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How to calculate salary from basic pay

How to calculate salary from basic pay How to calculate salary from basic pay Basic pay is the base salary of an employee. Basic salary is the cash paid to employee excluding overtime or bonus, allowances (Basic salary is a payment to the employees by their employers in return for work performance of professional duties by the individual employee. Base salary excludes bonuses, benefits or any other allowances from the employers. Basic salary is the core of the sal...

Permission Letter Format for Doing Project In A Company

Permission Letter Format for Doing Project In A Company Application format for students Application format for students acceptance to do a project in the company is something written by the company to the respective students or to the respective department head giving them permission to work on a project in the company. As a part of their academic, students of graduation or post graduation or some similar higher standards have projects to be done in companies directly. That&rsqu...

How to calculate DA

How to calculate DA HRA calculation: HRA calculation is a part of DA or dearness allowance is calculated as a specific percentage of the basic salary which is then added to the basic salary along with other components like HRA (House Rent Allowance) to make up the total salary of an employee. There is no single procedure to arrive at Salary Breakup and there are different methods followed by different organizations. HRA or House Rent Allowance i...

Employee bonus calculation

Employee bonus calculation Employee bonus calculation: Employee bonus calculation is Salary/wages and dearness allowance (DA) are covered while calculating bonus.Notwithstanding; supplementary allowances such as over-time, house rent, incentive or commission are not incorporated. Bonus rules for employee: Bonus rules for employee is defined as following In payment of Bonus a fundamental law relating to this policy of awarding bonus to the employee...

EDLI Charges

EDLI Charges PF admin charges PF admin charges are bear by both employer as well as employee. A recent notification announced by the ministry of labor and employment, the EPF admin charges are reduced to 0.65% of the total EPF wages of the respective employee. Also part of the decision was to avoid any administrative charges collected against EDLI contributors. EPF or PF is the employee provident fund which is scheme that turns very bene...

EDLI calculation

EDLI calculation EDLI calculation EDLI calculation is made on the pensionable wages but not on the full salary. EDLI which stand for Employees Deposit Linked Insurance scheme is that under which the respective employee nominee will be paid a lump sum amount in the case of death that happened naturally or because of some illness or accident. The main thought behind this EDIL is to facilitate its employees a lifetime insurance coverage thus cre...

Earned Leave Calculation

Earned Leave Calculation Earned leave calculation Earned leave calculation is made on the Basic pay of the respective employee and so may vary from individual to individual of the company. Section 79 of Factories Act 1948 is the standard referred and followed by all the companies of India, unless they have their leave policy which is better than that proposed in the act. Earned leave calculation formula Earned leave calculation formula includes a...

How to Write a Software Engineer Resume?

How to Write a Software Engineer Resume? If you are looking for a software engineer resume writing tips must read this article. You must have unique skill set, strong coding skills and exceptional programming abilities then you must know the art of making your software engineer resume standout. A good resume of software engineer will grab the attention of recruiter in less than 10 seconds. Here are some quick resume writing for software engineers. Have a look. How...

Cost to Company

Cost to Company Cost to company Cost to company is the total package offered to a candidate and is what is followed in countries like India, South Africa etc. It includes the actual salary or take home that a candidate receives and the additional expenses put on the candidate by the company. CTC can be take home in some cases depending on the company policies. Cost to company meaning Cost to company meaning itself lies in its naming, tha...

Dearness Allowance Calculation

Dearness Allowance Calculation Dearness allowance calculation Dearness allowance calculation is made on the basic salary and the amount noted is then added to the basic salary along with other components like HRA, etc. Dearness allowance was initially well known to individuals as Dearness food allowance, as it played a key role in controlling negative impact of increasing prices of food on individuals. Dearness allowance is a variable component and is incl...

Calculation of leave encashment

Calculation of leave encashment Leave encashment calculation: Leave encashment calculation is as follows for earned leaves there is no fixed rule as how much leaves can be carried forward every year or how many leaves can be encased. Most of establishments have their own rules. Usually the basic salary and dearness allowance is taken in consideration for calculation of the amount. Companies have their own policies for leave encashment in some of establishme...

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