Hi All Seniors,
I have one confusion for Deduction 1 Month notice period in Full & Final Settlement.
as per company salary structure we have included Bonus & LTA Amount in CTC.
Now, my question is that when employee has left the organisation without 1 month Notice Period so in this case we will deduct 1 Month Notice Period on his Gross Salary.
so I want to know that can we recover 1 Month BONUS & LTA in his 1 month notice period.
basic concept is that Can we deduct 1 Month notice period on CTC??
Can we deduct 1 Month CTC amount insted of 1 Month Gross Amount??
From India, Mumbai
I have one confusion for Deduction 1 Month notice period in Full & Final Settlement.
as per company salary structure we have included Bonus & LTA Amount in CTC.
Now, my question is that when employee has left the organisation without 1 month Notice Period so in this case we will deduct 1 Month Notice Period on his Gross Salary.
so I want to know that can we recover 1 Month BONUS & LTA in his 1 month notice period.
basic concept is that Can we deduct 1 Month notice period on CTC??
Can we deduct 1 Month CTC amount insted of 1 Month Gross Amount??
From India, Mumbai
Ref the appointment letter issued. Normally, it is on basic. some companies stipulate as gross salary. Pon
From India, Lucknow
604From India, Lucknow
Are you paying bonus and LTA on monthly basis ?
If not, how can you deduct it from a months notice pay ?
You are getting confused between CTC and wages. Wages is gross wages / salary. Your notice pay will be computed on gross wages only. It does not matter what your CTC is. Those are costs not actually incurred until they are paid.
From India, Mumbai
If not, how can you deduct it from a months notice pay ?
You are getting confused between CTC and wages. Wages is gross wages / salary. Your notice pay will be computed on gross wages only. It does not matter what your CTC is. Those are costs not actually incurred until they are paid.
From India, Mumbai
Hello Nayan_patel,
Like Saswata & Pon mentioned, it's on the Gross salary.
Many Companies....especially IT.....even include the Variable part of the salary [that's never usually paid in full at the end of year] in CTC. This is what you mentioned as Bonus......where's the guarantee that your company WILL pay the Bonus? After all, it depends on a whole lot of factors, many that are not in the company's control.
First of all, can you pl explain the origin for this query? Why did you get this doubt? Is there any Management suggestion to do so?
Rgds,
TS
From India, Hyderabad
Like Saswata & Pon mentioned, it's on the Gross salary.
Many Companies....especially IT.....even include the Variable part of the salary [that's never usually paid in full at the end of year] in CTC. This is what you mentioned as Bonus......where's the guarantee that your company WILL pay the Bonus? After all, it depends on a whole lot of factors, many that are not in the company's control.
First of all, can you pl explain the origin for this query? Why did you get this doubt? Is there any Management suggestion to do so?
Rgds,
TS
From India, Hyderabad
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Amendment to Payment of Bonus Act 2015.jpg
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Bonus-amendment _206.doc