Dear sirs/madam,
am shanker new joined in an company as HR Executive.the thing is VDA points are changed from October 2013 & april 2014 so my request is please give me explanation on VDA & can you help how to calculate it & what is format.because of we have to pay VDA amount to our employees with april month wages.by may 05 2014.
With best regards
shanker Nadimidoddy
+91 9985389331
From India
am shanker new joined in an company as HR Executive.the thing is VDA points are changed from October 2013 & april 2014 so my request is please give me explanation on VDA & can you help how to calculate it & what is format.because of we have to pay VDA amount to our employees with april month wages.by may 05 2014.
With best regards
shanker Nadimidoddy
+91 9985389331
From India
Dear Shankar,
Question: VDA points changed from Oct 13 & April 14
Ans: VDA is calculated on bases basis of Consumer Price Index points which is calculated issued on the the basis of price rise by the Statistics department of the Government. We can not calculated it but we have to follow the points issued by them.
VDA Calculation : If , Basic Rs. 3977.00, VDA = difference in points (5780-3944)1836xpaise(0.03)xdays(360)=1652.40.
.....Books regarding this are already available in the market...........
From India, Bangalore
3Question: VDA points changed from Oct 13 & April 14
Ans: VDA is calculated on bases basis of Consumer Price Index points which is calculated issued on the the basis of price rise by the Statistics department of the Government. We can not calculated it but we have to follow the points issued by them.
VDA Calculation : If , Basic Rs. 3977.00, VDA = difference in points (5780-3944)1836xpaise(0.03)xdays(360)=1652.40.
.....Books regarding this are already available in the market...........
From India, Bangalore
Dear Shanker,
From your submission it appears that VDA of your organization is reviewed 6 monthly. This is not equal for all organizations. It varies. It may be monthly, quarterly, 6 monthly or yearly. It also depends on base year and the rate of monetary neutralization (Formula )
Please study the VDA scheme of your organization and act accordingly.
Thanks & Regds.,
S K Bandyopadhyay (WB, HOWRAH)
From India, New Delhi
From your submission it appears that VDA of your organization is reviewed 6 monthly. This is not equal for all organizations. It varies. It may be monthly, quarterly, 6 monthly or yearly. It also depends on base year and the rate of monetary neutralization (Formula )
Please study the VDA scheme of your organization and act accordingly.
Thanks & Regds.,
S K Bandyopadhyay (WB, HOWRAH)
From India, New Delhi
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