Hi Everybody,
Plz clarify this doubt of mine and suggest me a suitable solution:-
1.If an employee has Loss Of Pay(lets take 4 days) for a particular mth, can the deductions be on the BASIC SALARY.Can an organization deduct the money from the basic salary
2.Does the basic salary changes for that mth?
What does the standard HR POLICY say on this issue?
Regards,
Rivti
From India, Delhi
5Plz clarify this doubt of mine and suggest me a suitable solution:-
1.If an employee has Loss Of Pay(lets take 4 days) for a particular mth, can the deductions be on the BASIC SALARY.Can an organization deduct the money from the basic salary
2.Does the basic salary changes for that mth?
What does the standard HR POLICY say on this issue?
Regards,
Rivti
From India, Delhi
Hey,
Definetly Yaar, the salary is calculated on the basis of No. of days worked & leaves allowed excluding Loss of Pay.
Eg:
Basic = 4000
Others = 2000
for 30 days it will be full without any change
for say 25 days it will be 4000/30*25 = 3333. and 2000/30*25 = 1666.
Rgds
Deepak. M
From India, Mumbai
Definetly Yaar, the salary is calculated on the basis of No. of days worked & leaves allowed excluding Loss of Pay.
Eg:
Basic = 4000
Others = 2000
for 30 days it will be full without any change
for say 25 days it will be 4000/30*25 = 3333. and 2000/30*25 = 1666.
Rgds
Deepak. M
From India, Mumbai
Yes Rivti, it is the basic fundamental of any payroll accounting : Basic is part of total pay and loss of pay means deduction in the basic salary .There is no doubt in this. Anu :D :D :D
From India, Calcutta
From India, Calcutta
Hi Rivti,
The loss of pay would apply to all components of the salary. Thus basic pay would get affected.
If the person is eligible under the PR Act, then the PF for that month would also be affected. And the ESI, again, if applicable.
Hope this resolves your query.
Best regards
Ajay
From India, New Delhi
The loss of pay would apply to all components of the salary. Thus basic pay would get affected.
If the person is eligible under the PR Act, then the PF for that month would also be affected. And the ESI, again, if applicable.
Hope this resolves your query.
Best regards
Ajay
From India, New Delhi
Yes got ur point the loss of pay has affected my DA ,HRA,PF along with BASIC also. Thx... Regards, Rivti
From India, Delhi
From India, Delhi
hi
Yes all components of your salary get change
e.g. Basic 5000/-
Loss of days is 5.
Based on the above your basic and other components of the salary would be
5000/30*25= 4167 all other compnents of the salary(mostly in %) will be calculated on Rs.4167/- not on Rs.5000/-
:cry:
From India, Chandigarh
Yes all components of your salary get change
e.g. Basic 5000/-
Loss of days is 5.
Based on the above your basic and other components of the salary would be
5000/30*25= 4167 all other compnents of the salary(mostly in %) will be calculated on Rs.4167/- not on Rs.5000/-
:cry:
From India, Chandigarh
AS PER PRACTICE FOLLOWED THE ALLOWANCES ARE ALLOWED AT A CERTAIN PERCENTAGE OF BASIC SALARY. ONCE THE BASIC SALARY IS CHANGED FOR A MONTH, IT IS OBVIOUS THAT THE OTHER ALLOWANCES WHICH ARE ALLOWED AS PERCENTAGE WILL ALSO BE AFFECTED. BUT THE ALLOWANCES IF ANY WHICH ARE ALLOWED AS A SLAB ARE NOT AFFECTD.
DEEPAK THUKRAL
CHANDIGARH
From India, Chandigarh
DEEPAK THUKRAL
CHANDIGARH
From India, Chandigarh
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Salary-Note.doc
SALARY SHEET CALCULATION.xls