REASONABLE SALARY
ITC staff earning over a crore increases to 350 in FY24
The number of ITC employees earning over Rs 1 crore increased by 24.11 per cent in FY24 compared to the previous year, reaching a total of 350. Net remuneration of top executives, including Chairman Sanjiv Puri, saw significant jumps. The company's annual report also highlighted its increased expenditure on employee benefits, expansion into various sectors, and establishment of new factories and hotels in recent years.
EPFO discontinues GIS deductions, to refund past deductions: These government employees to get higher salary
EPFO: Specified employees stand to gain due to EPFO's decision of discontinuing GIS deductions and refunding all deductions made thus far. According to Akhil Chandna, Partner, Grant Thornton Bharat, "The discontinuation of deductions under GIS will indeed increase the take-home salaries. Previously, the deductions were made from employees' monthly salaries as per their pay-scales to fund the GIS."
Paid to Stay Home: French woman sues telecom giant for 20 years of pay without work
Laurence Van Wassenhove, a disabled French woman, is suing telecom giant Orange for paying her full salary for 20 years without assigning any work. Van Wassenhove claims this led to isolation and moral harassment, while Orange denies any wrongdoing, stating efforts were made to accommodate her condition.
How to save Rs 1 crore with a monthly salary of Rs 50,000
Accumulating a Rs 1 crore corpus might seem like a distant dream for someone earning Rs 50,000 a month. However, with discipline and a strategic approach, it is achievable. Experts recommend systematic investment plans (SIPs) in equity mutual funds for wealth creation over the long term. Starting investments early and gradually increasing SIP contributions can significantly accelerate your progress towards becoming a crorepati. ET Wealth Online explains how you can save Rs 1 crore with Rs 50,000 salary.
Beyond the paycheck: What employees look for and how employers can fix hiring gaps
The changing work culture is causing a gap between employer and employee expectations in hiring and retention. Companies struggle with mismatched salary expectations, required skills, and cultural fit issues. Nonprofits and FMCG companies face the most challenges. Many employees in India and Asia Pacific prioritize flexibility and career progression. Ageism is evident, especially in sectors like Insurance.
Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
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Salaried individual filing ITR? Advisable to wait till June 15
ITR filing for salaried individuals: The last date to file income tax returns for salaried and other taxpayers (whose accounts are not required to be audited) is July 31 every year. However, it is advisable for salaried individuals to start the process of filing their tax returns after June 15 due to following reasons.
MNCs now offer best salary package to seasoned professionals to scale up their GCCs in India
Industry leaders report that multinational corporations are offering substantial compensation packages to recruit experienced professionals for their global capability centers (GCCs) in India. Over the past two years, there has been a noticeable increase in GCCs offering annual salaries ranging from Rs 3-6 crore to specialized leadership talent.
Central govt employees, private employees can't claim LTA if they don't follow these rules; LTA eligibility, other latest updates
LTA for central govt employees: Employers offer Leave Travel Allowance (LTA) to offset travel expenses during leave. It covers airfare, train tickets, or public transport, but reimbursement is capped by employer or tax limits. Confusions arise, especially with air travel. Here's a breakdown: Can you claim LTA with a confirmed flight ticket? Does the booking platform matter? Is family included? What documents are required for flight-based LTA claims?
After cancellation of 80 flights, Air India Express sacks nearly 30 crew members for mass sick leave
Air India Express Layoffs: Following the cancellation of approximately 80 flights, Air India Express, under Tata ownership, has terminated the employment of 25 cabin crew members for their failure to report to work. The salaries of crew members have been reduced by nearly 20% due to the merger of Air India Express with AirAsia India.
Mass sick leave by Air India Express crew grounds over 80 flights
CEO Aloke Singh said in a message to employees that he is open to discussion with the cabin crew and that the airline will curtail flights for the next few days to mitigate the disruption. The airline operates around 360 flights per day.
Air India Express cancels over 80 flights as cabin crew reports sick
Air India Express faced cancellations due to crew shortage and protests against HR practices. Government intervention sought to resolve issues. Post-merger challenges include salary cuts, allowance removal, and management complaints affecting passengers and crew.
Low charges, high returns, income tax benefits — 5 reasons to choose NPS for retirement planning
The NPS for the general public completes 15 years this week. Over the years, the NPS has undergone many changes and become more investor friendly. The Pension Fund Regulatory and Development Authority (PFRDA) has made the scheme more flexible and introduced new features. It has also made it easier to open an NPS account. Here are five reasons why you should invest in it.
Myth Debunking 101: Salary negotiation is not meant for freshers
Many freshers often hesitate to negotiate their first salary, but it's crucial for setting a positive tone in their careers. Mental barriers like unfamiliarity with negotiation skills and pressure to start quickly hinder negotiations. Lack of market salary information and fear of rejection also contribute to hesitation.
Headcount down, It's not final countdown
Infosys and TCS reported headcount declines in 2023-24 due to automation. Indian IT workers face challenges negotiating salaries with generative AI. Global tech job markets are impacted by AI, leading to a shift in causality for Indian companies.
Aviation Ministry seeks report from Vistara over flight cancellations, says airlines have to comply with DGCA norms
Vistara on Monday announced reducing the flight operations temporarily due to non-availability of pilots. It said that many first officers have been reporting sick to protest against pay revision, a development that forced the full-service carrier to cancel over 100 flights.
HDFC Bank asks customers to avoid this money transfer facility on April 1, 2024: Delay in salary and other payments
In an email to customers, HDFC Bank has said that this mode of money transfer may not be available on Monday, April 1, 2024. The bank has suggested HDFC customers to use other options to transfer money on Monday. Your salary may also get delayed due if it is done through NEFT due to financial year-ending on April 1, 2024. All HDFC customers must know
LTA exemption: Submit tax-saving proofs to employer by March 31 deadline as claiming LTA in ITR is a hassle
LTA, usually a component of your salary, covers the expenses of your travel during vacation. The cost incurred for family members who travel with an employees is also allowed as exemption. To claim LTA, the employee typically needs to submit documentary evidence of the incurred travel expenditure to the employers within specific deadlines.
8 reasons why old tax regime is still attractive for many taxpayers in this income tax bracket
Though under the new tax regime you may end up paying no tax on income up to Rs 7.5 lakh and and pay tax at a lower rate when your income goes higher, but old tax regime offers higher tax saving opportunities with various deductions and exemptions. However, these deduction can not be claimed by all taxpayers and apply on only select individuals. Hence, it makes sense for you to check which tax regime will help you save higher tax.
Pool of ‘unemployed CXOs’ grows as old firms refuse to match startup salaries
Several CXOs laid off by startups are struggling to find new roles as traditional companies are unwilling to hire them at the inflated salary levels and fancy designations that attracted them to startups in the first place. This situation has led to a growing pool of 'unemployed CXOs' in the job market. Many of these executives are finding it challenging to secure new positions due to their above-market compensation packages and lofty titles. The influx of resumes from these individuals, who are seeking roles in large companies but are deemed overpriced, reflects this trend.
How to decline a promotion without burning bridges
Declining a promotion can be a strategic decision based on personal commitments, lack of preparedness, or a preference for hands-on roles. Professionals risk missed opportunities and strained relationships but can respectfully decline by expressing gratitude, providing transparent reasons, and remaining dedicated to their current role. Communication is key to preserving positive rapport and future opportunities.
Does more work and bigger responsibilities lead to better compensation and promotions?
Research from Deloitte India and Randstad India indicates that employees taking on additional roles are receiving better increments, double promotions, and career advancement opportunities. This strategy benefits companies by retaining talent, cultivating skilled workers internally, and saving on external hiring costs. Such initiatives have reduced attrition and boosted employee engagement.
In the era of gender disparity, women still find it a challenge to ask for a pay raise
The gender gap in pay raises persists due to women's hesitation influenced by confidence disparities and unconscious gender stereotypes. Organizational culture, compensation philosophy, and market benchmarks play a crucial role. Women should keep records, conduct research, negotiate, and consider non-monetary incentives.
IPL Salaries vs BCCI Contracts: A look at how much Indian cricketers' earn
The Board of Control for Cricket in India (BCCI) recently announced its central contracts for the 2023–24 season, which excluded players like Ishan Kishan and Shreyas Iyer. This article compares the earnings of Indian cricketers from their BCCI contracts to their IPL salaries, revealing interesting insights into the financial aspects of Indian cricket.
Want a better salary but not sure how to negotiate with a prospective employer? 6 fail-proof tips from a Harvard Business School professor
Career expert Matt Gavin, who is associated with Harvard Business School, shared some tips to put your best foot forward when negotiating your compensation package during an interview.
What's stopping rivals from lining up to pick up Paytm's talent pool
Competitors and other startups are eyeing talent within Paytm amid its current challenges. However, the company's reputation for offering salaries well above industry norms means that many potential candidates are being priced out of the talent market. Industry insiders and executives from recruitment services and search firms have noted that Paytm's generous compensation packages are difficult for other companies to match.
Signing bonus: The pros and cons, and how you can negotiate
Companies use signing bonuses as a powerful tool to attract top talent by swiftly onboarding them without compromising on internal compensation. Bonuses are offered for specialised or high-demand roles, providing an immediate financial incentive to join. Pros include immediate financial boost, competitive edge, and retention tool, while cons include tax implications and potential misalignment.
Wife wants divorce after husband takes her to Ayodhya. Here is why
A woman from Madhya Pradesh is seeking a divorce from her husband for taking her to Ayodhya instead of honeymoon in Goa. She approached the Bhopal Family Court on January 19, claiming that her husband is currently working in the IT sector and receives a good salary. The trouble started when the husband booked flights to Ayodhya and Varanasi without informing his wife. The wife alleged that her husband took more care of his family members than her. The couple is currently receiving counseling at the Bhopal Family Court.
What was the salary of ex-RBI Governor Raghuram Rajan? The answer may leave you in shock!
Raghuram Rajan, the former RBI Governor, candidly shared details about his tenure and revealed his annual salary during that time.
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