Salary slip is going to change, know what will be connected and what will be less!

Most people are now doing work from home because of the coronavirus. In such a situation, now companies are thinking of bringing a new kind of salary slip that may change. Know what will change

After the arrival of Coronavirus, there have been many changes in society. One of them is Work from Home. Due to this work from home, there can be a change in salary slip that may change. Changes can be seen in the policy of sexual harassment, holidays, convention allowance, according to the work of the office, because now people are working from home.

What will be missing from the salary slip?

News is coming that sectors like the IT sector, banking, FMCG, consultancy, automobile, manufacturing can bring new salary slips. Anshul Prakash, a partner at Khaitan & Co, a specialist in Employment and Labor Law, said companies have plans to formulate a new policy on behalf of HR. He also informed that now components like travel and convenience allowance, oil and driver's allowance, vehicle maintenance charge can be removed from the salary slip. This can happen because people are not traveling and working from home.

Why are companies doing this?

A top law firm has stated that the companies' focus is on saving money and optimizing operational costs. Richa Mohanty Rao, a partner at Cyril Amarchand Mangaldas, says that many companies are considering ending old and traditional allowance such as convenience allowance and are looking to offer new types of allowance in work from home.

Will there be a new salary slip?

The new salary slip can include an allowance for high-speed internet. It may also include home office furniture, laptops, printers, mental and physical health apps, etc. If the crutch is off, then the salary slip may also include expenses for domestic help.

Will CTC change?

Suresh Tripathi, vice president, HR, Tata Steel, says that we are not changing CTC, just thinking of restructuring salary slip. Supratik Bhattacharya, chief balance officer of RPG Group, says that in the new salary slip, we will take full care that there is no tax on employees.