Respected Seniors,
We have to revise the in-hand salary of Rs. 14k for an employee. However, since the employee falls under the ABRY scheme, the Manager has instructed me to display an in-hand salary of 14k by including the employee's PF in the hand salary. This adjustment will make it appear as 14k.
Incorporating Adjustments in the Salary Revision Letter
When issuing a Salary Revision letter to the employee, how should I incorporate this adjustment in the compensation structure? Your guidance on this matter would be greatly appreciated. Please advise.
From India, Pune
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2We have to revise the in-hand salary of Rs. 14k for an employee. However, since the employee falls under the ABRY scheme, the Manager has instructed me to display an in-hand salary of 14k by including the employee's PF in the hand salary. This adjustment will make it appear as 14k.
Incorporating Adjustments in the Salary Revision Letter
When issuing a Salary Revision letter to the employee, how should I incorporate this adjustment in the compensation structure? Your guidance on this matter would be greatly appreciated. Please advise.
From India, Pune
Acknowledge(0)Amend(0)
ABRY Scheme and Salary Slip Adjustments
As ABRY is availed by the employer, there is no need to issue any letter. Instead, the salary slips will contain EPF deduction as 0 and mention ABRY.
At any point in time, if the employer becomes ineligible due to a manpower reduction, the benefit will be wiped off. In that situation, the normal deductions as before would be applicable.
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As ABRY is availed by the employer, there is no need to issue any letter. Instead, the salary slips will contain EPF deduction as 0 and mention ABRY.
At any point in time, if the employer becomes ineligible due to a manpower reduction, the benefit will be wiped off. In that situation, the normal deductions as before would be applicable.
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Salary Revision formulas- CA.doc
Salary Revision.xls