Hello,
This month I joined in a start up company. I am sure that company company is financially very healthy.
I came to know that, for the next three months, they are deducting the salary for 2 days (total 6 days) and they will keep it with the company and this will be given at the time on leaving the company. Came to they are going it for the sake of financial invoice adjustments.
Some (in and out of the company) told that it is comoon practise for start up companies. Is it correct that start up companies do it for first few months.
Please clarify.
Thanks,
Ranjit
From India
This month I joined in a start up company. I am sure that company company is financially very healthy.
I came to know that, for the next three months, they are deducting the salary for 2 days (total 6 days) and they will keep it with the company and this will be given at the time on leaving the company. Came to they are going it for the sake of financial invoice adjustments.
Some (in and out of the company) told that it is comoon practise for start up companies. Is it correct that start up companies do it for first few months.
Please clarify.
Thanks,
Ranjit
From India
Hi Ranjit,
Companies do retain some amount from salary under the name of "retention amount" to be given after completion of certain fixed period in the organization but have never heard about such thing before. Probably they are doing so under the head of so called "financial adjustment".
Regards,
Hiral
From India, Ahmedabad
204Companies do retain some amount from salary under the name of "retention amount" to be given after completion of certain fixed period in the organization but have never heard about such thing before. Probably they are doing so under the head of so called "financial adjustment".
Regards,
Hiral
From India, Ahmedabad
Hi Mr. Ranjith, Its fine what about esic, pf and pt? are they paying for total months in days or 28 or 29 days?
From India, Hyderabad
From India, Hyderabad
For the next three months, they will not pay for two days, i.e., Oct - will get pay for 29 days, Nov - will get pay for 28 days, Dec will get pay for 29 days.
From India
From India
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Salary-Note.doc
SALARY SHEET CALCULATION.xls