Page 3 - Salary

Air India announces salary hike, annual performance bonus for pilots

The new compensation structure, effective April 1, will see first officers and captains receive a monthly salary hike of Rs 5,000, while commanders' pay will be raised by Rs 11,000

Air India Express struggles with roster software, over 50 flights affected

The Tata-owned airline has been compelled to manually assign duties and organise schedules for its staff, affecting around 50 out of the 300 daily flights operated by the airline

Reduced flights impacting cabin crew salary: Air India Express union

The Air India Express Employees Union has claimed that more than 100 employees have not been able to work due to the unavailability of airport entry passes

Cash-strapped Byju's pays April salaries to all employees except sales ones

Last month, Byju Raveendran, the founder and chief executive officer of Byju's, secured a private debt of about Rs 30 crore to pay the March salaries of employees

Cash-strapped Byju's may pay salary to employees for April this week

Last month, Byju Raveendran, the founder and chief executive of Byju's, secured a private debt of about Rs 30 crore to pay the March salaries of employees

Byju's introduces revenue-linked salary policy for sales staff: Report

Base salaries of sales staff will be suspended while this policy is in place between April 24 and May 21

Here's how much Wipro CEO Srinivas Pallia is set to earn in the first year

Wipro's new chief executive officer (CEO), Srinivas Pallia, is set to receive up to $6 million in annual compensation during his initial year

Koo halts salary payments amid financial woes, seeks strategic partners

Indian platform that was once seen as a potential rival to Twitter says that it is in discussions with potential strategic partners

Five-day week not there yet, but bank wage settlement has a lot for bankers

While the wait for a five-day week gets longer, the most interesting developments that make the agreement progressive and humane relate to leave

'Pleased to inform': Byju's begins salary payout after delay of 2 months

Byju's said that despite its efforts, the company is yet to secure approval to access the funds from the rights issue

How to restructure your CTC under old and new tax regime for maximum benefit

For those paying rent, optimizing HRA can significantly reduce taxable income.

Why IPL player pay has not grown in sync with BCCI and franchise revenue?

While the value of IPL has increased by 433%, the salary cap of the franchise has only increased from Rs 20 crore in 2008 to Rs 100 crore in 2024

Pak Prez Zardari decides to forgo salary, cites nation's economic hardship

Pakistan's newly-elected President Asif Ali Zardari on Tuesday announced that he would not draw any salary during his tenure as part of his bid to help the cash-strapped country face the challenging economic hardship. Zardari, 68, who took oath as Pakistan's 14th President on Sunday, decided to encourage prudent financial management and not burden the national exchequer, his Pakistan Peoples Party (PPP) said in a statement on X. The President considered it essential not to burden the national exchequer and preferred to forgo his salary, President Secretariat Press Wing said in a press release on Tuesday. Former president Arif Alvi was drawing Rs 8,46,550 per month, which was fixed by Parliament in 2018. Zardari is one of the richest politicians in Pakistan. Zardari, co-chairman of the PPP, took oath as President of Pakistan for a second term at a ceremony at Aiwan-i-Sadr in Islamabad on Sunday. Separately, Interior Minister Mohsin Naqvi, following the steps of Zardari, also decide

Centre hikes dearness allowance to 50% of basic pay for its employees

The Centre on Thursday hiked Dearness Allowance (DA) to 50 per cent of basic pay from the existing rate of 46 per cent effective from January 1 this year, benefitting over 1 crore employees and pensioners ahead of general elections. The Union Cabinet has approved to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners from January 1, 2024, representing an increase of 4 percentage points over the existing rate of 46 per cent of the basic pay/pension, to compensate against price rise, Union Minister Piyush Goyal said after the Cabinet meeting. The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs 12,869 crore per annum. The impact would be Rs 15,014 crore during the year 2024-25 (January 2024 to February 2025). With the increase in DA, transport allowance, canteen allowance, and deputation allowance among others have been increased by 25 per cent. House Re

Byju's unable to pay salaries as funds locked amid rift with investors

Byju's founder Byju Raveendran on Saturday said the edtech company will not be able to pay salaries to employees as the recent funds raised through a rights issue are inaccessible due to a legal dispute with certain investors. In a letter to staff, Raveendran said the rights issue, launched a month ago, has been successfully closed. "This was supposed to be a happy correspondence. After all, we now have funds to meet our short-term needs and clear our liabilities. However, I regret to inform you that we will still be unable to process your salaries," he said. In the letter - seen by PTI - Raveendran said the company is still striving to ensure that salaries are paid by March 10. "We shall make these payments the moment we are permitted to do so as per law," he added. Further, Raveendran said that last month, the company faced challenges due to a lack of capital, and "now we are experiencing a delay despite having funds". "Unfortunately, a select few (4 out of our 150 plus investo

Companies expected to dole out 10% average salary hike this year: Survey

Companies in India are expected to dole out an average of 10 per cent salary increase this year, with automobile, manufacturing and engineering sectors anticipated to witness the highest hikes, says a survey. In 2023, the average salary hike was 9.5 per cent, according to consultancy firm Mercer's Total Remuneration Survey (TRS) released on Tuesday. "This trend showcases India's strong economic performance and its growing appeal as a hub for innovation and talent. Employees in the automobile, manufacturing & engineering and life sciences in India are projected to see the highest salary increment increases, highlighting the competitive nature of these sectors," it said. The survey, conducted between May and August 2023, gathered data from 1,474 companies, covering more than 6,000 job roles and representing more than 21 lakh employees. It focused on salary trends across various industries, with individual performance, organisation performance and position in salary range being the ..

Manufacturing firms likely to lead pay hikes in 2024: AON India survey

According to the projections by AON, the manufacturing sector could lead the hike with 10.1 per cent, followed by life sciences, and financial institutions with a 9.9 per cent hike each

Salaries in India expected to increase by 9.5% in 2024: Aon survey

Salaries in India are expected to increase by 9.5 per cent in 2024, slightly lower than the actual increase of 9.7 per cent in 2023, largely in response to market dynamics, according to global professional services firm Aon plc. According to the firm's annual salary increase and turnover survey 2023-24 India, that analysed data across 1,414 companies from almost 45 industries, salary increase in India seems to have stabilised at high single digits, after the post-pandemic high increments in 2022. "The projected increase in salaries in the Indian formal sector indicates a strategic adjustment in response to the evolving economic landscape. "Despite a conservative global sentiment, industries such as infrastructure and manufacturing continue to project robust growth, indicating the need for targeted investments in certain sectors," said Roopank Chaudhary, partner and chief commercial officer for Talent Solutions at Aon in India. India continues to roll out the highest salary increase

GST on expat salary: CBIC asks officers not to apply SC order mechanically

Investigation in each case requires a careful consideration of facts, including the terms of contract: CBIC

Byju's founder Raveendran pledges homes to raise funds for staff salaries

Two homes owned by Raveendran's family in Bengaluru, in southern India, and his under-construction villa in Epsilon, a plush gated community in the city, were offered as collateral to borrow $12 mn