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What is consolidated pay in the salary? Consolidated means a person gets the amount joined together without specifying any breakup. It usually refers to an employee's total earnings, which includes all salary and allowances. The term often appears on payroll checks or in financial statements when referring to employer-paid benefits like health insurance coverage. The word "consolidated" can also mean something that has been unified or combined into one entity; this meaning is not related to salaries but it will be good for you if you know about it because there are chances of getting confused between them both. ##It's Human Resource Most Loved Pay Check Some companies are now paying their employees in one lump sum, instead of breaking it up into individual payments. The advantage to this is that you don't have any surprises when your salary arrives each month because there won’t be anything deducted for things like medical insurance or other benefits- just a total amount due at the end of every week/fortnight/etc. This type has become known as "consolidated pay" which means consolidating all these different allowances together under one heading rather than spreading them out across multiple titles on our pay schedule HR managers love Consolidate payday value. Example of Consolidated Salary If Shyam is working in a organization and HR asked him a question as final statement as: Are you looking for 40,000 per month as overall or in hand salary? Than if Shyam committed and aggreged about in hand salary required as total 40,000 rest calculation is based on your math. That condition, Human Resource manager will pay the money to Shyam as full but at the same time - all the basic deduction will be in place. Like: HRA, Medical, PF etc. What is the main difference between Consolidated salary vs Gross Salary? What is the main difference between Consolidated salary vs Gross Salary? There are two types of salary: consolidated and gross. Consolidated is when you get all the money together without saying how it was made. Gross is when you say how it was made. For example, if you have two accounts and combine them into one account, then they are consolidated. Consolidated salaryGross SalaryCommitted Salary: 35,000/monthCommitted Salary: 35,000/monthNo Breakup requiredBasic - 20,000H.R.A. - 10,000C.C.A. - 1500E.P.F. - 2500Transport Allowance - 1500NET PAYABLE Rs. - 34,550 (After PF, TDS & tax deductions) NET PAYABLE Rs. - 34,550 These are one of the Consolidated salary certificate format in Word if you want to download then ask to your companies' HR for that. One More Example Of Consolidated Salary To More Detailed Clarification Ramesh is working in a company and his compensation is as below: Basic pay scale - 10,000One Time Joining Value: 2,000Company Stock Share Value: 1,000In addition: Free MealInsurance Protection By CompanyDoor To Door Transportation In this condition, what will be the overall salary. Here is the answer: The consolidated payment of salary is 10,000+ 2,000+1,000+ cost of food for one employee per year+ cost of insurance for the employee+ transportation cost per year 30,000 However, currently, Odisha govt rules on appointment of retired persons with consolidated salary contractually. So, that's why, payment of retired teachers or employees doesn't effect breakdown of their values. It's a kind of benefits of the employee by government. Is a person appointed on consolidated pay not for specific period, a regular employer? Many person is asking for a specific time period employee is regular or not. Then answer is already in the question that No, he or she is appointed on consolidate salary for a certain time value that's why they are not a confirmed or regular employee of the company. It's a kind of adhoc vacancy fulfillment. FAQs about Consolidated Pay

क्रिप्टोकरेंसी में निवेश करते समय क्रिप्टो कंपनी के किन किन बातों का अध्ययन करना चाहिए ?

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भारतीय रेलवे की ओर से एक श्रद्धांजलि I रवीन्द्रनाथ ठाकुर की 150वीं जयंती पर

What is Consolidated Pay in the Salary: All Pay and Allowances Together

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क्रिप्टोकरेंसी में निवेश करते समय क्रिप्टो कंपनी के किन किन बातों का अध्ययन करना चाहिए ?

भारत में क्रिप्टोकरंसी पर किसी तरह का प्रतिबंध नहीं – भारत सरकार

ऐसी योजना, जिसमें आपकी बेटी को मिलेंगे ₹6500000, जाने क्या करना होगा?

भारतीय रेलवे की ओर से एक श्रद्धांजलि I रवीन्द्रनाथ ठाकुर की 150वीं जयंती पर

What is Consolidated Pay in the Salary: All Pay and Allowances Together