Kutubul Alam’s Post

Can an Employer deduct monies from an Employee’s salary for loss or damage? YES. A deduction from the employee’s remuneration may be made to reimburse the employer for loss or damage of the employer’s property if: (a) the loss or damage occurred in the course of employment and was due to the fault of the employee, and (b) the employer has followed a fair procedure and has given the employee a reasonable opportunity to show why the deductions should not be made, and (c) the total amount of the debt does not exceed the actual amount of the loss or damage; and (d) the total deductions for loss or damage do not exceed 25% of the employee’s remuneration in money. #LabourLaw

Service: What the company charges clients 💰 vs.  what they pay you as salary. Product: What the company earns in revenue vs.  what they give you to feel like you're getting rich 🤑 Ultimately, It's up to you to manage your money wisely 🧐.

🔔 S Corp Owners – You could be making one of these 3 costly mistakes without even realizing it: 1. Skipping salary documentation 2. Mismanaging salary vs. distributions 3. Getting deductions wrong Sound familiar? These mistakes could put your business at risk. But don’t worry, there’s an easy fix! 🙌 Join my Savvy S Corp Owner Masterclass: Getting Your Salary Right and learn how to avoid these pitfalls and protect your business: https://lnkd.in/eJiFhj2c

A big mistake S-Corp owners often make is only taking distributions from the business and not paying themselves a salary. On top of this, if they do pay themselves a salary, it is not reasonable. S-corps are beneficial as they allow you to have a salary but also take tax-free withdrawals from the basis in the business. Just make sure you run an analysis each year to determine a reasonable salary.

Ensure you confirm the proof of earnings and that you state the nature of business when submitting your RoE. Assessment by Tariff: Section 83 of the Act indicates that the FEM shall assess an employer according to a tariff based on a percentage of annual earnings. This assessment determines the employer’s contribution to FEM In line with section 82(1)(a) of COIDA, FEM is required to obtain formal confirmation of the earnings submitted on the RoE, subject to the relevant maximum wage. When submitting your RoE, you must attach a letter from your accountant stipulating the amounts, or a summarised payroll print out. It is also compulsory to confirm the nature of your business. For any further information or assistance with your submission, please email hounderwriting@fema.co.za   #workmenscompensation #returnofearnings

You will lose lakhs of rupees if you don't have these 3 accounts! So according to a survey, 81% of people spend all their salary before month end. 1. To avoid this, first open a salary account. Salary accounts are usually opened by companies to deposit salaries, incentives and bonuses. 2. Open a high interest savings account where you get 6-7 percent interest through the bank's auto-sweep facility. These are some bank lists where you get high interest in savings accounts. 3. And lastly, use a separate account for spending. In this you can put the amount which you will spend. Like credit card bill, shopping, rent, UPI payment and debit card will also be used from this account. If you do these 3 steps, your savings will also increase and all your spending will also be tracked from the same place. Share this video with your friends and colleagues who make excuses like - Mere to paise hi nahi bachte.

🎥 See the Potential Savings with Salary Exchange With rising National Insurance (NI) costs, businesses are looking for ways to manage their budgets effectively. Salary Exchange is one option that could help. In this short video, we highlight examples of the potential savings businesses can achieve by implementing this approach. 📊 What’s covered: ✔️ Practical examples of NI cost savings ✔️ Insights into how Salary Exchange can help manage rising costs Take a moment to explore how Salary Exchange could support your business in navigating these challenges.

💼 CTC vs. Take-Home Pay: The Real Story Ever wondered why your salary package looks impressive on paper but not in your bank account? My latest video breaks down the hidden details behind CTC (Cost to Company) and actual pay. Understand the key deductions, inflated benefits, and smart negotiation tips to get what you deserve. 🔗 Watch Now #Salary #CTC #Paycheck #CareerTips #EmployeeBenefits

Do you understand your Payslip? Payslips are sometimes difficult to understand, however it is important to know how your pay is being calculated. For a helpful guide to understand your payslips, click the link below👇

Maintenance allowance of the minors---Financial status of the father--- Proof---Notwithstanding the fact that the respondent (plaintiff/mother) was unable to procure and bring on record salary slip of the petitioner, he himself was obliged to bring on record reliable and trustworthy record/documents disclosing his monthly salary---Petitioner though had produced (got exhibited) in evidence his alleged salary slip, but said salary slip by no means qualified standards to attain trustworthy status for reliance on certain counts; one that it did not conform with minimum standards of wages, and second that it was a document handed out and produced by the petitioner himself, which from the face of it appeared to be a computer generated copy lacking any sort of verification on behalf of the petitioner's employer---To prove said document (salary slip), the petitioner could have easily adduced his bank statement of the salary account, transpiring exact deposits from his company on account of his salary; he could have also produced his employer or any other authorized official of the company in support of sanctity, truthfulness and genuine status of said document (salary slip)-Petitioner's employer or his authorized official, whilst appearing in witness box, could have brought on record bank and tax record to head of his salary---However, the petitioner did not do the same and only produced said two documents (salary slip and salary account opening form) for proving his salary, which attempt fells short on account of no evidentiary value attached to both said documents... Though the provisions of Qanun-e-Shahadat, 1984 are not stricto sensu applicable to family matters, but exhibited salary slip was bereft of any strength and evidentiary value---If salary slip had been an official/attested/verified document, then situation would have been different, but genuine origination and sanctity of exhibited salary slip was not of required standards for being relied upon---In the circumstances, the Courts below had no option but to believe the evidence produced by the respondent (plaintiff / mother) regarding immediate necessities of claimants of maintenance allowance and fixing up same keeping in light the petitioner's obligations as well---No ground whatsoever was available to substitute the concurrent findings of courts below. 2024 CLC 1580