hi everybody
plz provide me list of compensation. how many attribute include in compensation.. and tell me more abt compensation....
if anybody no abt the rules and policy of pvt ltd. compnay so plz tell me.......
Regards
Amit
From India, New Delhi
plz provide me list of compensation. how many attribute include in compensation.. and tell me more abt compensation....
if anybody no abt the rules and policy of pvt ltd. compnay so plz tell me.......
Regards
Amit
From India, New Delhi
Dear Amit/Colleagues,
It should be noted from the onset that there have been a few postings on this issue-Compensation, however I could just re-cap for the purpose of refreshing our memory or add something new...
Firstly compensation has to be fair/just-that is in a case of category/status within the same Company, no dicrminatory packages based on nepotism, gender issues, favouritism.
Secondly it has to be on the average industry benchmarked to avoid massive labour/employee turnover in the private Company.
Thirdly the compensation administration itself has to be industry or professionally component oriented, for example-dressing allowance for the marketing team or TV presenter,
In addition to be fair to Management it has to be payable apart from the issue of industry benchmarking-individual private Company should be able to sustain whatever they put forward as compensation-monthly and promptly too.
Above all in summary, there exists different subheads that compensation falls:
Basic Salary
Housing Allowance
Medical Allowance
Lunch Allowance
Welfare Allowance
Transport Allowance
Drivers' Allowance
Telephone Allowance
Dressing Allowance
Entertainment Allowance
Accident-Free Allowance
Leave/Holiday Allowance
Exhibition Allowance etal
The list can go on and on, but we should note that some are indutry related while some are career and status based compensation.
Thanks
From Nigeria, Lagos
6It should be noted from the onset that there have been a few postings on this issue-Compensation, however I could just re-cap for the purpose of refreshing our memory or add something new...
Firstly compensation has to be fair/just-that is in a case of category/status within the same Company, no dicrminatory packages based on nepotism, gender issues, favouritism.
Secondly it has to be on the average industry benchmarked to avoid massive labour/employee turnover in the private Company.
Thirdly the compensation administration itself has to be industry or professionally component oriented, for example-dressing allowance for the marketing team or TV presenter,
In addition to be fair to Management it has to be payable apart from the issue of industry benchmarking-individual private Company should be able to sustain whatever they put forward as compensation-monthly and promptly too.
Above all in summary, there exists different subheads that compensation falls:
Basic Salary
Housing Allowance
Medical Allowance
Lunch Allowance
Welfare Allowance
Transport Allowance
Drivers' Allowance
Telephone Allowance
Dressing Allowance
Entertainment Allowance
Accident-Free Allowance
Leave/Holiday Allowance
Exhibition Allowance etal
The list can go on and on, but we should note that some are indutry related while some are career and status based compensation.
Thanks
From Nigeria, Lagos
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Published_draft _rules_on Employees_ compensation 3.6.2020.pdf
Plz do helping.doc