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+--- Thread: components of basic salary n salary as per rules (/showthread.php?tid=1475)
components of basic salary n salary as per rules - ZAKA - 12-29-2004
aslamoalaikm to all
its my 1st post in this forum.
i wanna know abt the components of basic salary n salary as per rules. the confusion is abt inclusion of clause a of subsection 2 of section 12 of ITO 2001.if it is included in badic salary then basic salary will include bonus commission fee gratuity leave pay payment in lieu of leave etc.will anyone plz fix this problem ?
allah hafiz
zaka
- maani - 12-30-2004
hi...basic salary includes ur basic pay+allowances(that makes ur retirement benefits)
salary as per rules will include the above calculated amount + bonus +commission...
Ace
- Ali Akbar - 01-01-2005
AOA
'Salary inculdes basic salary, bonus, overtime, commission, fee, leave encashment and every allownce which forms part of salary while computing post employment benefits'
This definition is useful for Rule 5, which requires that when unfurnished accomodation is provided then amount to be included in salary will be lower of 45% of basic salary or 15% of 'salary'. Now here Salary will be according to para 1, in other words 'Salary less perqs'
For ultimate computation of salary all the perqs form part of salary.
- maani - 01-01-2005
thanks Ali Akbar...
Ace
- Ali Akbar - 01-01-2005
AOA
'Salary inculdes basic salary, bonus, overtime, commission, fee, leave encashment and every allownce which forms part of salary while computing post employment benefits'
This definition is useful for Rule 5, which requires that when unfurnished accomodation is provided then amount to be included in salary will be lower of 45% of basic salary or 15% of 'salary'. Now here Salary will be according to para 1, in other words 'Salary less perqs'
For ultimate computation of salary all the perqs form part of salary.
- maani - 01-01-2005
what is para 1...
Ace
- Ali Akbar - 01-02-2005
ya
Para 1 means Paragraph # 1 in my previous message.
- maani - 01-02-2005
will u plz mention this para one...
otherwise what can we understand about this para...
para one of which story or law....
Ace