๐๐๐ฐ ๐๐ ๐๐๐ฉ๐๐ซ๐ ๐๐จ๐ฅ๐ข๐๐ฒ: ๐๐ก๐๐ญ ๐ ๐% ๐๐๐ฅ๐๐ซ๐ฒ ๐๐๐๐ฎ๐๐ญ๐ข๐จ๐ง ๐๐๐๐ง๐ฌ ๐๐จ๐ซ ๐๐จ๐ซ๐ค๐๐ซ๐ฌ ๐ค๐ On 20th May 2024, President Jokowi stipulate Peraturan Pemerintah (PP) Nomor 21 Tahun 2024. The recent implementation of the BP Tapera program, which mandates a 3% salary deduction for employee housing funds, has stirred significant discussion. This deduction includes a 2.5% contribution from employees and a 0.5% contribution from employers. For self-employed or freelance participants, the deduction of 3% is paid entirely by themselves. While aimed at facilitating homeownership for workers, some argue it adds to the already numerous deductions from salaries, such as BPJS Kesehatan, Jaminan Hari Tua, and PPh 21. BP Taperaโs chairman has addressed these concerns, explaining that the program is designed to provide long-term housing benefits, making it easier for employees to own their first home. He emphasized that the fund will support housing loans, construction, and renovations, potentially easing the financial burden for many. Despite the debates, it's crucial for employees and employers to understand the implications and benefits of Tapera. What do you think about this new policy? ๐ญ #recruitment #tech #hiring #startups Source: https://lnkd.in/g2DuwxHM
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Attention business owners and companies in Nigeria!! ๐ซท๐ผ๐ซท๐ผ Boost work efficiency and streamline operations when you pay salaries with Vuvaa Lifestyle. Simplify your salary payments and empower your workforce with Vuvaa Lifestyle! ๐ผ Enhance your payroll process and keep your staff happy with just a few clicks! Make the smart move now! ๐ #salary #salaryweek #lifestyle #lifeissweetwithvuvaa #besttechcompanyinnigeria #finance #abujatech #techafrica
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Welcome Relief for Foreign Expats working in India - Recently the Karnataka HC held that Employee Provident Fund Scheme is not applicable on Foreign Expats working in India HC quashes EPF Act provisions which required Expats coming to India to contribute to Provident Fund. The HC held that the aims and objects of introducing para 83 of the EPF Scheme is defeated if International Worker earning several lakhs are required to contribute to EPF even if salary more than 15000 Rs. The cash flow impact of the judgment on Foreign Expats / Companies is very significant, as the EPF was earlier calculated and deposited on entire salary of foreign Expats which sums ran into lakhs.ย The refund of such amounts was another challenge which the Expats had to face on their return to home country. The Karnataka HC judgment upholds the principle of Equality as enshrined under Article 14 of the constitution, to the effect that Foreign Expats cannot be asked to pay EPF on their full salary when for Indian employees the limit is 15000 per month
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Likes will not pay your bills, Leads Will โข Book a Call Now! โข Building @ Revamp Tribeโข โข Corporate Trainer โข Public Speaker โข Personal Branding Strategist โข Social Media Marketing
I have worked for Rs 400 (dehadi). (basically, Rs 400 daily wage) Let's rewind a bit: I come from a middle-class family living in a tier-4 city.ย The city's name is Jamuria. Like every typical Marwari family, my father wanted me to become a CA. I tried but eventually realized that I was not meant for it. During my 3rd year, I told to my father. "Papa mereko apna passion follow karna hai." But my dad didn't say: "Ja Yogesh Ja, jeele apni zindagi. Karle Passion Follow" Rather, he was so disappointed & agitated that he stopped sending me money. His exact words were: "Ghar aa jao, dukaan mai baith jaana." "Mai aur paise nahi bhej raha tumko" Ab ego issues toh apne bhi the.ย ย So, I decided I wouldn't ask for money from him anymore. But at the same time, I also had: โ Pay for my PG Rent โ Pay for my Daily Food โ Pay for my College Fees So I started working on a "daily wage" basis.ย Mazak nahi kar raha, picture dekh lo niche. I used to wear the clothes (with the company's logo), give out pamphlets, and sell tickets. That got me, 400 rupees a day. The worst part: There were no consistent gigs. Means, mahine mai muskil se 6-7 milte the. Then, I started trading some goods. (Story for some other day). Then, I also blacked out IPL Tickets. (Story for some other day). Then, I also taught tuitions for English. (Story for some other day). This taught me, how hard it is to earn money. And why did my dad stop sending me that !! Believe me, at that time I couldn't even imagine that I would be hiring my own employees and paying them salaries. Honestly, 7 years ago I would have laughed if someone had said this to me.ย There were days when I thought: "Kaash mai kisi ameer aadmi ke ghar paida hua hota". Then the same me also realized: "Tab zindagi jeene mai koi real kick hi nahi milti yaar." Believe me when I say: "I am still figuring out" But I am in love with the process. Always remember: Success comes from experience and experience comes from bad experiences. So, don't judge people by the success they show on social media.ย ย Instead, see their past struggles.ย Because behind every success story, there is a story of struggle as well.ย What is your struggle story behind your success? Let me know in the comments. (Would love to read). P.S. Repost, if this story connected with you. #india #earlycareer #lifelessons
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Approachable accountant & business mentor who helps and guides business owners make more profits with less stress
Labour market turning in favour of businesses The countryโs labour force underutilisation rate remained at 10.1% at the end of October 2023, the same as the previous month, according to the Australian Bureau of Statistics. Underutilisation is the sum of the number of people unemployed and underemployed. It includes those who are not employed but able to work and are actively looking for work as well as people employed part time who would like more work. But while the underutilisation rate was unchanged month-on-month, it was up from 9.3% in October 2022, which means the labour market has been loosening. For businesses, that should mean it's becoming easier to keep your existing staff and attract new staff, putting downward pressure on wages growth. If the underutilisation rate keeps increasing, the labour market will continue turning in employers' favour. #accountant #bookkeeping #business
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Pakistanโs & Bangladeshโs Unsung Heroes - Part 3/4: Dream of an Overseas Worker There is an underlying driver behind the over 1 million Overseas Workers who migrate from Bangladesh and Pakistan every year: the promise of a better-paid job abroad that will help them truly transform the lives of their families back home. Our conversations with Overseas Workers allowed us to hear a few inspiring success stories. More specifically, visiting the communities gave us visual examples of modern-built family houses (shown in the picture at the bottom) that stood out from the other houses in the village erected with corrugated sheets and wood. A look at the unit economics behind these stories helps to understand under what conditions they occur. Most successful Workers were hired for skilled jobs such as electricians, steel welders, or carpenters because they have been able to certify their job experience at a local skill-testing facility. The monthly salary for skilled roles can be significantly higher at the equivalent of $400-500 compared to $300-400 for unskilled roles. Deducting living costs of around $150-200 (the employer often provides housing and transportation) allows a Worker to remit home up to $350 monthly. The other critical determinant of the unit economics is the upfront cost the Overseas Worker has to pay for the job, visa, and other related fees. Many success stories had in common that the hiring process skipped at least a few layers of recruitment agents or subcontractors or was directly with the employer. Reducing the upfront costs brings forward the โbreakeven pointโ (i.e., from where savings can go directly to the family instead of repaying the upfront cost). However, turning to the data explains why these success stories have been rather the exception than the rule. According to the International Labour Organisation, more than half of the Overseas Workers leaving Pakistan every year are categorised as unskilled, with the majority working as labourers in the construction sector. Skilled jobs such as mason (3%), electrician (2%), or carpenter (2%) remain a small percentage. Our insights shed light on the opportunity to improve the current migration process for Overseas Workers by: 1.) Ensuring their skills are adequately certified. 2.) Bypassing intermediaries such as recruitment agents or subcontractors. 3.) Reducing the upfront costs. Eventually, these steps could help increase the likelihood of success for Overseas Workers. Link to Part 1/4 & 2/4 in the comment section. Picture: Houses of the families of successful Overseas Workers in Chandpur (Bangladesh).
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Founder & CEO @NovaVente | Great.Place.To.Workยฎ Certifiedโข | Global Sales Enablement | 2X Founder | PowerLifting 2023 & '22 National Gold Medallist๐ ๐ฎ๐ณ| Sales Advisor & Mentor | Hiring - Operations/BD/Accounting
Do you know - SALARY IS NOT AN EMPLOYEE'S RIGHT ๐ฎ ๐ฎ Well as the saying goes "one learns new things everyday", and this is my learning coming straight from the Founder and Managing Director of one of India's oldest, test-prep coaching centre #FIITJEE - Mr. Dinesh Kumar Goel. Drum rolls ๐ฅ ๐ฅ ๐ฅ please!!!! According to him - #Salary is not a matter of right, but that, it needs to be earned by doing what is expected of you to do,โ Mr. Goel, told employees in a recent e-mail, reported Moneycontrol. And if one wishes he/she can withhold salaries deliberately, for what he perceives as non-conformance, to his or her viewpoint of an ideal employee. #MatrixVenturePartners backed company hasn't "deliberately" paid salaries to its employees for the second month in a row, all because Mr. Goel thinks that most managing partners and employees of the company are not acting as #entrepreneurs and "the basic entrepreneurial spirit is missing from most of the staff members." Just wow. This for me is #Immoral #Unethical & #Inhumane at the very least and I could add some more choice words, as employees, their families, their extended support system, all get affected. Let alone the mental trauma everyone, affected has to go through each day. Now lets look at the legal aspect in #India:- In India, it is generally #illegal for an #employer to withhold an employeeโs salary. According to theย Payment of Wagesย Act, 1936, employers are required to pay their employees their wages. This applies to all types of employment, whether it is contractual, temporary or permanent. The Act also states that wages cannot be withheld for any reason, unless authorized by law, or tax deductions or court order. In cases where an employee has been absent from work without prior permission or criminal issues or purposeful negligence etc, the employer may hold or deduct wages for the days the employee was absent or for whole period. And in cases, if an employer withholds an employeeโs salary without a valid reason, the employee can file a complaint with the labor authorities. And I am sure - "Not being entrepreneurial enough" - is definitely not a VALID REASON in any court or any country or company - under the blazing sun. Rather unfortunate to see a #CEO act as such, but this reeks of high handedness and utter disregard to #employer best practices and I for one completely oppose such behaviour. #indianlaborlaws #salaryexpectations #mentalhealth #india #fiitjee
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If you run a business in the food delivery sector, logistics services, e-goods/services, B2B or B2C industries in the state of Karnataka, then this post might be helpful for you from an employment law perspective. On June 29, 2024, the Labour Department under the Government of Karnataka has published the draft of the Karnataka Platform based Gig Workers (Social Security and Welfare) Bill, 2024. The Government of Karnataka has invited comments and suggestions with respect to the said draft bill, to be submitted by July 09, 2024. A copy of this draft bill is attached below. It is pertinent to take note of this draft bill considering the recent discussion going around in the Ministry of Labour with respect to enforcement of the labour codes, particularly the Code of Social Security Bill, 2020. Some key highlights of the draft bill are listed below. ยทย ย ย ย ย ย Wide definition of the term โaggregatorโ. The draft bill defines โaggregatorโ as any digital intermediary for a buyer of goods or user of services with the seller or service provider and includes any entity that coordinates with one or more aggregators for providing services. Please note that the Code of Social Security Bill, 2020 has also defined the term โaggregatorโ. ยทย ย ย ย ย ย Obligation on the aggregators to enter into โfair contractsโ with the gig workers. ยทย ย ย ย ย ย Registration of the gig workers engaged by the aggregators with the state government, issuance of unique identification number to the gig workers, thus increased regulatory oversight. ยทย ย ย ย ย ย Obligation to constitute a โdispute resolution committeeโ of an aggregator engaging 50 or more gig workers. It would be important to view this bill in light of the Code of Social Security Bill, 2020 in order for us to predict the upcoming regulatory requirements with respect to this. Please note that the draft bill also mentions about some other key aspects. I will post my critique/comments in relation to the same in the course of the next few days. #karnataka #labourlaw #employmentlaw #corporatecompliance #B2B #B2C #fooddeliveryapp #HR #start-up
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Series 1, Part A Letโs understand the terms used in the salary structure and their calculations! Gross Salary - Let's break down Priya's gross salary and its components based on the example provided: Priya's monthly gross salary is โน30,000. This is the total amount she receives before any deductions or taxes are applied. It's often referred to as the "gross" salary because it's the starting point for calculating her total earnings. Now, let's look at how this gross salary is divided into various components: Basic Salary: โน15,000 (50% of the gross salary) The basic salary is a fixed portion of the salary and forms the foundation for other benefits and calculations. In this example, it's set at 50% of the gross salary. House Rent Allowance (HRA): โน6,000 (20% of the gross salary) HRA is provided to employees to help cover their rental expenses. The amount can vary based on the company's policies, but in this case, it's 20% of the gross salary. Special Allowances: โน4,000 Special allowances are flexible components that can vary and are typically paid to cover other expenses or as part of the salary structure. Other Allowances: โน5,000 Miscellaneous allowances, like meal allowances, phone allowances, or any other specific allowances, make up โน5,000 in this example. Now, let's verify the division: Basic Salary (50% of Gross Salary): โน15,000 House Rent Allowance (HRA - 20% of Gross Salary): โน6,000 Special Allowances: โน4,000 Other Allowances: โน5,000 When you add up all these components, you'll get Priya's total gross salary: โน15,000 (Basic Salary) โน6,000 (HRA) โน4,000 (Special Allowances) โน5,000 (Other Allowances) = โน30,000 So, Priya's gross salary of โน30,000 is divided into various components, with the basic salary, HRA, special allowances, and other allowances making up the total. This division helps determine how much she receives for different purposes and is a common structure in many salary packages. #ctc #HRA #basicsalary #allowances FarziEngineer Brimo Software Solutions #humanresources #HR
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Did you know the minimum wage in India is โน176 a day? And, it's not even a legal requirement in many states, allowing people to pay less than the minimum wage! Clearly, India needs to make minimum wage enforceable across the country. But that alone will not solve the problem. As you can see, the amount paid as minimum wage is also ridiculously low! So, is there a way to fix this? There might be. And it is called Living Wage! What is it and how does it work? Get the full scoop in today's newsletter- https://bit.ly/3TAUyEN Also, Ditto Insurance is hiring for Insurance Advisors! You would get to work with one of LinkedIn's Best Startups and can also choose to work remotely! The best thing is, you don't even have to know a lot about insurance, we'll teach you everything from scratch! Apply here- https://bit.ly/43wL8OU
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