HR Corner

20th Jul 2018 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...

20th Jul 2018 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...
20th Jul 2018 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...

20th Jul 2018 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...
20th Jul 2018 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...

20th Jul 2018 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...
20th Jul 2018 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...
19th Jul 2018 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...
19th Jul 2018 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...
19th Jul 2018 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...
19th Jul 2018 PF transfer form 13	PF transfer form 13 PF transfer form 13 is a form to be filled when an employee changes his job and wants to transfer his PF amount. Employee’s who want to transfer their Provident fund amount should fill PF transfer form 13 and submit it to their respective Employ provident fund office through their previous or present employer. To fill the form for PF transfer, every employee should know that UAN number is necessary t...
19th Jul 2018 EL leave full form	EL leave full form EL leave full form is an Earned Leave which is provided for intended long leaves for the purpose of vacation, travel etc. Earned Leave or Privilege Leave is calculated on a month upon month basis for the calendar year. Earned Leave is given at the beginning of the Year to every employee, but the privilege will be comparative to the number of months worked. For example Based on employer policy, for every mon...
18th Jul 2018 ECR file format	ECR file format ECR file format is available on the internet. EPFO has launched Electronic Challan cum Return (ECR) which suggests that Employers are required to register their organizations and create their username and password through this portal. The registered organizations can upload the Electronic return and the uploaded return information will be displayed through a digitally signed copy in PDF format. It will be avai...
18th Jul 2018 Calculation of EPF pension	EPF pension calculator EPF pension calculator is used to calculate pension for the employee who has contributed for minimum 10 Years in EPF is entitled with a pension after attaining the age of 58 Yrs. PF Pension is the only source of regular income for many retired employees. Every private segment employee has a Provident fund pension account. It is very important for every employee to understand all about the EPF pension sc...
18th Jul 2018 Bonus formula	Bonus formula Bonus formula depends on Salary+DA, an employee have Paid Basic and Payable Basic every month. Paid Basic can be altered subject to attendance of an employee every month. As per the payment of Bonus Act, 1965 minimum bonus is 8.33% of basic pay earned during the accounting year and the maximum is 20%. As per this act per month, bonus-able wage or salary is Rs. 3500/-. The Payment of Bonus Act applies to every or...
18th Jul 2018 Bonus calculation	Bonus calculation Bonus calculation depends upon the percentage on which employer wants to give a bonus to its employees. Bonus calculation in India is, the minimum bonus is 8.33% of basic pay earned during the accounting year and the maximum is 20% according to the payment of Bonus Act,1965. The bonus is an incentive that is paid to an employee for his good work towards the company. The main objective to give bonus is to sha...
18th Jul 2018 Basic salary calculation	Basic salary calculation Basic salary calculation is completely based on HR policy in India. Basic salary is the core income of an employee. Basic salary is the amount paid to employees before any increases due to overtime or bonus, allowances like internet usage for those who work from home or communication allowance or reductions. Basic salary is an unchanging amount paid to employees by their employers in return for the wo...
18th Jul 2018 Attrition calculation	Attrition formula Attrition formula is a calculation of the number of items or individuals that move or vacate out of a larger, collective group over a particular time frame. Attrition rate is also generally referred to as churn rate. A word often used by human resources professionals to determine an organization’s ability to retain employees, attrition rate formula is more and more used in the marketing world to get a ...
18th Jul 2018 Attendance sheet in excel with formula download	Employee attendance sheet in excel free download Employee attendance sheet in excel free download is available on the internet. Employee Attendance Sheet is a sheet that maintains the information of the nonattendance, attendance, sick leave etc of employees for salary or payroll purpose. It includes the information of payroll heads used to compute the salary such as absent, holidays, present, late comings, on job training and...
18th Jul 2018 Appointment letter doc	Job appointment letter format free download Job appointment letter format free download is available on the internet. An appointment letter is used by organizations to provide information about the job or position that they would like to offer to an individual. It includes the information about the job roles that the applicant will be asked to do should he or she accept the offer and other terms that are related to the partic...
18th Jul 2018 Absconding mail format	Job termination letter Job termination letter legalizes the information regarding the dismissal and summarizes the information that the previous member of staff will need to know. Under standard circumstances, the supervisor or manager and a spokesperson from the Human Resources department will hold a termination meeting with the particular employee. The termination letter reviews what was said at the meeting. The termination...
18th Jul 2018 Welcome mail for new joinee	Welcome mail for a new employee: Welcome mail for a new employee is a soft copy of a document sent to the new recruit to officially welcome him/her to the company. Welcome emails are sent by the employer in order to give a warm welcome to the new employee on his/her first day. There are two types of welcome emails, one is to the existing employees informing them about a new recruit and giving them a chance to welcome their ne...
18th Jul 2018 Request for resignation acceptance letter	Resignation acceptance mail: Resignation acceptance mail is a soft copy of a letter addressed to the employee from the employer that stats the company’s acceptance towards his/ her resignation. An employee may resign the job due to various reasons but the employer should deal with the resignation process in a positive manner. Resignation acceptance mail is an acknowledgment stating the company has approved their resigna...
18th Jul 2018 Request for relieving letter after resignation	Relieving letter request: Relieving letter request is a type of formal letter asking the employer to relieve the employee from his/ her duties. Relieving letter is on the same day of the resignation. It is illegal to maintain different jobs at the same time, so relieving letters are used as a proof for these reasons. An employee writes a request letter to relieve him/ her form their duties along with resignation. The employer...
18th Jul 2018 Rejoining Letter	Rejoining letter is a requesting letter addressed to the employer asking them to rejoin the organization. If an employee quits the job due to some personal reasons and if he wishes to rejoin the organization then a letter is written to the employer with a request to join the company. But it is not easy to rejoin the organization once your resignation is accepted because the company loses faith in you and it has to go through d...
17th Jul 2018 PF withdrawal form 19 and 10c free download	Form 19 and 10C Form 19 and 10C are attached to withdraw PF, Form 10C is a form that must be filled and submitted to claim benefits under the Employee Pension Scheme. Every month some of the overall PF contributions are segmented into this Pension Scheme, and this section of the earnings from your PF account can be withdrawn with the Form 10C. Form 19 is the claim form used to claim PF amount along with accumulated interest t...
17th Jul 2018 PF form 15g	Form 15g Form 15g is a form that can be filled by a person to state that his/her income is below the taxable limit and therefore no TDS should be deducted. Form 15G and 15H are valid for one economic year. So you have to submit these forms every year if income is below the taxable limit. Submitting them each rear as soon as the financial year begins will ensure that bank does not deduct any TDS on your interest income. Clause...
17th Jul 2018 PF form 11	Form 11: Form 11 is used for declaration of a member of staff for both pension scheme and provident fund. This is the form which comprises the on boarding things for most organizations. This declaration form is required to be filled by the employee as part of the joining official procedure in an organization which is covered under Employees Provident Fund or EPF scheme as per the 1952 Act. Purpose of form 11 PF is for two obj...
17th Jul 2018 Performance appraisal questionnaire	Performance appraisal questionnaire is necessary for the efficient management and assessment of staff. Assessment helps individuals to grow, improve managerial performance, and feed into production planning. Formal performance appraisals are usually conducted yearly for all employees in the organization. Each member of staff is assessed by their associated manager, for example, Directors are appraised by the CEO, and CEO is ap...
17th Jul 2018 Payslip format in Excel	Salary slip format in excel: Salary slip format in excel can be useful as it can be modified accordingly to meet the requirements. You can change its layout; add more columns and rows change its titles to meet your own needs. This format mainly depends on your company's norms, you can add the signature at the bottom in this pay slip form or you can add a note to inform that the salary slip is not valid without signature....