Dear all, Can anyone explain about special allowance?Special allowance is mentioned in my salary break up.Is it compulsory to add special allowance with basic salary , for the calculation of PF.
From India, Kottayam
From India, Kottayam
604
Dear Pon
Thanks for the perfect explanation !!
Companies hire candidates on a randomly agreed CTC, which is then randomly bifurcated into certain arbitrary components; and then any amount that is left-over is called special allowance.
A corollary to this is:
I hope others are able to appreciate the significance of the above.
Warm regards.
From India, Delhi
Thanks for the perfect explanation !!
Companies hire candidates on a randomly agreed CTC, which is then randomly bifurcated into certain arbitrary components; and then any amount that is left-over is called special allowance.
A corollary to this is:
If the special allowance is enhanced, basic pay gets reduced.This does not happen in companies having a well laid out compensation strategy and process, where any special allowance is meant for a specific purpose.
The implication of reduced Basic Pay in statutory benefits and deductions are immense; to the disadvantage of the employee.
I hope others are able to appreciate the significance of the above.
Warm regards.
From India, Delhi
Hi In our company we are payong , basic +hra+cinveyance+medical+special allowance. as recent amendment special allowance also has to be deduct PF. Please suggest wht to do for aviod this
What are the allowances offered to employee through partnership firm?
I am working in Partnership firm and I have to create pay-slip. PLease help me what kind of allowances I need to add in pay-slip. Our firm is not deduct the PF and ESI deductions, we only do TDS deductions.
So please help me according to new amendments
THANK YOU ALL!!
From India, Nabha
I am working in Partnership firm and I have to create pay-slip. PLease help me what kind of allowances I need to add in pay-slip. Our firm is not deduct the PF and ESI deductions, we only do TDS deductions.
So please help me according to new amendments
THANK YOU ALL!!
From India, Nabha
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Maharashtra Special allowance Notification July 14 to Dec 14.pdf