I am Shanker, newly joined in a company as an HR Executive. The issue at hand is that VDA points have changed from October 2013 to April 2014. Therefore, my request is for an explanation on VDA. Could you also assist me in understanding how to calculate it and provide the required format? This is crucial as we need to include the VDA amount in our employees' April month wages by May 5, 2014.
With best regards,
Shanker Nadimidoddy
[Phone Number Removed For Privacy Reasons]
From India
Acknowledge(0)
Amend(0)
With best regards,
Shanker Nadimidoddy
[Phone Number Removed For Privacy Reasons]
From India
Acknowledge(0)Amend(0)
Understanding VDA Points Change
VDA points have changed from October 2013 to April 2014. Here's an explanation of how VDA is calculated:
VDA Calculation Method
VDA is calculated based on the Consumer Price Index points, which are issued by the Statistics Department of the Government based on the price rise. We cannot calculate it ourselves but need to follow the points issued by them.
Example of VDA Calculation
If the Basic is Rs. 3977.00, the VDA is calculated as follows:
VDA = (difference in points (5780-3944) x 1836 paise x 0.03 x days (360)) = 1652.40.
Books regarding this topic are already available in the market.
Regards,
From India, Bangalore
Acknowledge(3)
Amend(0)
3VDA points have changed from October 2013 to April 2014. Here's an explanation of how VDA is calculated:
VDA Calculation Method
VDA is calculated based on the Consumer Price Index points, which are issued by the Statistics Department of the Government based on the price rise. We cannot calculate it ourselves but need to follow the points issued by them.
Example of VDA Calculation
If the Basic is Rs. 3977.00, the VDA is calculated as follows:
VDA = (difference in points (5780-3944) x 1836 paise x 0.03 x days (360)) = 1652.40.
Books regarding this topic are already available in the market.
Regards,
From India, Bangalore
Acknowledge(3)Amend(0)
Dear Shanker,
From your submission, it appears that VDA of your organization is reviewed every 6 months. This frequency is not consistent across all organizations; it varies. The review frequency may range from monthly, quarterly, every 6 months, to yearly. It is also influenced by the base year and the rate of monetary neutralization (Formula).
I recommend studying the VDA scheme of your organization and taking appropriate action based on your findings.
Thanks & Regards,
S K Bandyopadhyay (WB, HOWRAH)
From India, New Delhi
Acknowledge(0)Amend(0)
From your submission, it appears that VDA of your organization is reviewed every 6 months. This frequency is not consistent across all organizations; it varies. The review frequency may range from monthly, quarterly, every 6 months, to yearly. It is also influenced by the base year and the rate of monetary neutralization (Formula).
I recommend studying the VDA scheme of your organization and taking appropriate action based on your findings.
Thanks & Regards,
S K Bandyopadhyay (WB, HOWRAH)
From India, New Delhi
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Safety Index calculation work sheet.pdf
SALARY SHEET CALCULATION.xls