While calculating EOS, companies should include all the benefits as
mentioned in the UAE Labor law and Employment agreement between the company and the employee
Human resource development is the integrated use of training, organization, and career development efforts to improve individual, group, and organizational effectiveness. HRD develops the key competencies that enable individuals in organizations to perform current and future jobs through planned learning activities.
Compensation And Benefits In Hrm PowerPoint Presentation SlidesSlideTeam
Presenting this set of slides with name - Compensation And Benefits In Hrm Powerpoint Presentation Slides. This complete deck is oriented to make sure you do not lag in your presentations. Our creatively crafted slides come with apt research and planning. This exclusive deck with thirty five slides is here to help you to strategize, plan, analyse, or segment the topic with clear understanding and apprehension. Utilize ready to use presentation slides on Compensation And Benefits In Hrm Powerpoint Presentation Slide with all sorts of editable templates, charts and graphs, overviews, analysis templates. It is usable for marking important decisions and covering critical issues. Display and present all possible kinds of underlying nuances, progress factors for an all inclusive presentation for the teams. This presentation deck can be used by all professionals, managers, individuals, internal external teams involved in any company organization.
The probation and confirmation policy provides information about the terms and conditions that a new employee should follow during probation period. The policy conveys that probation period is an opportunity to both new employee and their manager to do get adjusted and to improve the performance.
For more information visit https://www.hrhelpboard.com/hr-policies/probation-and-confirmation-policy.htm
Human resource development is the integrated use of training, organization, and career development efforts to improve individual, group, and organizational effectiveness. HRD develops the key competencies that enable individuals in organizations to perform current and future jobs through planned learning activities.
Compensation And Benefits In Hrm PowerPoint Presentation SlidesSlideTeam
Presenting this set of slides with name - Compensation And Benefits In Hrm Powerpoint Presentation Slides. This complete deck is oriented to make sure you do not lag in your presentations. Our creatively crafted slides come with apt research and planning. This exclusive deck with thirty five slides is here to help you to strategize, plan, analyse, or segment the topic with clear understanding and apprehension. Utilize ready to use presentation slides on Compensation And Benefits In Hrm Powerpoint Presentation Slide with all sorts of editable templates, charts and graphs, overviews, analysis templates. It is usable for marking important decisions and covering critical issues. Display and present all possible kinds of underlying nuances, progress factors for an all inclusive presentation for the teams. This presentation deck can be used by all professionals, managers, individuals, internal external teams involved in any company organization.
The probation and confirmation policy provides information about the terms and conditions that a new employee should follow during probation period. The policy conveys that probation period is an opportunity to both new employee and their manager to do get adjusted and to improve the performance.
For more information visit https://www.hrhelpboard.com/hr-policies/probation-and-confirmation-policy.htm
Dear Seniors & Friends,
Sharing the PPT on "Labour Laws in India" with Various Act under the Labour Law. Kindly have a look on the Same & Share your valuable feedback & suggestion. If you found any mistake kindly update me for the modification the same.
Thanks & Regards,
Anshu Shekhar Singh
M- 9999 844 355
It is a presentation on The HR Practices of Best places to work. It is presented by Sravani Lakshmi, Shanky Jaiswal, Karan Khanna, Kuldeep Indeevar, Manish Kumar Verma and Madhusudan Partani of FMG 18A, FORE School of Management
How you can get a higher pension from EPFO beyond ceiling limit?Amitava Nag
It appears that, on the basis of Delhi High Court (22.05.2019) and Kerala High Court (12.10.2018) verdicts, employee and employer have the opportunity to submit ‘Joint Request’ for higher contribution on EPS which is mere an adjustment of accounts as money will go from EPF to EPS and employer does not have any extra burden on such higher contribution. Monthly pension will be as given below:
Monthly pension after 58 yr age = {Average of Basic pay + Grade pay + D.A. of last 12 months} x {(Month and Year of retirement) – (November 1995) + 2) / 70
N.B. (a) 6 months and more=1 year, (b) 2 years added as per clause 10(2) for retirement at the age of 58 and period of contribution in EPS from Nov’95 is equal to 20 years or more. (c) Amount of pension shall be increased @ 4% for every completed year if the age of drawing pension is deferred upto 60 years.
All about End of services Gratuity in Kuwait.pdfFiyona Nourin
our payroll experts in Kuwait take you through a set of questions and answers that will help in clearing all your doubts related to end of service gratuity in Kuwait.
Dear Seniors & Friends,
Sharing the PPT on "Labour Laws in India" with Various Act under the Labour Law. Kindly have a look on the Same & Share your valuable feedback & suggestion. If you found any mistake kindly update me for the modification the same.
Thanks & Regards,
Anshu Shekhar Singh
M- 9999 844 355
It is a presentation on The HR Practices of Best places to work. It is presented by Sravani Lakshmi, Shanky Jaiswal, Karan Khanna, Kuldeep Indeevar, Manish Kumar Verma and Madhusudan Partani of FMG 18A, FORE School of Management
How you can get a higher pension from EPFO beyond ceiling limit?Amitava Nag
It appears that, on the basis of Delhi High Court (22.05.2019) and Kerala High Court (12.10.2018) verdicts, employee and employer have the opportunity to submit ‘Joint Request’ for higher contribution on EPS which is mere an adjustment of accounts as money will go from EPF to EPS and employer does not have any extra burden on such higher contribution. Monthly pension will be as given below:
Monthly pension after 58 yr age = {Average of Basic pay + Grade pay + D.A. of last 12 months} x {(Month and Year of retirement) – (November 1995) + 2) / 70
N.B. (a) 6 months and more=1 year, (b) 2 years added as per clause 10(2) for retirement at the age of 58 and period of contribution in EPS from Nov’95 is equal to 20 years or more. (c) Amount of pension shall be increased @ 4% for every completed year if the age of drawing pension is deferred upto 60 years.
All about End of services Gratuity in Kuwait.pdfFiyona Nourin
our payroll experts in Kuwait take you through a set of questions and answers that will help in clearing all your doubts related to end of service gratuity in Kuwait.
A Guide on Statutory leaves in Qatar.pdfFiyona Nourin
It is obvious for employees to have doubts regarding the policies and their right to paid leaves. Here we have covered in detail about the leave policy in Qatar.
This information sheet provides general information for employees of companies in receivership. Employees should also read ASIC’s information sheet INFO 54 Receivership: a guide for creditors. For more info, visit: http://www.svpartners.com.au
Virtual companies can conduct selected professional activities that include services related to printing and advertising; computer programming, consultancy and related activities; and design activitie
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In UAE, tobacco and tobacco products, Energy Drinks and Carbonated drinks are subject to Excise tax and the nation has now decided to levy excise tax on all e-cigarettes, e-liquids and sweetened drinks with effect from December 1, 2019
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The CbC report must be submitted within 12 months of the end of the reporting period. Accordingly, for the financial years commencing on 1 January 2019, the CbC report must be submitted by 31 December 2020
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The law will lead to greater transparency, in terms of civil debt repayment transactions, and will reinforce the position of the country as an ideal destination for investment, where equal rights are given to all the parties. It helps in creating an atmosphere that encourages entrepreneurship and creates favorable conditions for doing business.
Protection against the dangers of cyberspace, support for innovation in cyberspace and the growth of the emirate and its economic prosperity, are the motives of Dubai cyber security strategy.
There has been widespread scepticism and fears that the integration of emerging new technologies like AI into an industry such as HR would inevitably lead to multiple job losses
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A Future Economy Research Centre that will provide a platform for scientific research will be the eighth initiative and the ninth initiative is a programme that intends to consolidate the culture of entrepreneurship and inspire students to start economy companies.
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When a person fails to charge and account for the correct amount of output VAT or does not recover the correct amount of input tax, it is considered as an error.
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The technologies are never a replacement for auditors; what they do is empower and enable audit professionals to deliver high-quality audits, without any errors
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RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
1. Final Settlement Calculations in UAE
Employees are an organization’s lifeline. Expatriates from a multitude of
locations live in the UAE, contributing to the Emirate’s economic growth and
prosperity. It is the employer’s responsibility to look after and settle an
employee’s end-of-service benefits, and this should be done in an accurately
and timely manner.
While calculating EOS, companies should include all the benefits as
mentioned in the UAE Labor law and Employment agreement between the
company and the employee.
Below are the components included in the Final Settlement Calculation.
1. Unprocessed Salary, if any: –
An employee is entitled to receive salary until the last working day.
If an employee resigns or gets terminated and the last working day is
10th Aug 2021 and the employee had received July 2021 salary, then the
employee should be paid for 10 days additional salary as part of the
final settlement calculation. If an employee resigns or gets terminated
and the last working day was 25th July 2021 and the employee had
received July 2021 salary, then 6 days of salary should be recovered
from the employee and be included in the final settlement calculation.
2. Unused Annual Leave or excess leave used: –
If the employee has worked for more than six (6) months, then the
employee will be paid for unused annual leaves which are accrued
till the last working day of the employee. If the employee has
used excess leave from the accrued leave till the last working day,
then the excess used day amount will be recovered while
2. calculating the final settlement.For more details about the leave policy in
the UAE, please follow the link UAE Leave
3. Repatriation ticket to home country: –
The employer should pay the employee for a one-way repatriation ticket
to the employee’s country of origin. This is applicable only if the
employee is travelling back to the country of origin. If a visa change is
happening within the UAE by changing visa status, the employee is not
eligible to get a repatriation ticket.
4. End of Service Gratuity: –
Gratuity is a monetary payment eligible to an expat employee as a lump
sum at the end of his tenure, provided that the period of service
exceeds one year. The basis amount used to calculate is the
employee’s last drawn basic salary. The amount of gratuity payout is
calculated based on the type of contract, i.e., limited or unlimited
contracts, and the type of separation, i.e., resignation or termination.
3. Please see the below table to get a fair idea of how to calculate gratuity
under different scenarios.
For more information about UAE Gratuity calculation click here
5. Notice Period Pay: –
The employer or employee can terminate an unlimited employment
contract with a minimum of 30 days notice period. The employee will
have to perform his duties during such a period as instructed by the
employer. If either the employer or the employee fails to serve notice or
shortens the notice period, the party obligated to serve the notice shall
pay the other party a compensation as Notice period pay. If the
employer has terminated an employment contract for a limited period,
he becomes liable for the payment of compensation, provided that the
sum of compensation, in all events, may not exceed the total pay due to
him for a period of three months or for the remaining period of the
contract whichever is shorter, unless the terms of the contract provide
4. otherwise. If the contract has been terminated by the employee, for
reasons other than those mentioned under Article (121), the employee
becomes liable for compensating the employer against losses incurred
by him as a consequence of contract termination, provided that the
amount of compensation, may not exceed half a month’s pay for a
period of three months or for the remaining period of the contract,
whichever is shorter, unless the terms of the contract provide otherwise.
6. Any Outstanding loan, advances, or deductions: –
If there is any unrecovered portion of the outstanding loan,
advance or deduction, it can be recovered through final settlement.
For example:- An employee has taken a loan of AED – 60,000.00 and
the repayment is in 12 Equal installments. The employee has paid AED-
50000.00 (10 installments), and the remaining two installments (AED
10,000.00) are to be recovered from the employee when the final
settlement is calculated.
7. Other payments or recovery: –
If there is any other payment or recovery due to the employee, it also
can be settled in the final settlement calculation.I.e., any overtime
payment, bonus, commission, incentives, etc. that is pending to be paid
with his final settlement calculation. If any amount is to be recovered
(fines, telephone deductions, etc.), from an employee, it should be
considered in the final settlement calculation.
8. Any other benefits or compensation mentioned
in Employment Contract: –
As part of the separation, an employee is entitled to any other benefits
or compensation mentioned in the employment contract.
5. Here, we are trying to answer some of the commonly asked questions related
final settlement.
1. Can a company in UAE terminate an employee without any End of
service Gratuity or Notice period pay?
Any employee whose employment is terminated by the employer under
Article 120 is not eligible for any end-of-service gratuity or notice period
pay. Article 120 of UAE Labor law includes the below conditions.
If the employee adopts a false identity or nationality or if he submits
forged documents or certificates.
If the employee is appointed under a probationary period and
dismissal occurs during or at the end of said period.
If he commits an error causing substantial material loss to the
employer, provided that the latter advises the labor department of
the incident within 48 hours from having knowledge of the same.
If an employee violates instructions regarding the safety of the place
of business provided that such instructions are displayed in writing at
conspicuous places and in the case of an illiterate employee, the
latter must be informed verbally of the same.
If he fails to perform his basic duties under the employment contract
and continue to violate them despite a formal investigation and a
warning that he will be fired if the same thing happens again.
If he divulges any secrets about the establishment where he is
employed.
If he is awarded final judgment by the competent court in respect of
an offence prejudicing honour, honesty or public morals.
If during working hours, he is found drunk or under the influence
of a drug.
If in the course of his work, he commits an assault on the employer,
the manager or any of his colleagues.
If he is absent without lawful excuse for more than twenty
intermittent days or for more than seven successive days during one
year.
2. Do employees have the option to leave the company without serving
notice period in UAE?
6. As per Article 121 of UAE labor law, the employee may leave the
service in a Company in UAE without notice period in the following
cases:
If the employer does not fulfill his obligations towards the employee
as provided for in the contract or in this law.
If the employer or his legal representative has committed an act
of assault against the employee.
3. Is there is any deadline in labor law for processing EOS?
There is no such deadline in the law for final settlement before
cancelling Visa, as employees are asked to sign paperwork declaring
that they have received all that is due to them ahead of visa
cancellation.
4. Who bears visa cost? Can a company deduct visa cost from
employee if he/she resigned from the job?
As per UAE Labour law, employer has to bear all the visa expenses for
an employee and cannot deduct this from employee.
5. How long can an employee stay in the UAE once their visa is
cancelled by the company?
Employee can stay a maximum 28 days in UAE after cancelling the
visa.
6. Is WPS Payment processing mandatory for EOS?
WPS is not mandatory for EOS, it is recommended. Company can issue
cheque also.
7. Should a company intimate employee bank before processing final
settlement to the employee?
7. If company provided any letter to the bank saying that company will
inform bank while processing final settlement, it is obligatory to inform
bank. If there is no such letter issued by the company, it is not
mandatory to inform bank that payment is final settlement.
Payroll Service in UAE
The process of payroll is a little complicated and time-consuming; hence it is
always recommended to outsource your company’s payroll function.
Outsourcing payroll will ensure the assistance of a team of trained payroll
professionals and it frees up the time of the organization, helping them focus
on other projects that add value to their business. One should be extra vigilant
while selecting their payroll provider, as payroll data is highly sensitive, and
one should opt for a provider that can ensure high levels of data security.
As a leading payroll outsourcing company, HLB HAMT can help solve your
payroll complexities through customized strategies. We take care of our
clients’ entire payroll cycle that includes preparation of payroll reports,
processing salary payment with WPS compliance, accrual management
including Gratuity, pension funds, an online portal for accessing payslips, and
many more. Our leadership team spends the necessary hours in every
project, ensuring our clients get refined consulting services to take your
business forward.
To know more about our payroll process, click here
Disclaimer
Whilst every effort has been made to ensure the accuracy of this information,
HLB HAMT will not accept any liability arising out of errors or omissions.
Please note that this blog is not all-inclusive. Our guidance is designed only to
give general information on the issues/topics covered. It is subject to change
8. and is not intended to be a comprehensive summary of all laws which may be
applicable to your situation, treat exhaustively the subjects covered, provide
legal advice, or render a legal opinion.
Final Settlement Calculations in UAE
Level 18, City Tower-2,
Sheikh Zayed Road
PO Box 32665
Dubai – United Arab Emirates. Tel: +971 4 327 7775
E-mail: dubai@hlbhamt.com
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