Dear Members/Seniors,
An employee (Haryana State) has a gross salary of Rs. 10,500 per month (Basic 6300 + HRA 2520 + Conveyance allowance 800 + Education allowance 200 + Washing allowance 100 + Special allowance 580), and the length of service is 4 years 3 months & 8 days. Please help me in finalizing the exact amount of one month's notice pay and retrenchment compensation at 15 days' salary per year based on the earned services. (Management has to pay retrenchment compensation with notice pay as per the ID Act.)
Regards,
Baba Naresh
From India, Delhi
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7An employee (Haryana State) has a gross salary of Rs. 10,500 per month (Basic 6300 + HRA 2520 + Conveyance allowance 800 + Education allowance 200 + Washing allowance 100 + Special allowance 580), and the length of service is 4 years 3 months & 8 days. Please help me in finalizing the exact amount of one month's notice pay and retrenchment compensation at 15 days' salary per year based on the earned services. (Management has to pay retrenchment compensation with notice pay as per the ID Act.)
Regards,
Baba Naresh
From India, Delhi
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can any1 answer me is ESIC deduction on gross salary or on net salary like there are 30 days in month, bt employee worked on only 27 days, den esi calculated on 30 days or on 27 days?
From India, Chandigarh
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From India, Chandigarh
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ESI is deducted on Gross salary paid (except travelling allowance) if the monthly gross salary is less than or equal to 15000.
In your case, if the employee's gross salary is Rs. 10000 (for the month of SEPT 2010) and he is present for 27 days but absent for 3 days, the calculation shall be as follows:
= 10000 / 30 X 27 = 9000
ESI of 1.75% shall be Rs. 158.00
This amount has to be deducted from the Payable amount (Rs. 9000 in this case).
From India, Bokaro
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In your case, if the employee's gross salary is Rs. 10000 (for the month of SEPT 2010) and he is present for 27 days but absent for 3 days, the calculation shall be as follows:
= 10000 / 30 X 27 = 9000
ESI of 1.75% shall be Rs. 158.00
This amount has to be deducted from the Payable amount (Rs. 9000 in this case).
From India, Bokaro
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Variable Pay & Executive Compensation.pd f
Notice pay recovery certificate.doc
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