dist HQ of AP.
1. EPF is 13.61% for employer where it has mentioned as 13.75% ?
2. Does any one / some / whole (except HRA) differ from State to State ?
3. Gratuity is 15 days of last month pay...or ...basic ?
Please reply soon.

Hi Balaram, What you have asked is all correct. It varries from state to state regarding HRA Gratuty = Basic+DA/26X15XNo of years service PF is correct Regards mahesh

Hi,
Just to add,
Food coupons are completely tax exempt with no upper limit + doesnot attract FBT also. Though the management has to be sensible enough in deciding the limit bandwise and capping it.
Gift vouchers are tax exempt with no upper limit but definitely attracts FBT.
regds,
Sona

Hi Mahesh,
you have really given a wonderful description of the compensation and the guidelines. Thanks for sharing.
I hope you may also help us for further queries.
by the way, may i know your current company?
Regards,
Meghamadhulika

Hi Meghamadhulika,
I am working with Comart Group of companies Headquarterd at Mumbai having its branches at Bangalore & Gurgaon.
My pleaseure , you are most welcome for any help.
Many Thanks & Regards
mahesh k prasad

Hi This is purnima. Ineed some help regarding Confirmation Appraisal System.The format for it the procedure a& practices that are followed. Kindle help me.

Hi Mahesh,
I was going through the attachment on the salary break up. I have a few questions, could you please help me out.
First, can we include a component called festival allowance in the fixed part of the salary and will it be taxable.
Second, do gift vouchers (Max Rs.5000 p.a) call for income tax on the part of the employee.
I have been working on a new salary structure and trying to introduce a few new reimbursement components which should not be taxable. We have at present, medical reimbursement, book & periodical and LTA. Could you please suggest some more.

Hi Purnima, Please clear i did not understand Confirmation appraisal. What esactly you want to know is it Employees confirmation 0r appraisal system? Regards mahesh k prasad

Dear Mahesh, Its wonderful information.Thank you very much.Also kindly send me the updated PT slabs and minimum wages for Maharashtra. Regards, Keshav Reddy

Hi Araktim, Festival allowance added in part of fixed salary is taxable. Gift voucher upto 5000/- is not taxable. Regards mahesh

HI Mahesh, Thanks for this useful piece of information. Can you please update this information as per the recent changes for financial year 2008-09? Looking forward to your response.

Hi,
I am doing compen ben study in one of the companies...just have a small query...Instead of putting as special allowance, can an employee select his own benefits( entertainment, gym etc) nd pay the fringe benefits himself...This would be win-win for both
employer-easy to retain talent nd no additional tax burden
employee- specail allowance will have more tax burden than paying FBT on other benefits

Hi Mahesh,
This is Jayana working in IT comapny as Sr. HR Exe
It is really help ful detail.
I would like to know about leave policy also- If any one has resinged, tehn can he/she use his EL during resignation period:)

Hi Jayana An employee who have resigned & serving notice prd can not avail any leave in his notice prd. if he availed it will be treat as LWP. Rgds Dinesh Neg

Hello Prasad, It was a good post.But is there any new clause as per which there will be a deduction of PF on special allowance as well? Do you have any clue on this? With regards, Swarali

Hi All which allowances are not applicable for Income Tax.Is there any other chences to get tax redumption. Regards Sivakumari

Hi,
Thanks Mahesh for sharing such information. I however want to check what is the kind of documentation required for handling the tax liability from the accounts perspective?
This is required to revamp the existing C&B structure to a more employee friendly breakup
Regards,
Arunima

hi,
Thank you sooooooooooooo much,indeed very informative.cud anyone let me know the standard practice followed in Corporates with reg to FOOD COUPONS.Iam trying to set the limit for the same but will be glad if seniors could provide me with valuable inputs.

Hey Prasad, Thanks a lot for sharing the compensation of HR with us..... Does the same compensation structure is followed by all other organisations too??? Regards, Sonia

hi mahesh,
that was really very helpful. thanks a lot. iam doing a project on this topic. so if can help me regarding the project work it will be really helpful for me, like data, questionnaires....
thanks and regards,
kalyani

Dear All,
My friend joined from one Central Public sector Enterprise (CPSU) to another CPSU through all India Exam followed by interview. His last drawn basic pay was higher than present basic pay in new organisation.

Let me know about guidelines central govt /department of public enterprises and Supreme Court judgments if any on above subject.

Hello Prasadsir,
Very informative information, which helps a lot for students like me.
Can you please help me on Compensation - personal accident insurance and medical insurance scheme. I am trying to write policy for the same. But lot of difficulties. I have searched lot on net but did not find useful material.
Thanks & Regards,
Suvarna