Friday, March 5, 2010

CiteHR Human Resource Management

CiteHR Human Resource Management

Gratuity Limit raise

Posted: 04 Mar 2010 05:47 PM PST

Dear All,

Here is a good news for all working in Pvt companies. Gratuity limit has been raised from Rs.3.5 lacs to Rs10. lacs. Pl. note the following;

Ball set rolling for higher tax-free gratuity

New Delhi, March 4: The Centre has cleared an amendment whose logical conclusion is expected to exempt private sector employees' gratuity up to Rs 10 lakh from income tax.
At present, gratuity below Rs 3.5 lakh is spared the tax. Companies can pay a higher amount but income tax will have to be paid on the sum above Rs 3.5 lakh.
The Union cabinet today cleared a proposal to raise the ceiling for payment of gratuity to private sector employees from Rs 3.5 lakh to Rs 10 lakh.


As a first step, the Payment of Gratuity Act will be amended which will officially permit companies to pay more, although many are already doing so.
The next step will be more crucial: amending the income tax act so that the exemption limit could be raised from Rs 3.5 lakh to Rs 10 lakh.


"The cabinet has approved the bill seeking to amend the Payment of Gratuity Act which will be introduced in the current session of Parliament," Union labour minister Mallikarjun Kharge said.


"The proposed amendment will increase the maximum gratuity from Rs 3.5 lakh to Rs 10 lakh. The provision of the income tax act will be suitably amended for the benefit to continue," he added.


The current exemption limit of Rs 3.5 lakh on gratuity payment means that an employee putting in 35 years of service (joining at the age of 25 and retiring at 60) can avoid paying tax if his basic salary is Rs 20,000 a month. If the income tax act is amended, the basic salary on which gratuity payment will be exempt from tax can go up to Rs 57,142 a month.


Those earning still higher can get more gratuity but will have to pay tax on the excess amount.


Gratuity is a statutory benefit paid by employers to employees who have completed not less than five years of continuous service. The number of years for eligibility varies in some organisations. All establishments employing 10 or more persons have to pay gratuity.


At the time of exit — either because of resignation or retirement or death — an employee or beneficiary will be paid 15 days' salary, taking the last drawn salary as the basis, for every completed year of service.


The Sixth Pay Commission had recommended that the limit be raised to Rs 10 lakh for central government employees. The decision today is an attempt to bring parity between government and private employees.


In the last Parliament session, the Centre had amended the gratuity act to clarify the definition of an employee. Anybody who is earning a wage is classified as an employee. Teachers were also brought within the ambit of the act.
Thanks & reg

RVS Rao

Gratuity Limit Raised

Posted: 04 Mar 2010 05:46 PM PST

Times Of India dated 5th March,2010:

It has been reported that the Government has approved raising the ceiling for payment of Gratuity for Private Employees from Rs.3.50 Lacs to Rs.10 Lacs.

The decision was taken in a meeting chaired by the Prime Minister, on Thursday.

Vasant Nair

Fast Track MBA and EMBA in Pune and Mumbai

Posted: 04 Mar 2010 05:45 PM PST

Indian Management School and Research Centre, a leading Mumbai based distance education institute conducting MBA, EMBA, Fast Track MBA, DIPLOMA and PG DIPLOMA courses in various categories like Finance, Retail, Marketing, Sales, Hospital Admin, Human Resource, International Marketing, etc.
We are under operation since last eight years and our courses are well accepted among the Indian and International Industries.

Fast Track MBA - Complete within your desired period. After enrollment we will provide 1st Semester Study Material at your communication address within 10 to 15 days after your enrollment. For enrollment you have to download Admission form our website and send 3 passport size photo with photo-copies of different education certificates along with DD of respective amount.

Fees payment structure: 1st option: Pay Rs. 35000/- in one shot.
2nd option: Pay Rs. 20,000/- at the time of enrollment and pay Rs. 15,000/- within 6 months of enrollment.
3rd option: As per your convenience. Please call us for more detail.
Exam Module: 1st option: You have to appear exam at Mumbai centre.
2nd option: Online Exam (From any part of the world)
3rd option: Postal Exam (From any part of the world)
you can select any one option.
Affiliation: Programs has been designed by University of Northeast Virginia. Awaiting for your positive feedback.
For Mor Details Pl Contact
S Gopal
INDIAN MANAGEMENT SCHOOL & RESEARCH CENTRE
305/306, C Wing, "GROMA HOUSE"
PLOT No. 14C, SECTOR 19, VASHI,
NEW MUMBAI, INDIA Pin– 400705.
Mobile No -09923588256

Need assistance in recruitment ideas

Posted: 04 Mar 2010 04:31 PM PST

Hi all,

I have been trying to recruit a few people for our production department and design department. Our's is a growing SSI, with our limitations in terms of brand value, the payout to employees ( not less than the industry standard,but not too high to attract great candidates) at this point.Have tried out looking for resumes online,naukri postings, ad in the local newspaper/national paper... been 3 months but have still not been able to place the right kind of candidates. Am I missing out something ? Can anyone suggest some innovative techniques to hire candidates ?
Thanks in advance

Radha

argument for and welfare services in organisations.

Posted: 04 Mar 2010 02:45 PM PST

i want to know by learned fellows .why welfare services should be allowed or not and please state your reasons. Thank you

Get New Clients using Tools and save time

Posted: 04 Mar 2010 12:38 PM PST

Hi, You can easily get new clients from the Web by getting email addresses from web without spending any time and you should try this Email Extractor software which can give 1000's of fresh emails from Search Engines like Google, Yahoo, Bing etc or websites.

Here is software free for you all

They also have another Email Extractor Files which can even extracts emails from Resumes in Word. Doc files, Excel Sheets, PDF files.


You can even get phone numbers from the search engines using Phone Web Extractor

You can also generate Mobile Numbers for SMS marketing

I am attaching there copies also here which are free

Job opening IT Recruiter/Sr IT Recruiter

Posted: 04 Mar 2010 12:16 PM PST

Title : IT Recruiter/Sr IT Recruiter
Shift : Night Shift
Salary : Best in Industry Standards
Company : Makro Technologies
Location : Hyderabad, India

These positions are based out of our Hyderabad, India office to support US clients.

Job Description:
We are hiring IT Recruiter/Sr IT Recruiter (5 positions) with minimum 2 to 5 years experience working with Direct Clients.

Good to have experience working with security cleared candidates, Defense and Government clients.

Implementing and executing recruitment best practices across the team.

Good working knowledge on contract, contract-hire & fulltime placements of IT professionals for clients across the USA.

Expertise on W2, 1099 and C2C Tax terms.

Interested!!!

please mail your resume's to


Joining Date in Offer Letter & Serving Notice Period

Posted: 04 Mar 2010 12:13 PM PST

Hi Friends,

I would like to ask a complicated question & need your help. IT IS REALLY URGENT.

If a provisional offer letter is being issued but no date of joining is mentioned in it & they want the candidate to join within 15 days but orally says 1 month maximum they allow, what shall one do?

In the current organization the notice period is 2 months but it can be adjusted to 1 month....so now the company which sent offer letter says, someone to resign immediately & join them in 15 days....how this situation can be handled??

If the candidates believes them & put down papers, and management is not ready to relieve him in 1 month..what shall ths candidate do now?? If he leaves, he loses his important doc in his current company.

Appreciate your help.

Looking for channge in to core HR or (Payrolls)

Posted: 04 Mar 2010 11:33 AM PST

Hello Friends,
I need your suggetions.
Looking for channge in to core HR or (Payrolls). Now I am working as an Accounts Manager in IT Recruiting Company(US recruiting).
Can you please let me know the way.

WBSEDCL ASST Manager 2010

Posted: 04 Mar 2010 11:28 AM PST

Hi All

Can anybody tell about the syllabus,pattern of questions,concerned books for the forthcoming exam WBSEDCL ASST Manager Hr 2010 ,West Bengal.It will be great for all who is planning to crack the exam,Hope seniors will show some light on it.

Thanks in advance.

Saswata

0 comments:

Post a Comment