I feel there is utter confusion amongst the members
about the Pay Slip cost as a result youngsters are
not being guided properly about the amount of
likely rise in the Salary. Many of the friends in the
group wanted to know the concept so I have made
an attempt to explain it.
I would like to share with friends that components
of pay slip cost include (Basic Pay+ FPP (Fixed
Personal Pay)+PQP (Professional Qualification
Pay)+ Special Pay, DA (Dearness
Allowan...ce)+HRA (House Rent Allowance)+CCA
(City Compensatory Allowance).These are the
regular payment made to employees and generally
comprised of so called Pay Slip of Month.
There are also other costs which are not included
on Payslip but paid to employees like cost of
Superannuation i.e. Provident Funds, LFC, NPS,
Gratuity, Medical reimbursement etc.
The wage load is calculated on the basis of the
cost as on 31st Mach of the year of revision. In
present case whatever increase being offered is on
the of pay slip cost as on 31st March, 2012.
In 9th Settlement pay slip cost was 10.30% out of
17.50% in increase in Establishment cost.
I am sure this information may help friends to
understand the concept..!!
January 24, 2015
Payslip Concept Clarification
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