01-01-2005, 11:34 PM
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.
'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.
