Tax Planning
Tax planning is the analysis of a financial situation or plan from a tax perspective. The purpose of tax planning is to ensure tax efficiency. Through tax planning, all elements […]
Tax Implications of Employee Compensation Package to the Employer
As a general rule, a business can claim a tax deduction for the salary, wages, commissions, bonuses, and other compensation it pays to its employees. However, compensation paid to business […]
Role of Pay Commission
The Indian government recently showed a green flag to the seventh pay commission report, and now the central, state and local body government employees are getting a hiked salary. Indian […]
International Compensation Management: Components and Approaches
Designing and developing a better compensation package for HR professionals for the international assignments requires knowledge of taxation, employment laws, and foreign currency fluctuation by the HR professionals. Moreover, the […]
Voluntary retirement scheme
is a method used by companies to reduce surplus staff. This mode has come about in India as labour laws do not permit direct retrenchment of unionized employees. VRS applies […]
Profit Sharing Scheme
Profit sharing schemes may effectively supplement other incentive plans. Profit sharing is a scheme to augment the compensation of workers through the sharing of profits of the company. Profit sharing […]
D.A. Incentives Plans
Payment of dearness allowance is made to the employees under wages/pay packet. It is paid by the employers to the employees in order to provide relief to the latter against […]
Components of Compensation
In crafting the executive compensation program, companies need to determine where they want to position their compensation relative to the market. Most want to be at the market median, while […]
Executive Compensation
A well-designed executive compensation plan focuses on a number of important objectives. It attracts and retains the talent necessary to lead complex organizations to success. It aligns the interests of […]
Issues in Compensation Management
Compensation structures are a leading issue for human resources departments in companies of all sizes. In a small business, the issue takes on greater significance, because most small business budgets […]
Theories of Compensation
The Compensation is the remuneration given to the employees for the work they do for the organization. In other words, an employee is entitled to both the financial and the […]
Job Grading
Grading method is also known as ‘classification method’. This method of job evaluation was made popular by the U.S. Civil Service Commission. Under this method, job grades or classes are […]
Monetary and Non-Monetary Rewards
Monetary Rewards Monetary rewards are the incentives given to the employees of the organization in the form of money. Some employees are motivated only if there is money element involved. […]
Compensation and Organizational Strategy
Organizations use a compensation strategy to define how it views and manages employee pay and benefits. The strategy serves as a guide and should be outlined in a written document […]
Principles of Compensation Management
(i) There should be definite plan to ensure that differences in pay for jobs are based upon variations in job requirements, such as skill, effort, responsibility, working conditions, mental and […]
Compensation Management: Concept
Compensation management is the practice of the organization that involves giving monetary as well as non-monetary rewards to the employees, in order to compensate for the time they allocate to […]
Institution: Chambers of Commerce and Industry in India
Indian Chambers of Commerce The government of India has a Ministry of Commerce and Industry and a Ministry of Finance to look after the well-being of its trade sector. But […]
