Statutory

Bonus

Bonuses can be part of employee’s CTC but might not be paid out on a regular basis

Implementation
Updated 1 year ago by Implementation

Employee Provident Fund (EPF)

EPF is a retirement benefits scheme available to all employees. The main purpose of this scheme is to help employees save a fraction of their salaries every month (12% of Basic Pay + DA), so that they can use it when they retire or if they develop any disability.

Implementation
Updated 1 year ago by Implementation

Employee State Insurance (ESI)

What is Employee State Insurance (ESI) ? This is a self-financing social security and health insurance scheme applicable only to employees whose monthly salary is ₹21,000 or less. The employees’ cont…

Implementation
Updated 1 year ago by Implementation

Employee Welfare Fund

Employee Welfare Fund. Labor welfare fund is a statutory contribution managed by individual state authorities. Zenscale provides setting for state labor welfare board determines the amount of the con…

Implementation
Updated 10 months ago by Implementation

Exgratia

What is Exgratia ? Ex-gratia is given as a mark of compassion voluntarily. Usually, for the employees who are not covered under the Bonus Act, Ex-gratia is paid.Although for the employees who come un…

Implementation
Updated 1 year ago by Implementation

Gratuity

What is Gratuity ? Gratuity is a part of the salary that is received by an employee from the employer in gratitude for the services offered by the employee to the company. Overview :- An employee bec…

Implementation
Updated 1 year ago by Implementation

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