Companies deputing staffs to branches in other cities and paying them City Compensatory Allowances (CCA) depending on the classification of the City deputed-to will have to take into calculation the CCA for giving Bonus. No other allowance is included except DA & CCA.
Any coments?
No, my dear. Its the Employer's discretion. It may so happen that somewhere in between all those clauses in your employment bond, they might have also added this clause that if you are dismissed in between your bondage period for some misdemeanour then they will also recover the salary for the left-over period. So, please go through it thoroughly scrutinising each & every clause, word & sentence or take it to a proper lawyer as these are legal documents to always put you in a bind.
Quote:
Originally Posted by rakesh_409  Dear Friends,
I am joining in a new job. The employer asked me for three years employement bond. As per the terms & condition incase i want to leave before the bond expires then i have to pay them the left over period full salary. Kindly advice me is this bond only bound the employee, not the employer. Incase he fires me before the expire period what should i do. kindly advice me at this link  .
Regards.
Rakesh Kumar |
No, my dear. Its the Employer's discretion. It may so happen that somewhere in between all those clauses in your employment bond, they might have also added this clause that if you are dismissed in between your bondage period for some misdemeanour then they will also recover the salary for the left-over period. So, please go through it thoroughly scrutinising each & every clause, word & sentence or take it to a proper lawyer as these are legal documents to always put you in a bind.
Quote:
Originally Posted by Mohandas Gowda Hi Joe,
we have checked with labour department on including the bonus in pay struture and pay it monthly. but according to the department, it will be considered as advance against bonus and not bonus. so please let us know whether it is allowed to pay monthly with salry.
Mohan |
Dear Mr. Mohan,
What Labour Dept. told is correct even though Many Establishments have started following these principles to save from year-ending Bonus blues. But, you can pay subject to reconcilliation with Bonus provisions declared for your Company.
Regards
Quote:
Originally Posted by Joseph Karthick Raj Dear All,
Need your help friends!!!!
Currently, we have openings for fresher (2-Tech Support, 1 - Java, 2 - .Net, 1 - Lotus Notes). Request you to send me the profiles.So that, we can shortlist the profiles. Based on the profiles, we will call them to attend a interview.
Pls let me know EDLI (insurance). what is the amount to be paid to PF depat?........ and how to define the salary structure.
Thanks
Joe
Dear Pratima,
Hope, bonus will nor give for 1 year. In my company, we hv changed the pay structure. (ie.,Basic, hra, da, Spl. all and bonus). So, if sum one joined in mid of the month, we can easily calculate the bonus.
Thanks
Joe |
Hi Joe!
EDLI i.e. Employees Deposit Linked Insurance Scheme is part of the PF Bouquet. So, statutory. Option is that you can tie up with LIC for the same & pay only 0.005% of total PF salary (maximum 6500. But if you pay to PF Office then pay @0.5% of total wages subject to a ceiling of Rs. 6500/- per month ( w.e.f. 1-06-2001 ) plus 0.01% is administration charges. No amount is recovered from employee's wages.
Ok.
Regards
Quote:
Originally Posted by somjees IF Bonus given before diwali. How I take 1 year for calculation (April to Mar) or (Nov to Oct) which is correct as per bonus act. |
November 29th is the D'day for Bonus. So, before that you have to pay Bonus. Bonus paid during a Financial year is actually paid for the previous finacial year. As you know a financial year is from 01/04 to 31/03.
Ok
Regards
Rs5304 for the year.
.