Difine the meaning of a gross salary and differentiate between piecemeal and time related salary determination method
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Gross salary is the term used to describe all the money an employee has made working for the company in a year. It is the salary which is without any deductions like income tax, PF, medical insurance etc. Gross salary is however, inclusive of bonuses, overtime pay, holiday pay, and other differentials. Some of the components of gross salary include basic salary, house rent allowance, special allowance and conveyance allowance, among others.
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Gross salary is the term used to describe all the money an employee has made working for the company in a year. It is the salary which is without any deductions like income tax, PF, medical insurance etc. Gross salary is however, inclusive of bonuses, overtime pay, holiday pay, and other differentials. Some of the components of gross salary include basic salary, house rent allowance, special allowance and conveyance allowance, among others.
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