Dear All,
I have joined a real estate organisation and the taxation team pointed out that the current salary structure varied from individual to individual in the organisation. In light of the same, we had a revised salry structure generated which made Basic salary to be ranging from 60% maximum to 50% minimum going from bottom grade to the top grade.
In light of the above, there are changes in the basic salary of quite a number of employees as the current rate of Basic Salary for most of them was 70 - 75% of the gross.
My Question is :
Can we currently re-structure the salaries according to the revised proforma for all employees?
In case of reduction of basic will there be any legal complexities?
Please note that we have taken care of the PF aspect while considering this restructuring.
Seek your expert advise on this asap.
Regards:confused:
I have joined a real estate organisation and the taxation team pointed out that the current salary structure varied from individual to individual in the organisation. In light of the same, we had a revised salry structure generated which made Basic salary to be ranging from 60% maximum to 50% minimum going from bottom grade to the top grade.
In light of the above, there are changes in the basic salary of quite a number of employees as the current rate of Basic Salary for most of them was 70 - 75% of the gross.
My Question is :
Can we currently re-structure the salaries according to the revised proforma for all employees?
In case of reduction of basic will there be any legal complexities?
Please note that we have taken care of the PF aspect while considering this restructuring.
Seek your expert advise on this asap.
Regards:confused: