2006-06-20 06:40:00 · 3 answers · asked by maceoruez 1 in Business & Finance ➔ Careers & Employment
yeah if you do a search for "salary abuse" you get too many good hits. am i the only one who has a problem with salary being used by employers as free work?
2006-06-20 06:46:53 · update #1
how do you edit yourself on this thing???? i meant to say "bad hits"
2006-06-20 06:49:08 · update #2
You have not mentioned the country you live, and also for which purpose you need the definition of salary. So, it is presumed that you may be desiring the same for the purpose of Income Tax. For that purpose definition of salary may differ some what from country to country. Yet more or less, in almost every country, the SALARY includes:
The Salary Income, whether received or not, may or may not any element or part thereof be exempt from the Income Tax, but becoming due from the employer, as per the relevant Sections of the Income Tax Act, consists of:
· - Salary (Pay and Allowances);
· - Wages;
· - Perquisites/ Fees/ Commissions/ Profits in lieu of or in addition to Salary;
· - Advance of Salary;
· - Arrears of Salary;
· - Annuity or Pension and related benefits;
· - Arrears of Pension;
· - Retirement/Death/Service Gratuity;
· - Leave Encashment;
· - Payments under Voluntary Retirement Schemes (VRS);
· - To the extent chargeable to Income Tax, any annual accretion to the balance in a recognized Provident Fund, etc..
Mostly retirement benefits and provident fund related income, although form part of the salary, but are exempt from Income Tax.
2006-06-20 07:17:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
same as it was in 2005?
2006-06-20 06:43:49 · answer #2 · answered by sam21462 5 · 0⤊ 0⤋
Just enough to keep you coming back. Not enough to let you eat.
2006-06-20 06:44:34 · answer #3 · answered by AlphaFemale 5 · 0⤊ 0⤋