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Can someone rejoin TCS
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It's implemented, go and read new labour code..don't just follow news channels 50% basic thing.. it's not basic but wages as per new labour code
Its 50% basic rule say.
The 50% Wage Rule: Basic salary must be at least 50% of the Cost to Company (CTC). This directly raises the minimum contribution requirements for employee retirement funds and gratuity.
This is concerning bcz knowing tcs I don’t think they will pay 100% monthly performance pay now. What u think? Pls help, I have joining on 1st June
No BOB , so no Sodexo?
Rising Star
bro ... I am B.com ... i can explain what happened...
Basic Salary does not mean that exact "Basic salary" in compensation... Basic Salary consists of 2 to 3 components....
Basic = Basic pay + HRA + other Allowances like DA...
for private emp. no Dearness allowances... so This time your basic pay is like Basic + HRA..... but loophole is , to calculate PF gratuity ...HRA will not be taken... in Govt structure.... basic is 50% ..then hra will be added ...but for private employers they have used HRA heavily to comply 50% govt. policy...
add your basic pay + hra ... you will see more than 50%
That true. They have used loopholes
Please read the new compensation policy in HR Hub in Ultimatix