What is On-Payroll and Off-Payroll? Meaning & Definition
Companies in today’s dynamic and evolving workforce are adapting to new employment models to maximize operations, increase...
What is Salary Certificate? Meaning & Format in Word & Pdf
A salary certificate is a formal document that confirms an individual’s employment and income. Usually, one doesn’t require this, but...
What is Cost to Company (CTC)? Meaning, Calculation, Examples
Cost to Company, or CTC, can be defined as the annual expenditure incurred by a company to pay an employee. This amount combines the salary...
Salary Slip – Format in Excel, Word, & Pdf (Free Download)
The salary slip, also known as a payslip, serves as an official document outlining an employee’s earnings and deductions. Each month,...
What is a Severance Pay? Meaning, Purpose and Benefits
The term “severance pay” carries significant weight. But what exactly does it entail? Whether you’re an employee facing...
Variable Pay – Meaning, Types, Advantages and Disadvantages
Employers may offer variable pay to incentivise and recognise their employee’s job performance. It’s an extra payment that may be given...
What is Payroll Management? – Meaning, Process, Calculation
Payroll management is one of the most crucial business operations. Managing payroll is essential for any business, regardless of size or...
What is Dearness Allowance? – Meaning, Types, and Calculation
Dearness Allowance (DA) serves as a crucial cost-of-living adjustment provided by the government to public sector employees and pensioners....
What is Loss of Pay (LOP) in Salary? LOP Full Form
LOP, alternatively known as Leave Without Pay (LWP), arises when an employee opts for an approved leave of absence from their work duties...
Gratuity – Calculation, Eligibility and Taxation Rules
In employment, compensation extends far beyond just monthly salaries or hourly wages. Among the multiple components of an employee’s...
