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    Revised Pay Package

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    Admin
    Admin

    Posts: 175

    Revised Pay Package

    Post by Admin on Wed Nov 25, 2009 10:16 am

    The FCI Board of Directors have now approved the Allowances to be payable to IDA executives under the pay revision.

    The revised structure would be as follows,

    1. Basic Pay - As per individual's fitment in the time scale
    2. IDA - As declared by the DPE (presently 25.3% of Basic)
    3. HRA- (if no lease accommodation or FCI accommodation availed) - As per applicable city - 30%/20%/10% of Basic (Lease, if availed would be in lieu of HRA)
    4. Special Allowances (subject to fulfilment of conditions) - like North East Allowance, Hardship area allowance, Non-practising allowance for Doctors etc.
    5. Other Allowances
    A. Fixed component : LTC and Medical - on actual availment basis, as per admissibility(valued at 7% of Basic)
    B. Selectable component - on cafeteria approach - upto a ceiling of 43% of Basic
    6. Employer's Contribution to CPF (including EPS) 12% of Basic plus IDA

    Note:
    1. PLI and other existing facilities like conveyance/transport subsidy, telephone, newspaper etc. would be merged within the limit of 43%
    2. Income Tax as Applicable


    Last edited by Admin on Mon Oct 04, 2010 10:56 pm; edited 1 time in total

    Jag Prasad

    Posts: 2

    Re: Revised Pay Package

    Post by Jag Prasad on Sun Dec 13, 2009 2:16 pm

    There is no feed back since long as to what happened about perquisites which has been approved by the BOD.

      Current date/time is Fri Apr 18, 2014 2:52 am