Dear all,
If an organisation has decided to induce a % "Salary Cut" with the consent of the employees for a temporary period, then how the same can be reflected on the salary slips, without changing the basic salary/ without effecting the retirals. Also at the same time we need to ensure that since the employee is already sacrificing his salary, the employee does not have to pay extra taxes due to the loss in the salary. I would require your views on how this can be deducted, under what heads and how the the employee doesn't pay full taxes since he is suffering a loss in the salary due to temporary (eg: for 3 months) loss in salary.
Since this is a sensitive issue and related to employee financials, would require your honest suggestions.
Best Regards
Puneet
If an organisation has decided to induce a % "Salary Cut" with the consent of the employees for a temporary period, then how the same can be reflected on the salary slips, without changing the basic salary/ without effecting the retirals. Also at the same time we need to ensure that since the employee is already sacrificing his salary, the employee does not have to pay extra taxes due to the loss in the salary. I would require your views on how this can be deducted, under what heads and how the the employee doesn't pay full taxes since he is suffering a loss in the salary due to temporary (eg: for 3 months) loss in salary.
Since this is a sensitive issue and related to employee financials, would require your honest suggestions.
Best Regards
Puneet