Claeys & Engels’ Post

Your salary increment may not be a reward, but rather the bare minimum for your hard work. It's essential to recognize the value you bring to the table and ensure that you are compensated fairly. Your employer should acknowledge your efforts beyond just keeping you in your current position. #Salary #Compensation #WorkValue

Six out of 10 employees (62%) who plan to get an electric vehicle as their next car say a key incentive is the benefits available through a salary sacrifice scheme, according to new research. Salary sacrifice schemes can be a very effective way to attract and retain employees. Find out more about the salary sacrifice schemes you could include in your benefits packages - call Corinthian for a no-obligation discussion. #Benefits #WorkplaceWellbeing https://lnkd.in/eS9q96V9

It's officially on it's way! 📊 New Chapter's FMCG Salary Survey 2024, complete with salary guide, benefits insight, market resarch and more. You're input is invaluable in shaping our report. Please take a moment to share your suggestions below, from pension information to holiday allowance let us know what information is useful to you. In the meantime, check our previous Drinks Salary Survey and FMCG Salary Survey 2023. 👇 https://lnkd.in/eSQFp39Z #fmcgsalarysurvey #recruitment #2024 #industryinsights #salaryguide

“How to Reward an Employee?” www.iris-consulting.biz Companies, in the private sector, may reward employees through the following forms: 1.     Bonus (reward for work performance), 2.     13th salary, 3.     Bonus upon company’s business success (share in the company's profit), 4.     Bonus for overtime work, 5.     New Year's compensation, 6.     Compensation for annual leave (minimum legal amount mandatory to be paid to all employees, but it may be paid in a higher amount), 7.     Gift for special occasions in goods/services, 8.     Jubilee award (for 10 or more years of work with the same employer). Read more in the article at the link. 👇 #askirisconsulting #irisconsultingbiz #businesscoach #businessgrowth #businesstips #trending

Yesterday I put up a post that included a business and opportunity I am working with to try and utilise my apparently extensive contact base. My first impression when I saw it was that it was ‘too good to be true’ but it actually is a very interesting concept and for that reason I have had plenty of people message me already asking for further information. In layman’s terms the salient points are : 🟢 It’s all about employee benefits and on average an employee would be able to save £1200 p.a ✅ ⚫️ With retailer discounts it enables employees to save money at no extra cost to the employer ✅ 🟢 This is the really interesting part 😮 There is no monthly fee AND the employer actually GETS PAID 1% of its monthly GROSS wage bill ! ✅ ⚫️ So for a monthly gross wage bill of £1m as a hypothetical example the employer would receive £10k a month ✅ 🟢 No tie-ins, simply a rolling 30 day agreement ✅ ⚫️ Benefits for staff are obtained from their discount purchases from already taxed income so no issue to benefit in kind ✅ Too good to be true 🤷♂️ What’s not to like 🤷♂️ Why wouldn’t you look into it 🤷♂️ Nothing ventured nothing gained - send me a message - I would never recommend anything I didn’t think was a good thing ❌ #backyourself #benice #bekind #behumble 💙🤍

GRATUITY 1️⃣.Gratuity is a financial component offered by an employer to an employee in recognition of his or her service rendered to an organization. 2️⃣.But the gratuity is paid only to employees who have completed five or more years with the company. 3️⃣.The Government of India passed the Gratuity Act on August 21st1972, and it came into effect on September 16th, 1972. 4️⃣.It is an act that ensures gratuity—the employers mandatorily pay a lump sum amount as gratitude for services to employees engaged in factories, mines, oilfields, plantations, ports, railway companies, shops, or other establishments, and for matters connected therewith or incidental thereto. 5️⃣.The calculation of gratuity is covered under this act. As we know, companies with 10 employees on a day in the foregoing 12 months are covered under this act. 6️⃣.Gratuity = (15× last salary drawn × number of service years completed)/26 No other part of the last drawn salary will be included; it consists only of the basic salary and the dearness allowance (DA). 7️⃣.The old rule of the Gratuity Act provides for payment of gratuity at the rate of 15 days of wages for each completed year of service, subject to a maximum of Rs. ten lakhs. 8️⃣.In the case of a seasonal establishment, gratuity is payable at the rate of seven days of wages for each season. 9️⃣.The Act does not affect the right of an employee to receive better terms of gratuity under any award, agreement, or contract with the employer. 🔟.According to the new gratuity rules, employers must make sure that base pay makes up 50% of an employee’s CTC (cost to the company) and that the remaining 50% is made up of overtime, housing costs, and employee allowances. And if the company pays any additional allowances or exemptions that exceed 50% of the CTC, it will be regarded as remuneration.

100 Trusted Brands Buying Guide - All You Need To Know About Salary Sacrifice Salary Sacrifice is best used as an employee benefit for non-car-eligible employees, and those employees in receipt of a cash allowance in lieu of a company car. It also provides an option to support a business’s commitment to achieving net-zero carbon emissions. In this way, the carbon footprint of these employees’ commute to work can be factored into your company’s wider carbon footprint calculations. Read more in the latest 100 Trusted Brands in Fleet report with key insights from Jon Burdekin 🚘 Fleet Consulting - as well as a most-trusted shortlist of 22 suppliers! https://lnkd.in/eWiiDBcY

Discover the difference between wage vs salary, their definitions, benefits, and which suits your needs better. Make informed financial decisions today! Read More: https://lnkd.in/dXT5U4p6 #wages #wagesvssalary #Salary #salaryincrease #salaryguide #understanding #key #keydifferences #differences

Salary sacrifice for your business 👇🏼 As businesses look for ways to attract and retain top talent, salary sacrifice car schemes are gaining traction as a valuable employee benefit. But, is it the right move for your business? What is Salary Sacrifice⁉️ In a salary sacrifice arrangement, employees agree to give up a portion of their salary in exchange for a company car. This can offer significant benefits, both for the employee and the business. Why Consider Salary Sacrifice⁉️ Offering employees a car through salary sacrifice can make your company stand out in a competitive job market. It can also help increase employee satisfaction and loyalty. For employees, a salary sacrifice car scheme can reduce their taxable income, leading to potential savings on income tax and National Insurance. For businesses, this can also result in NIC savings. A salary sacrifice car scheme allows businesses to streamline vehicle management, often including maintenance, insurance, and tax in the package. This can reduce the administrative burden on your team. While employees can save on taxes, their take home pay will be lower due to the salary sacrifice. This can however lead to the employee being better off, over paying for a car with their net salary. If your business is focused on sustainability, offering electric vehicles through salary sacrifice can reinforce your corporate responsibility goals and contribute to your environmental commitments. Salary sacrifice cars can be an attractive offering for both employers and employees, but like any benefit, it requires careful planning. Before introducing such a scheme, it’s crucial to assess the needs of your workforce and ensure that it aligns with your overall business objectives. When you’re ready, reach out and we can discuss in more detail. #electriccar #electricvehicle #netzero #sustainability #salarysacrifice #salsac #ev

With the increase in Employer NI contributions on employee salaries announced on Wednesday, it has reinforced the viability of Employee Car Salary Sacrifice schemes for low and zero emission vehicles. One of our Salsac clients with 21 vehicles on the scheme (mostly EV with a few plug-in hybrid) is currently saving £29,000 per annum in NI contributions on this fleet, based on the current employer NI rate of 13.8% in this financial year. From next April, when it goes up to 15%, this figure increases will increase to £30,100 per annum. (this is even after the Class 1A NI payments on the 'company cars' and the annual increase in BIK on them.) If an Employer wants to mitigate some of the hike in NI contributions next year, then offering Salary Sacrifice options (not just car schemes) is one way of doing it. However because Cars are expensive in comparison with other Salary 'Sacrificeable' (is that a word?) items, the savings are greater. If you are an Employer debating whether to offer a Car Scheme benefit, now would be a really good time to do it. Get in touch to discuss these savings - just message/email/call us. www.tchsalsa.co.uk salarysacrifice@tchleasing.co.uk 0114 257 4200 #tchsalsa #salarysacrifice #electricvehicles