Please go through the following enactments before you develop pay structure:
1. Minimum Wages Act,
2. Payment of Bonus Act
3. A P Shops and establishments act,
4. PF Act
5. ESI Act
6. Sec 80C of IT act
You will get comprehensive knowledge, as to how to go about in pay structure fixation.
Hope you will enrich yourself.
V V Prasad CS
From India, Hyderabad
1. Minimum Wages Act,
2. Payment of Bonus Act
3. A P Shops and establishments act,
4. PF Act
5. ESI Act
6. Sec 80C of IT act
You will get comprehensive knowledge, as to how to go about in pay structure fixation.
Hope you will enrich yourself.
V V Prasad CS
From India, Hyderabad
DEar Mr. Prashad, Can you provide me the DA point for Last year 2009. for Gujarat. Regards, Ashish
From United States, Santa Clara
From United States, Santa Clara
Hi Friends,
Looking forward to your suggestions on pay structure of an IT company, number of employees are less than 20. Is PF applicable to such company? Does Minimum Wage Act applicable to IT& Software companies?
Regards
Charu Trehan
From India, Lucknow
Looking forward to your suggestions on pay structure of an IT company, number of employees are less than 20. Is PF applicable to such company? Does Minimum Wage Act applicable to IT& Software companies?
Regards
Charu Trehan
From India, Lucknow
Mrs Deepti Bandi,
I am happy for your evincing interest in the legislations for knowledge gain. I would similary advise HR friends to acquire legal knowledge as well for HR many a times is dictated by enactment.
A few tips to facilitate your going through the legislations:
1. Minimum Wages Act is applicable only for employees drawing salary upto the limit prescribed in the act. Namely, it would be around Rs.6500/- pm based on your locational zone and nature of individual's designation.
2. For these posts, as per minimum wages requirements, DA is compulsory.
3. For the employees drawing more than this Salary, You need not implement DA.
4. The perview of Labour department ceases after this limit.
Upto this limit simply follow the DA schedules released by the Labor department. Beyond that you need not follow DA, as it would be combursome.
Once you complete pay structure upto this stage, you will gain first hand knowledge. Better to take up development of pay structure beyond this limit, subsequently.
V V Prasad CS
From India, Hyderabad
I am happy for your evincing interest in the legislations for knowledge gain. I would similary advise HR friends to acquire legal knowledge as well for HR many a times is dictated by enactment.
A few tips to facilitate your going through the legislations:
1. Minimum Wages Act is applicable only for employees drawing salary upto the limit prescribed in the act. Namely, it would be around Rs.6500/- pm based on your locational zone and nature of individual's designation.
2. For these posts, as per minimum wages requirements, DA is compulsory.
3. For the employees drawing more than this Salary, You need not implement DA.
4. The perview of Labour department ceases after this limit.
Upto this limit simply follow the DA schedules released by the Labor department. Beyond that you need not follow DA, as it would be combursome.
Once you complete pay structure upto this stage, you will gain first hand knowledge. Better to take up development of pay structure beyond this limit, subsequently.
V V Prasad CS
From India, Hyderabad
M/s Computer Vision Laboratories India Pvt. Ltd. 2nd Floor, Plot #4, Motilal Nehru Nagar, Begumpet, Hyderabad - 500 016.
From India, Hyderabad
From India, Hyderabad
Don't give DA better give CTC with the follosing combination
basic, HRA, conveyance,LTA,PF,medical reimbursement,reimbursement of premium paid for mediclaim policy. If you give driver salary petrol, instalment etc is all taxable and you will land up in to problem.
From India, Madras
1basic, HRA, conveyance,LTA,PF,medical reimbursement,reimbursement of premium paid for mediclaim policy. If you give driver salary petrol, instalment etc is all taxable and you will land up in to problem.
From India, Madras
Hi
I am working in a Software testing company
Can you help me out to know which acts are mandatory to be adhered to in this case as well as Pay structure & statutory reports required for such company
From India, Pune
I am working in a Software testing company
Can you help me out to know which acts are mandatory to be adhered to in this case as well as Pay structure & statutory reports required for such company
From India, Pune
I have a quary with DA. My CTC consists of Basic + DA and I m working in a organization from past 2 years. Does my CTC should also increase if DA % increases?? I am into service provide industry and can work or cannot work in a plant depending on the project i m put into.
Thanks.
Mayank
From India, Pune
Thanks.
Mayank
From India, Pune
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Designing pay Structure, Levels, and Mix.ppt
Pay structure.xls