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A provision shall be recognized if the following criteria are fulfilled: an entity has a present obligation as a result of a past event; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; a reliable estimate can be made of the amount of the obligation. [3]
Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. [1] A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed.
Alternatively, all or a part may be paid in various other ways, such as payment in kind in the form of goods or services provided to the employee, [1] such as food and board. For tax purposes, wages and salaries normally do not include other non-cash benefits received by an employee, such as flights, payment of school fees etc.
Tally Solutions was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka [2] after the family's cotton business was destroyed by fire. [3] [4] It began as Peutronics Financial Accountant, an accounting software application. [5] [3] The company was incorporated in 1991 and was renamed Tally Solutions in 1999. [6] [7] [8]
A traditional form of a defined benefit plan is the final salary plan, under which the pension paid is equal to the number of years worked, multiplied by the member's salary at retirement, multiplied by a factor known as the accrual rate. [9] The final accrued amount is available as a monthly pension or a lump sum.
They include wages and salaries, remuneration for time not worked, bonuses and gratuities paid by the employer to the employee. Wages cover the total economy and are expressed per full-time equivalent employee. [3] * Indicates "Economy of [country or territory]" links.
Net Salary per month (including other emoluments and allowances) All emoluments and allowances References 1 President ₹ 500,000 (US$5,800) + Other allowances fixed to the President. [1] [2] [3] 2 Vice President ₹ 400,000 (US$4,600) + Other allowances fixed to the Vice President. [4] [5] [3] 3 Prime Minister ₹ 280,000 (US$3,200)
None; US$2.65 per hour for employment with the national government; all states have a minimum hourly wage for government workers: US$2.00 in Pohnpei, US$1.25 in Chuuk, US$1.42 in Kosrae, and US$1.60 in Yap; US$1.75 for private sector workers in Pohnpei.