Hi, At present in our company, the PF is calculated on BASIC (50%) + DA (34%) total of 84% on gross.
Now, we would like to change the PF calculation only on basic i.e. 50% and would like to change the pay scale structure.
Please advise me on how to take it forward, in the middle of the year can we change our pay scale structure, or need to wait till the next financial year.
Request you to kindly help to resolve the same.
Regards,
Sreedevi
From India, Hyderabad
Now, we would like to change the PF calculation only on basic i.e. 50% and would like to change the pay scale structure.
Please advise me on how to take it forward, in the middle of the year can we change our pay scale structure, or need to wait till the next financial year.
Request you to kindly help to resolve the same.
Regards,
Sreedevi
From India, Hyderabad
4260
What Mr. Madhu T K has been posted, I would like to add that you can change your remuneration structure in the mid of the year keeping in mind Mr. Madhu's above advice.
Instead of Basic and DA , you may consider only Basic (If there is no union agreement or other compulsion) and then other allowances to decide the monthly gross without bringing it below the existing level to dissatisfy the employees.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
Instead of Basic and DA , you may consider only Basic (If there is no union agreement or other compulsion) and then other allowances to decide the monthly gross without bringing it below the existing level to dissatisfy the employees.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls