Service weightage component in my salary - is it taxable? How are they allocating?

Hi, hope you all doing good. In my salary i am getting some amount as a "service weightage". and that clearly mentioned on my pay slip also. I did surf on the internet regarding this but could not grab a proper answer so can any one please explain what is service weightage ? is it taxable? how they are allocating that amount to every employees?
regards
kandiban

Hi,
Service Weightage", whose value depends on the employee's number of years of service in the organization. For example:
Below 3 yrs service Rs.300
Above 3 yrs, but below 7 yrs Rs. 450
Above 7 yrs service Rs.600
this amount is fully taxable.

I am doing intern in nhpl,
i would like to know how mis will help in payroll, where mis will get information regarding payroll, help me out from this, because i am working under payroll process

kindly send me what are the MIS reports involve in payroll,
i observed few like, head count, ctc report, over time report, attendance report, transfer report etc,
send me asap

Normally Basic gets increased for service weightage. There is no separate component as service weightage in payslip as per my exp.
Pon

Dear Kandiban,
Aditya is correctly said. The Service weightage amount is basing on the length of service put by the employee. It will be paid as decided in the LTA. Some organisations are including this amount in Basic and some organisations paying it as separate component.
GIRI

When are we supposed to pay this service weightage amount? Is it on completion of 1 year alongwith appraisal amount? or is it paid monthly as a component in the pay. Does this differ from state to state or applicable all over India. I want to know the procedure followed in karnataka. Is is calculated on some percentage basis or fixed amount as mentioned by a member above.
Please help on an urgent basis!!Thank you.

who completed of 240 days for that employee only we have to pay