Please provide your expert opinion,what is the main difference between stipend and consolidated pay/salary. Dr Vipul/Yogesh Patel...AMUL..The Taste Of India
From India, Ahmadabad
From India, Ahmadabad
Stipend is an allowance paid to trainees whereas consolidated salary means salary without any break up as to Basic salary, Dearness Allowance, House Rent Allowance etc. Stipend is also a consolidated sum as there will not be any break up for the same. Stipend is a training cost whereas (consolidated) salary is a part of operation cost. Stipend will not attract EPF and ESI contribution but Salary, even if it is consolidated amount, will attract EPF and ESI, if the respective employee is covered. However, stipend paid to trainees other than Apprentices will attract EPF and ESI.
Regards,
Madhu.T.K
From India, Kannur
4193Regards,
Madhu.T.K
From India, Kannur
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