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
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From India, Ahmadabad
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Stipend is an allowance paid to trainees, whereas consolidated salary means a salary without any breakdown such as Basic salary, Dearness Allowance, House Rent Allowance, etc. Stipend is also a consolidated sum as there will not be any breakdown for the same. Stipend is a training cost whereas a consolidated salary is a part of operational cost. Stipend will not attract EPF and ESI contributions, but Salary, even if it is a 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
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4526Regards,
Madhu.T.K
From India, Kannur
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ESI & EPF REGISTRTION DOCUMENT.doc
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