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2020-10-09
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2020-05-13
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What is consolidated salary?
Consolidated pay or salary a person is offered is the amount a person gets for the work done, on monthly/weekly/ basis. It consists of all the entitlements joined together, without specifically stating any breakups. It can be stated as consolidated gross and any statutory deductions will be on the consolidated amount.
What is meant by consolidated pay?
Consolidated pay or salary a person is offered is the amount a person gets for the work done, on monthly/weekly/ basis. Furthermore, it consists of all the entitlements joined together, without specifically stating any breakups. Furthermore, it can be stated as consolidated gross and any statutory deductions will be on the consolidated amount.
What is the difference between consolidated salary and basic salary?
Consolidated pay is the total amount one can get as pay or salary. Basic Pay is BASIC. That means some more additional allowances like DA, HRA can be added and the total amount will be called Gross pay. Most of the allowances and other deductions can also depend on the basic pay.
What do you mean by consolidate?
to bring together (separate parts) into a single or unified whole. Unite. Combine: They consolidated their three companies. To discard the unused or unwanted items of and organize the remaining: She consolidated her home library. To make solid or firm. Solidify. Strengthen: to consolidate gains.
What is meant by gross salary?
Gross salary is the term used to describe all the money you've made while working at your job, figured before any deductions are taken for state and federal taxes, Social Security and health insurance. If you work more than one job, you'll have a gross salary amount for each one.
What is the basic salary?
Basic salary is the amount paid to an employee before any extras are added or taken off, such as reductions because of salary sacrifice schemes or an increase due to overtime or a bonus. Allowances, such as internet for home-based workers or contributions to phone usage, would also be added to the basic salary.
What does consolidate job mean?
Definition. The Consolidated Employment Contract (CEC), created in 1992, is a part-time employment contract (generally for 30 hours a week) for a 12-month fixed term, renewable up to a maximum of five years. The employee's salary is partly covered by the State.
What do you mean by consolidated?
Definition for consolidated (2 of 2) to bring together (separate parts) into a single or unified whole. Unite. Combine: They consolidated their three companies. To discard the unused or unwanted items of and organize the remaining: She consolidated her home library.
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